I hear everyone saying this. It seems like 12-years of global QE is gonna cause a massive spike in inflation. Everyone's valuing things as if there's been hardly any inflation since 2007.
The reality is, there's 120% MORE narrow money (M1) today than there was in 2007. There's also 74% more board money (M3).
Has there ever been a long period (12 years, in this case) where we've had only ~25% inflation with ~120% growth in the money supply?
Naively, it seems like there's either too much money (not sure how you solve that) or everything is too cheap.
Well the main issue is all of this money is going to the wealthy. And while I don't have hard data to back this up, it feels like 'inflation' is rampant in the things that wealthy people throw money at, e.g. stock market, real estate, art, etc...
The reality is, there's 120% MORE narrow money (M1) today than there was in 2007. There's also 74% more board money (M3).
Has there ever been a long period (12 years, in this case) where we've had only ~25% inflation with ~120% growth in the money supply?
Naively, it seems like there's either too much money (not sure how you solve that) or everything is too cheap.