my take is simple : All inflation is monetary AND there is no good inflation.
"Why has the period 2002-2008 been so inflationary for commodities? Central banks, notably the US Federal Reserve and European Central Bank (ECB), have categorically denied any link between their monetary policies and oil and commodity price inflation during this period. Instead, they have blamed it on rapidly growing Chinese and Indian demand for oil and other commodities and on constrained supplies on the part of producers."
Betting the farm on oil
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