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The Death of “Transitory” (And the Life of History)

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This tells you something. At 8:30 a.m. ET last Friday, the Bureau of Labor Statistics (BLS) reported the hottest year-over-year inflation rate in the last 39 years, 6.8%. U.S. Consumer Price Index, 1973 to 2021 Hardly seconds later, the Wall Street Journal—“Stock Futures Rise After Inflation Data”—heralded the good news for stonks. Don’t sweat it, the […]

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This tells you something. At 8:30 a.m. ET last Friday, the Bureau of Labor Statistics (BLS) reported the hottest year-over-year inflation rate in the last 39 years, 6.8%. U.S. Consumer Price Index, 1973 to 2021 Hardly seconds later, the Wall Street Journal—“Stock Futures Rise After Inflation Data”—heralded the good news for stonks. Don’t sweat it, the […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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