Indeed. Of course every real thinking person knows the inflation is in asset prices (aka stocks and real estate) as well as in health care. The Fed has created a ticking time bomb in the largest bubble of all of the bubbles they have ever created. Stocks, bonds (especially EU periphery bonds), real estate, and debt are at extreme levels and the CBs will be overwhelmed by the next financial crisis. The US markets are, I think, already signaling that they have reached a top. We will be buried in debt when the next recession takes hold.
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