Governments enjoying surpluses have a very strong temptation to splash money around, and while tax cuts are always appealing, cutting taxes at the top of a boom runs the real risk of creating a structural deficit when the boom subsides. ↗
When the intensity of emotional conviction subsides, a man who is in the habit of reasoning will search for logical grounds in favour of the belief which he finds in himself. ↗
With the sugar market hysteria, the people are obviously worried and expect higher inflation. When this hysteria subsides, which we're probably observing, then I hope that people will also get less worried about the future of inflation. ↗