JunDoJun 🩸

They told you QE was "money printing" and that it would show up in your grocery bill. Look at the order it actually happened in: 1️⃣ 🟦Reserves +104% YoY, May 2020 2️⃣ 🟧Nasdaq +69%, Mar 2021 (10 months later) 3️⃣ 🟩Home prices +20.8%, Mar 2022 (12 months later) 4️⃣ 🟥CPI 9.0%, Jun 2022 (3 months later) 5️⃣ 🟪Rents 8.8%, Mar 2023 (9 months later) That's 34 months from the Fed “printing it” until it hits your rent. Reserves never reach the public. They sit on the balance sheets of the largest domestic and foreign banks, outside M2, and the first thing they inflate is asset prices. Consumers feel it last, through housing. Since 2008 reserves are up 65x while bank loans are up only 2.1x. CPI averaged 1.6% from 2009 to 2019. The money didn't go into productive loans into the economy. It went into the asset base. Powell went on TV and said "we print it digitally" without explaining any of this. The affordability crisis isn't a mystery. It's the Fed Layer, and the people selling you the money printing story are skipping over it