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" ... Maybe. Lemme take you back to 1986 when the Big Board was delivering zippy 30- and 40-point up and down days. Spot prices for oil had collapsed to a sawbuck per barrel and year-over-year had snuffed out any inflation left in the system. Bond rates broke to 7.5% while the central banks of West Germany, Japan and the U.S. synchronously lowered their discount rates. ... "