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A second, related, argument is that the US Federal Reserve and other major central banks are being excessively accommodative with policies that combine monetary and credit easing. The liquidity provided by central banks has already led to asset inflation in the short run, and will drive inflationary credit growth and real spending as economic reopening and recovery accelerate. Some will argue that when the time comes, central banks can simply mop up the excess liquidity by drawing down their balance sheets and raising policy rates from zero or negative levels. But this claim has become increa...

April 13, 2021 | It’s Probably a Duck Steve Saretsky Steve Saretsky is a Vancouver residential Realtor and author behind one of Vancouver’s most popular real estate blogs, Vancity Condo Guide. Steve is widely considered a thought leader in the industry with regular appearances on BNN, CBC, CKNW, CTV and as a contributor to BC Business Magazine. Steve provides advisory services to banks, hedge funds, developers, and various types of investors. At the onset of the pandemic, Bank of Canada Governor Tiff Macklem pounded the table, urging Canadians to borrow money to prevent us from sliding i...

Readers reply Much of it is coming from the Bank of England (BoE) – in effect it’s printing money. This is not as bad as it seems as money has been “destroyed” by the actions necessary to address the pandemic and it is the role of government to replace it. If you want to understand this better, may I recommend The Deficit Myth by Stephanie Kelton, which explains the basis for Modern Monetary Theory. It does not mean that governments can print money regardless but it does explain how the abandonment of fixed exchange rates pegged to the gold standard has changed everything. After readi...

'Tucker Carlson Tonight' hosts slams politicians for creating nothing while taking Americans' money If you watched Joe Biden sputter through his announcement of the administration’s $2 trillion "infrastructure plan," you may have been left with some questions. First, is this really about infrastructure? Bridges? Roads? Airports? Things we could actually use? Or is it yet another weird climate scheme/power grab/race-based redistribution plan? What exactly is this? And by the way, $2 trillion sounds like a lot for anything. Won’t that kind of spending cause hyperinflation? If you pr...

Nasdaq Rally, Infrastructure Bumps, Cards Off the Table, Microsoft's 'Pennant' Yes, the cost of doing business in the U.S. is going higher. How close are we to becoming an artificially managed economy, which by the way has failed on every attempt made in human history? Stocks quotes in this article: KMX, ACCD, MSFT Through a dream Lost in the mist Pounding my fists A boy goes in and suddenly a man returns -- "The Oath" Stanley, Powers, Ezrin (Kiss) 1981 Time Passages The day, the month, the quarter all came to a conclusion on...