Is There a Definition of Inflation?

The decision makers want deflation now, but they want to do it by creating fear for consumers so that they don't spend as much. The mainen people who believe this are a kind of pointing to the 19 seventies and saying, look, we had similar type of environment. But i think there are some key differences. You don't have more people entering the work force, eh, right now. In fact, you have people coming out of the work force. It's not in the mainstre narrative of sort of ina spiral inflation ause people. So if we get into staclation, then this is actually going to be even more serious than expected.