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We really need to talk about "inflation", as Alan Greenspan was trying to way back in '96.

Eurodollar University

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The Table Maker Is Going to Be Out of Business

John Maynard Keynes said in 1923 that rising prices and falling prices each have their characteristic disadvantage. The inflation which causes the former rising prices means injustice to individuals and to classes, particularly to rent years. It is therefore unfavorable to saving. That does not describe the great moderation of the 1990s and middle 2000s. In fact, it's just the opposite. They're using the wrong types of policies," he says.

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