Like With Real Drugs, We Will Face A Painful Monetary Withdrawal – Or An Oversose.

ANOTHER WAY TO LOOK AT THE #MONETARY SYSTEM

#QE and #ZIRP ——> #inflation in #financial #assets, #housing, #bond markets, perceived #wealth and optimism

#QT and hiking ——> #deflation in financial assets, housing, bond markets, perceived wealth and pessimism

Or

A premature reversal in policy —-> inflation during recession

h/t @OccupyWisdom