If stagflation is back, we can expect to see crackpot economics to go with it:
Price increases will be attributed to greed. (I didn't know businessmen were so generous in the 1980s and 1990s.)
Price increases in exported goods will be blamed on perfidious foreigners buying them up.
Price increases in goods in the domestic economy will be blamed on immigrants.
Price increases in imported goods will be attributed to either evil foreigners we must declare war on or oppressed peoples we must be especially nice to so they will give us discounts. (Both sides in this controversy will claim anybody who disagrees with them is in cahoots with the other bunch of crackpots.)
The Malthusians will claim high commodities prices prove they were right after all. They will also claim unemployment is due to population growth outrunning job growth. (Isn't it amazing how they only seem to be right immediately after lots of funny money has been printed?)
Some conservatives will blame unemployment on people not wanting to work.
Space advocates will claim space materials will relieve commodity shortages and thus stagflation in general.