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The Impact of Inflation on Asset Prices
Despite the very high levels of inflation in the US bond yields have just continued to go down. The higher price of the bonds is just a statement that the interest rate is going down okay so it's the liquidity that's driving everything. There's a huge amount of moral moral hazard associated with what the central banks have been doing in my judgment. People recognize that the prices create back to my one two three four people recognize the prices crazy and they say oh I'm out of here"