Despite unlimited money, the value of money seems to go up. Naturally, equity and real estate prices has risen dramatically, but inflation won't move. Real prices and wages have remained pretty flat the last decade(s). It seems that CPI is a rather poor way to measure inflation these days. That said, it isn't all that clear if we have soaring inflation (which the equity & RE prices would indicate) or deflation (which low CPI despite free money would indicate).
So what do you guys think: what do we have, in the big picture? Inflation, deflation, or something else, like "inverted stagflation"? |
