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Is There a Secular or a Cyclical Slowdown in Inflation?
People are somehow assuming that a potential regime change in the trend level of inflation over the next five to 10 to 20 years is for some reason, totally immune from a cyclical slowdown. I mean, you can have inflation settling at 3 or 5% whatever your theory is for the long run. But that doesn't mean that inflation can be can print zero in 2024. Whatever the new trend level is, you can still get a lot of downside in the very short term. The economy cycles unless we move into a full command and control economy even more greater than China,. "Free markets will always have an inherent cyclicality to them"