As enormous amounts of newly keystroked money started to circulated, asset price inflation followed. A temporary energy glut, efficient manufacturing and agriculture practice and the lack of wages growth have kept consumer inflation down ……. for a while.
Rising energy costs are inevitable IMHO. That said I suspect that energy maybe one of many factors that drive inflation in the very long term. In the slightly shorter term the biggest elephant in the room maybe a global credit squeeze but with counterweighting forces in multiple directions the broader impact is hard to predict ……. except to say that the process of economic adjustment is never comfortable.
My suspicion is that the markets have Trump wrong because the market thinks it can predict him.
