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The History of Bonds
In 1981, you wrote a report called the Buy of a Generation, talking about bonds. Last yearYou wrote aReport called The Sell of a Generation,. What made you change your view? Well, in the late 70s and early 80s, Paul Walker was called into the Fed to break inflation. And he did that by tightening the supply of money to the economic system. It worked. He put the U.S. economy into a recession twice within two years. But what you have now is just about the reverse.