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A while. of course we had an oil shock in the 70s and a constant underestimation by the federal reserve open market committee on what inflation pressures would be repeatedly before the oil shock hit the marketplace and hit our people. so i m not sure about his statement frankly but voicing a concern why whether i agree with him is not the point or whether austan agrees is not the point. he reflects what markets are beginning to think. he s a market operator. sometimes they get excited about something or discount something. could be right or wrong. and then they change their mind over time so i take note of what he is saying and what he is saying is reflecting what he thinks as a market analyst and investor. doesn t mean he s right. austan, market dow down just about 100 at this point. ....
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