certainly the younger part of our population, the workers, are going to resent the higher taxation, which seems likely to come becoming down the road at them. I also wonder how they're going to react to that, right? So besides simply demanding higher wages, which would increase inflation, by the way, that's actually an interesting point now that I'm thinking aloud, which is that inflation is the government's friend when it comes to paying out liabilities. So if the government has to cut social security checks, depending on what it decides to index the inflation of those checks to, inflation can be its friend. Does the inflation actually help offset some of the pressure on government expenditures to the age and cohort in this scenario? To a limited extent, yes. But if the inflation is expected, then everyone will try and adjust their position. So they're in real terms, they remain the same. The inflation has got to be greater than people expect, as it is now. The inflation now is much (32/43)
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