It’s not a crazy opinion to hold.

I don’t think he’s right, but I don’t think he’s crazy either. It’s one scenario that should be talked through.

To me it seems like Central Banks are out of control. They are captured, they don’t work to lift household incomes. They are 99% focused on bonds and 1% focused on households.

It’s just wrong to keep transferring wealth from households to bonds. The only defence seems to be “but bondholders lobby really hard”.

It’s weird that we do this.