Ah yes, the sweet nostalgia of 11% annual inflation, wage/price freezes, 20% interest rates, stagflation, and bouts of negative GDP. The 1970s nearly broke my parents. What a terrible decade of financial policy.
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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"If inflation comes back, inequality will shrink." What the hell? Wages are sticky, they're hard to lower later so they're slow to raise, but stock prices can run wild. This is literally textbook stuff.
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Inequality declined over that period, sure. Infrastructure spending and (obviously) welfare reduce inequality - and so do stock-crashing meltdowns. But inflation isn't the cause, or 2008 bailouts would have done it. The covid bailout won't do it either.
End of conversation
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