Ann: Quarterly Activities Report, page-94

Thanks for your insights on both those points.

I like the idea of rates lagging behind inflation. Letting the economies run a bit hot. Without any black swan event(s) - the major economies could run hot for 10+ years. I'm not hoping for high inflation. A progressive rise would be lovely. With the massive US govt spending in the next 6 months I suppose that Greenspan's stagflation will be postponed. The cycle now moving from business growth into growth with inflation. Later his recession with inflation. Lately I've been trying to learn about the effects of reduced QE by the ECB and the corresponding reduction of their huge US bond purchases. Seems that a burst of the bond market bubble will be clear inflation signal. Any thoughts? Perhaps reduced foreign bond purchases is part reason why Greenspan sees US stagflation coming rather soon.

This Friday's US jobs report with any suggestion of wage rises will make Monday ASX goldie trading very interesting. Perhaps Wednesday's Fed briefing will spice things up even sooner.

I know RSG is a gamble, but I'm liking it, a lot. They have time to get things right. So cheap now. At present I cannot see a global economy end game without inflation - on purpose. How else will liabilities be paid off? Sure some slow downs here and there, then off it goes again.

How good is this graph!? https://fred.stlouisfed.org/series/M2V