Or maybe those rising stock prices are the result of all that additional productivity now made possible by 3G/4G, Android, and iPad:
Lauren is correct. Look at the TNX compared to when QE was instituted in all cases and then what happened when it ended. When The Fed intervenes it says it is trying to depress interest rates but in fact the opposite happens.Some of you will recall I tried to explain that credit was money to Mr. Schiff, but to no avail. It's not that M2 doesn't matter, it's just that Z1 matters more. What I don't understand is why those individuals who say that debt doesn't matter always insist on increasing taxes. If debt doesn't matter, then why tax anyone? We're already borrowing and spending more money than we used to tax-and-spend, so obviously, there is no need to fund the government through taxation.
Why? Because interest rates are the time-value of money including the expected devaluation. When you raise that figure rates go up.
In addition credit and currency are fungible.
Peter has long argued for "coming hyperinflation." He's been dead wrong. He's wrong because the inflation already happened through the issuance of bogus credit.
Doubt me? What do you call stock prices going up by a factor of 14 over the last 30 years?