Woof All:
This thread is for admitting where we thought we were wrong.
I'll kick things off.
Like many, I anticipated huge inflation due to the Fed printing scandalous amounts of money. Though this may yet happen due to the inherent contradictions of the path upon which we are embarked, I have come to belief that Scott Grannis has been correct on this point-- that bank reserves are not the same thing as printing money.
TAC!
Marc
