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The Importance of Quantitative Easing in the Economy
I'm not sure at what level of quantitative easing needs to happen to offset all of this, so much so that you can upset the apple cart the other way. I just don't see that it's possible. Right, and these forces that you're talking about are bigger than anything that they're capable of ameliorating, really. And if fiscal authorities decide to get very aggressive, and with central banks monetizing that aggression, isn't that a possibility? It could be massively inflationary. If it was, then Switzerland would have huge inflation, so would Japan. There is, and it's not necessarily good for asset prices, as we've seen in Japan.