raising rates and, you know, during 08. So it's a fine balance. And I think policymakers would prefer to be burns than being Trichet. And by the way, this is why you and I are bullish commodities, right? Because you want to hedge that tail where they just say, you know what, screw it, we're not going to hike rates, we're just going to cut rates. That's why you want to be long. Some real assets as a hedge. And the bias here goes back a long way, right? You remember under Bernanke, he said several things that still kind of echo in history, like, you know, contained in talking about subprime. But as they started to, you know, do QE full bore coming out of the crisis, you know, his big thing was, you know, if inflation becomes a problem, we can raise rates in 15 minutes. It's like, wow, you are so confident you can get that genie back in the bottle. Have you ever been to Brazil or Turkey? Because when the fiscal is rolling against you, it takes a little more than 15 minutes, buddy. But (46/57)
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