Viktor Shvets explains very well the formidable deflationary impulses that central banks are trying to offset with inflationary monetary experiments.  Important observation:  many of the same people who denounce fiscal spending deficits as reckless debt creation support the monetary policies that inflate asset prices and the debt/leverage now threatening our highly inter-related financial system.

What will the economy really look like when things normalize? Lots of people are, of course, anticipating a sustained rise in inflation, even beyond this burst in prices right now. Our guest this week is skeptical. We speak about the new landscape with Viktor Shvets, a Managing Director at Macquarie, on why he doesn’t see the disinflationary trends changing anytime soon. He also argues that the next crisis could originate in the mania for cryptocurrencies.  Here is a direct audio link.