Last I read, the spiking commodities didn't have expanding inventories. i.e. It seems an actual lack of supply is behind those prices and not people stockpilin

Last I read, the spiking commodities didn't have expanding inventories. i.e. It seems an actual lack of supply is behind those prices and not people stockpiling to guard against inflation. Wages also remain stagnant, which would exert considerable drag on any other inflationary pressures. > "With a zero percent fed funds rate, there's no where else for the money to go..." Japan battled deflation, not inflation, despite a near-zero rate throughout their Lost Decade (which is now more like a Lost Generation). They also saw considerable wage stagnation. Our crisis, half-responses and dialogue are almost note-for-note recreations of Japan's experience. But I guess that old yarn about "those who don't learn from history" is around for a reason.