Where is the inflation bonfire?
Central banks printed US$25t since 2008, but all that cash didn't create inflation because its circulating slower. Richer, older savers are stashing it, rather than spending or investing it
TLDR: Borrowers, investors, savers and central bankers have worried for over a decade that all the trillions of dollars of freshly printed money and Government spending will spark an inflation bonfire. It hasn’t yet, but is this time different? Bernard Hickey fossicks through the kindling.
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