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Morgan Stanley: Brace For A Spike In Inflation As Congress Is Now In The Money Supply Driver’s Seat
Just days after the famous (former) deflationista (turned reflationist) Russell Napier explained why he believes that central banks have "become irrelevant" in a world in which governments have taken control of the money supply, none other than Morgan Stanley's Michael Wilson (whose bullish market outlook on risk assets is predicated on the foundational view that the coming reflationary tsunami will lift all boats) has published a note agreeing with Napier and pointing out that not only is M2 exploding at a pace never seen before, but also writing that "Congress is now a critical player in driving money supply ... (full story)