At its greatest, inflation is a measure of optimism. You recognize 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 recognize what these spikes represented? Sending our troopers throughout the pond to save lots of hundreds of thousands of individuals from a delusional little cokehead named Hitler, then shopping for the boys steaks and Chevrolets to have a good time (and in addition sending the white ones to varsity. 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.