The Inflation Risk Is Obvious

I think the inflation risk is obvious. If larry somers, who spent the last six years warrening about secular stagnation, thinks that they are overheating the economy, they're probably overheating the economy. So stand back and wait for the fed to blink. If they don't, you're going to rerun the sixties, when inflation went in two big jumps, from below 2 %, 3% to above 6%. And a people forget the great inflation of the 19 seventies startedand in the later 19 sixties,. Every time they say we, weare going to be as radical a government as the lindon johnson government, i think to myself,