History doesn’t repeat, but it often rhymes, and sometimes it “reflects!” Forty years ago, the U.S. was at the tail end of its worst inflationary spiral in history and inflationary fears permeated the behaviors of consumers, businesses, politicians, and policy officials. Here in 2020, after more than a decade of disinflation/deflation, chronically falling/negative yields, and weak/contracting economic growth, economic stagnation fears are rampant and it is like watching a mirror image of 1980.