Are We Going to Get Much Like the 19 Seventies?

The balance of risks is very much skewed to the downside with respect to growth. The federal reserve won't have any data for a really long period of time. Some people are saying, no, we're not going to get nearly as much as the 19 seventies. It's only going to be ten or 12 %. Other people are saying were gin to get a huge inflation of three or four%. So it really depends on your perspective.