At its greatest, inflation is a measure of optimism. You know when else it was excessive? In 1942, U.S. annual inflation was 10.2%. In 1946, it was 8.5%. In 1947, it was 14.4%. You know what these spikes represented? Sending our troopers throughout the pond to avoid wasting hundreds of thousands of individuals from a delusional little cokehead named Hitler, then shopping for the boys steaks and Chevrolets to rejoice (and likewise sending the white ones to school. Irony!). We spent the cash, did the factor, then basked within the fruit of our labors. And all of it appears to have just about labored out.