Inflation is at the lowest level in my entire life. And I'm an old, old guy, so that's a long, long time. So why are investors so worried about it?
Part of it is that they are being told to be worried about it. Yesterday's banner headline in the Wall Street Journal said something like "Inflation Worries!" But if you start reading the article, you discover they are really talking about China, where inflation is indeed a serious concern.
But not here. Not now.
Indeed, if we're not careful, we'll start having deflation, which is a real barrel of laughs for anyone who owes any money to anyone.
We have more important things to worry about than inflation right now.
Like unemployment.
So why not worry about that instead?
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