Raoul Pal the Journey Man - A New Paradigm
Real Vision: Finance & Investing
00:00
The Post-Wwii Period Was the Worst Example of This
The 1970s is the wrong example of this. And actually the post war period was the most because I think a lot of a lot of people don't really understand this period. The thing that worry central banks about the 1970s is that when you had the same kind of cost shock, you ended up with this decade long inflation problem. Now that spiraling is very specific to the 1970s. It didn't happen in the 40s. It hasn't happened in any other period in history. We've had plenty of big oil price shocks over the past 30 years. None of those have caused this spiraling of wages and prices.
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