Inflation is essentially antidemocratic.
-Ludwig von Mises
It's back!
After bottoming in mid-November, one proxy for global inflation (CRB Commodities Index) has put in a big +3% move off the year-to-date lows (the CRB Index was down -8% year-to-date on the lows, fueling real-consumption growth).
Almost every major economic region (other than Europe because they have #StrongCurrency) will see inflation pickup sequentially in Q1 verses Q4.
Yes – monetary policy has consequences. More to be revealed.
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