Certainly. There are big differences between now and 1940s in many things: manufacturing capacity, education levels, societal cohesion, easier acceptance of ris

Certainly. There are big differences between now and 1940s in many things: manufacturing capacity, education levels, societal cohesion, easier acceptance of risk to life, etc. etc. I am just saying that purely from the economic perspective and its key characteristics of asset prices and inflation (that the author focuses on), today is much closer to the 1940s than to the 1970s. And I am personally investing on this assumption, as I think that the fiscal and monetary choices that US will be forced to make will drive the economy along a path with many similarities to the post-war decade. Just my 2c (and, obviously, not an investment advice).