It constantly comes up: With all this central-bank money printing and the zero-interest-rate policies and the negative-interest-rate policies, and all these central-bank liquidity injections, in other words, with all these loosey-goosey monetary policies around the globe, why are we not seeing huge bouts of inflation? And then, some folks take the next step and say: Well, since we’re not seeing big bouts of inflation, these loosey-goosey monetary policies should become standard, perhaps run by the government, instead of a central bank, and renamed Modern Monetary Theory, or whatever, because it will give us all this ... (full story)