The last global dual shock of similar magnitude (war + pandemic) occurred a century ago with World War I followed by the Spanish Flu, which produced 4 years of 15% inflation; when F. Scott Fitzgerald wrote The Great Gatsby (1925), there was no mention of great inflation, and the 1920s-30s saw a decade of no inflation followed by deflation.
factualpending
Speaker
David RosenbergEvidence Quote
“The last time that we had a dual shock of this magnitude globally uh was a century ago with World War I...that was 4 years of 15% inflation...when F. Scott Fitzgerald wrote The Great Gatsby in 1925, there is no mention of the Great Inflation”
Source
DoubleLine Round Table Prime, 2023 - Part 1: Macroeconomic State of Play 1-4-23— DoubleLine CapitalCreated: 8/11/2026, 1:33:48 AM
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