Why not stagflation? The 1960s were a sign of endless trust in Keynesian expansion to the extent that Milton Friedman could say of Richard Nixon "everyone is a Keynesian now". The 2010s are a sign of endless monetary expansion until everyone trusted the Greenspan put. 1/2
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I'm not a big fan of the way the feds count inflation. It seems like whenever any one part of the CPI basket gets too expensive, they underweight it in favor of something else which has gotten cheaper
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Super anecdotal but watching 90s sitcoms helps with understanding this intuitively. A dinner date in NYC costs $100 30 years ago? I guess there really was no inflation. Wait you paid $800 for a 2 bedroom in Manhattan? Give me a fucking break.
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