by Mike ‘Mish’ Shedlock
“Flation” remains one of the key debates of the day.
Some expect huge inflation. Others expect stagflation (a rediscovered buzzword) and still others hyperinflation (yes, some still hang their hats on that one), or even deflation.
Meanwhile, the Fed and other economists have a spotlight on inflation expectations (as if they matter, but they really don’t).
Let’s take a look at “flation”, where it shows up, and where it doesn’t.