"Central banks are puzzled because they do not know what inflation is, or how to measure it.
"In general, asset prices do not count. Bubbles in stocks and bonds do not count."
"The massive global QE liquidity went someone, as money always does. The liquidity did not go where the central bankers wanted. It went into asset bubbles."
"It’s no mystery why central bankers are mystified: Collectively, they are economically illiterate fools engaged in Keynesian and Monetarist group think."