We're heading for an inflationary decade that will change society as we know it. That's according to Vincent Deluard, director of global macro research at StoneX Group Inc, who argues inflation is not transitory as many insist but rather a feature of the new economic landscape that investors must prepare for. On the seventh episode of Forward Guidance, Deluard gives Blockworks' Jack Farley 5 reasons why high prices are no longer the cure to high prices, including today's tight labor market, the flurry of post-Covid spending packages, and China's withdrawal from its role as an exporter of deflation. Deluard argues that inflation itself is inflationary; while soaring commodity prices, supply chains bottlenecks, and excessive stimulus are undoubtedly the immediate drivers of the current spike in prices, the fundamental driver of secular inflation is an insidious increase in our collective preference for the present.