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Wednesday, 05/24/2017 4:05:49 AM

Wednesday, May 24, 2017 4:05:49 AM

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10. Benign inflation created the illusion of wealth and prosperity. After runaway inflation in the 70's, the inflation outlook steadily improved from 1982. Shiller's research found that the public associates inflation with economic prosperity and social welfare. Such perceptions promote positive expectations for the economy and the stock market.

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