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What Printing Money Can Do
By
Jack McHugh on yesterday's rally:
I worry less about the monthly squiggles in the economy than I do about
how we pay for everything in the out years. It may all be a bit
confusing, but that’s what printing money tends to do. The excess
liquidity tends to find a way into the asset markets, and it gives
everyone an ersatz sense of confidence.
(Chart by Doug Short)
