From Market Oracle
By John Mauldin
''Inflation in the U.S. has historically been a wartime phenomenon,
including not only shooting wars but also the Cold War and the War on
Poverty. That's when the federal government vastly overspends its income
on top of a robust private economy—obviously not the case today when
government stimulus isn't even offsetting private sector weakness.
Deflation reigns in peacetime, and I think it is again, with the end of
the Iraq engagement and as the unwinding of Afghanistan expenditures
further reduce military spending.''
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