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Stagflation. you get that because taxes are going up, these geo political uncertainties is reducing animal spirits so people invest left. let's not forget over the last few days, what was a relatively peaceful process has become more violent and, therefore, more unpredictable. okay for the long term, in the short term, bad news for inflation and growth. >> would you agree with the assessment? >> i'd agree with it in the short term. we're looking at some things that can damage the consumer psyche. since friday we've gone up about $8 a barrel. we pay about $1.1 billion as a country right now for...

Push growth lower. it's what economists call stagflation. you get that because taxes are going up, these geo political uncertainties is reducing animal spirits so people invest left. let's not forget over the last few days, what was a relatively peaceful process has become more violent and, therefore, more unpredictable. okay for the long term, in the short term, bad news for inflation and growth. >> would you agree with the assessment? >> i'd agree with it in the short term. we're looking at some things that can damage the consumer psyche. since friday we've gone up about $8 a barrel. we pay ...

News because it will push inflation higher and it will push growth lower. it's what economists call stagflation. you get that because taxes are going up, these geo political uncertainties is reducing animal spirits so people invest left. let's not forget over the last few days, what was a relatively peaceful process has become more violent and, therefore, more unpredictable. okay for the long term, in the short term, bad news for inflation and growth. >> would you agree with the assessment? >> i'd agree with it in the short term. we're looking at some things that can damage the consumer psyche...