Stagflation's Ghostly Echoes on Roosevelt Island The Roosevelt Island Tram is more than just a convenient link between Manhattan and the island in the East River.
It also serves as a poignant reminder of the 1970s stagflation crisis that left cities like New York struggling to keep up with their basic needs. The parallels between then and now are striking.
In the 1970s, the US faced stagnant growth, high inflation, and a crippling national debt. Today's economic landscape bears an unsettling resemblance.