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Is everyone pretending to understand inflation (or just me)?
Mark Blyth
So what that means is you have the government spending a lot of money. You've got a lot of people taken out of the labor market, shipped off to Southeast Asia. You've got a lot of government spending, all this sort of stuff. And the basic gloss of the story is that everybody was spending a lot of money then, more than they could cover with taxes.
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