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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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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And that's rent. Look at the purchase price of the 2 bedroom and it is really eye-watering. You've seen the famous inflation graph that breaks down different product types right?
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