You gotta love this comment from Tom di Galoma, managing director at Seaport Global Securities LLC. He tells the Wall Street Journal: “The enormous demand for Treasurys will remain robust until inflation rears its head which I cannot see happening due to the global deflationary spiral we are well within.”
Global deflationary spiral? But the world’s central banks have printed up trillions and trillions of yen, pounds, dollars, and euros … and bought trillions worth of bonds. They told us it would help the real economy, not just inflate yet another series of asset bubbles. Surely they were right and know what they’re doing, right (cough, NO, cough).
