Quote:
Originally Posted by Slava
The pundits said the same thing at that point though. There was plenty of talk that they will never be able to get that money out of the system, gold as an inflation hedge was going to $5000, we're going to see hyper-inflation and everything else. Literally none of that came to pass.
I will say that I won't be surprised if we see the central bank(s) raise their inflation target to 3% from 2% though. I think that is coming, that Canada won't be alone in that, and it's going to be interesting in how they start to make that move.
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You understand why none of that came to pass right? It most certainly wasn't by sitting on their butts. The credit crisis was very very real and we got dangerously close to total collapse.
Your post would be akin to laughing about how Y2K was nothing, when in reality there was years of dedicated work to prevent the worst case scenario from occuring.
Likewise, right now global banks are scrambling to right the ship now and likely overcorrecting, but inflation warnings were left unheeded for way too long. What we are facing today did not need to happen the way it has.