Raoul’s macro view is quite different from the mainstream narrative. And he’s spoken to many of his friends recently in the Journey Man series, experts who are tilted toward a view that secular inflation is upon us. Raoul wanted to hear from someone with views similar to his own, to reorient with, test the validity of, and better understand his own framework. Eric Basmajian has independently arrived at similar conclusions, but he offers nuanced takes apart from and complementary to Raoul’s current views. Listening to different arguments about the business cycle and the secular framework, from inflationists to disinflationists, helps us see both where we’re right as well as where we’re wrong. Recorded on March 28, 2022.