people have been gesturing at it for a while now but i think it's impossible to ignore at this point: the US is sliding into stagflation expect inflation to keep going up, rates to keep increasing, while the economy deteriorates it will be "solved" through deregulation and austerity
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This is a great theory until you compare it to every other inflationary episode in history. Why would the public suddenly develop a precise decade-long memory of what prices “should” be
