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Inflation: Is It Important?
In the 70s, a lot of that was a population boom. And you're not going to have those trends going forward because we just don't have the population growth that we did back then. So yeah, it's worrisome. But when you combine that with things like technology growth and the coming fiscal retrenchment... It's hard for me to imagine that some of those big secular headwinds won't be things that are kind of anchoring inflation to some degree.
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