> Still waiting on that inflation. You're waiting on CPI inflation. The inflation that did actually happen was in equities, startup valuations, risk-adjusted

> Still waiting on that inflation. You're waiting on CPI inflation. The inflation that did actually happen was in equities, startup valuations, risk-adjusted debt (interest rates are far lower than the underlying risk would be without QE), fine art, yachts, healthcare, college tuition, etc. None of these are in the CPI because they aren't consumer staples.