Arent a lot of covid schemes in the UK coming to an end now? furlough, seiss etc; Ive seen a lot of people unhappy on twitter over £20 being cut from universal credit
Ive not kept up to date with the US stuff but just checking I see the US supreme court has overruled a ban on evictions and also covid unemployed benefits have been stopped September 6th
So yes seems like a lot of help is coming to end, but thats ok because im sure everyone will be employed and wanting to spend spend spend right? and it will be a very hot economy leading to some very inflationary conditions 🥵
Or is it people tend to focus on what governments and central banks are doing too much and not whats missing and why theyre having to do anything in the first place, hint: its not because things are going well and conditions are inflationary
This picture just says it all
Where would consumer and business debt be no financial crisis? theres missing trillions that would would have been created otherwise
You can see the same for business, for imports, to countries GDP
Look at Chinas GDP, from growing 14% in 2007 to, by their standards, barely growing at 6% in 2019, why the slow down?? a decade after US QE started, wow the Feds balance sheet goes up lets focus on that.. meanwhile the real world shows something is missing
Can you really look at this stuff and deny reality that its deflationary?
You guys are obsessed with central banks and Powell, I love Jeff Snider.