1 vote

Lessons in inflation , Esp of Bill 3

For decades now, the U.S. has inundated the world with dollar balances. Our central bank was never held accountable. I fully expect acrimony to now play catch-up. To be sure, policy measures since the 2008 crisis only pushed this entrenched Dollar Bubble to “parabolic” extremes. The conventional view holds that EM is significantly less vulnerable today compared to back in 1997. From my perspective, excesses over recent years absolutely dwarf those that preceded the '97/98 crisis.