08/04/2017 - Mish Shedlock: Central Banks Do Not Count The Inflation That Went Into Asset Bubbles
“Central banks are puzzled because they do not know what inflation is, or how to measure it. For example, instead of using home prices in the CPI, they now use Owners’ Equivalent Rent. In general, asset prices do not count. Bubbles in stocks and bonds do not count. The massive global QE liquidity went to someone, as money always does. The liquidity did not go where the central bankers wanted. It went into asset bubbles .. It’s no mystery why central bankers are mystified: Collectively, they are economically illiterate fools engaged in Keynesian and Monetarist group think.”
Central Banks Puzzled as Global Inflation Hits Lowest Level Since 2009: Solving the Puzzle
