Why can’t the financial elite stop worrying and learn to
love this market rally?
From WashPo: "....Let’s start with inflation. Many of the strongest critics of
central banks’ easy money policies are
convinced that we either already have, or soon will have, high inflation. Most
price measures show inflation that is actually below the 2 percent that the
Federal Reserve aims for, but a common view among the financial commentariat is
that either those numbers are cooked or that eventually they will zoom upward
and the central banks will be unable or unwilling to raise interest rates to
contain it.
"They could be right — we are in uncharted territory for
central banks. But while joblessness and below-par economic growth are the main
economic stories across the developed world, it seems like an odd time to worry
so much about what seems like a distant threat. And inflation may be more
troubling for wealthy investors than others; if you are a large investor, you
are probably a net creditor, and thus have plenty to lose if inflation means
you get paid back in less valuable dollars…."
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