now both these markets are assuming that inflation will be stable, with real rates and price-earnings (P/E) multiples
reflecting that stability. And you do not get to go to heaven
twice for winning the war against inflation—the “peace dividend”
is paid just once, as the victory occurs, not year after year
in its aftermath.
reflecting that stability. And you do not get to go to heaven
twice for winning the war against inflation—the “peace dividend”
is paid just once, as the victory occurs, not year after year
in its aftermath.
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