Inflation Chronicles, Part 1: Art Prices So High, “The Crowd Forgot To Clap”

"Depending on which expert is talking, the world is either falling into a deflationary abyss or launching an inflationary moonshot. What’s truly weird and fascinating is that they’re both right. The mountain of debt taken on in the past few decades exerts a profoundly deflationary pull on the economies of Europe and Japan, and to a lesser extent the US. At the same time the torrent of currency flowing out of the world’s central banks is swelling the accounts of the super-rich who are converting it into real assets as fast as they can, causing near-hyperinflation in some favored markets. Hence the spectacle of Paul Krugman (and most Fed governors) complaining about low inflation and warning of a deflationary death spiral, while things like this are happening:..."

at http://dollarcollapse.com/inflation/inflation-chronicles-part-1-art-prices-so-high-the-crowd-forgot-to-clap/