this post was submitted on 20 May 2024
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Pretty much every country fired up their money printers to power through covid.
Here is Canada's money supply:
Every other country did the same thing. Although I think governments, companies, and individuals are stumbling through the shock of such an unprecedented injection of supply... Ultimately IMO this is a global "hangover" from covid money printing.
This is why I'm hesitant to over-attribute current economic conditions to things like "approaching limits of growth". To me, those are zebras. Unprecedented monetary supply manipulation are horses. When I hear hoofbeats, my first guess is the horses.
Oh sure for current inflation but everything post 2000 is a house of cards. stock prices completely deviated from earnings as they turned into value holds and income was pulled out via debt.