Whither inflation.....................................?

Over the course of the last 7 years there have been a series of excuses for why bad inflation predictions turned out to be bad.

The most prominent excuse is that the bad inflation predictions weren’t wrong, but merely haven’t been right just yet.

This is a classic move in economics. If you want to ensure that you’ll never be wrong you make a prediction, but never apply a time line. That way you can always kick the can on your prediction and say you haven’t been wrong, but merely early. This is a wonderful way to go bankrupt in the financial markets and is often a strategy utilized by morally bankrupt economists.

-as excerpted from this Business Insider post

As we have mentioned before, in our wee corner of the universe, we are a bit more concerned about the prospects of deflation than we are about inflation.  While acknowledging the need to be careful about what one wishes for, just a smidgen of inflation might be a useful thing right now.