Quote:
Originally Posted by Decadeofdave
People under 40 have never seen inflation like this. We have lived it a couple of times, always planned for it. This time is different because we are locked into the high level. Typically demand destruction reduces it. ...layoffs, recession etc.
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this 2020's inflation period was transitory, though a bit longer than the federal reserve had hoped, the inflation of the 70s was not transitory like this, but was more relentless because the cost of crude and derivatives usage was very, very inefficient as compared to today, and there was a much higher mfg demand for energy than today. .
So the 70's inflation is still the boogie man in many boomers memory and are still haunted to this day. .
see the decade of dave's post above for confirmation