The Reality of Inflation

Inflation has been dramatically consistent, like inflation's good during rate and in bad during Carter. When we say 1971, up until 1971, if you had dollars in your bank account, they gained a little bit of pennies every year. And then after 71, they subtract pennies each year. That's how much inflation there's been in the last 40 years. We do have a reality that at some point you hit a kind of a terminal point. And I don't know exactly when it is, but it is coming.

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