Are We Living in a Crack-Up Boom?

m0 dollar money supply

Since at least 2008 central banks have poured money into the economy at an accelerating rate. Now twelve years later, the temporary printer that was turned on back then not only hasn’t been turned off, but has seen the addition of new shiny bazooka printers. To stop a bust after a debt fueled boom, banks and other companies were bailed out. For good maybe they thought, except as it happens they now need to constantly stop the bust by more and more increasing the money supply. That’s to the point where Jerome Powell, the Chair of the Federal Reserve, has stated there won’t be a monetary tightening even if inflation runs above 2% for some time. That’s even while prices increase, monetary expansion will keep increasing, in what may well be a very dangerous combination. That’s because all this is starting to sound like a crack-up boom, described in summery…

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