Absolute worst 70s recession can get?

The 1973-75 recession differed from other recessions in that both inflation and unemployment rose, known as stagflation. Among the causes included the '73 Oil Crisis and the fall of the Bretton Woods system, and the effects of the recession could be felt from Nixon to Reagan.

Now, I'm wondering, how much worse could this period of stagflation have been? How would this have affected general living and the economy? Could it possibly reach Great Depression levels?