Inflation comes in many different varieties. For example, I was attending a CSLA conference and CSLA compiled in the year 2009 a basket of different goods and services in Singapore. And as of today that basket is 85 percent more expensive than in 2009.
So the money printing in Europe and in the US does not necessarily have to lead to inflation in US and Europe for the time being, but it has led to huge price increases here in Asia in countries like India, China, Vietnam, Singapore, Hong Kong where we have record prices for properties and as property prices have gone up a lot, the shops have to demand higher prices in order to maintain their margin and make profit and so consumer goods have also gone up a lot in price.
So there is inflation in the system.
In the US I just read, that in Chicago the city retirees next year will pay 40 percent more in health care premiums. So these are all symptoms of underlying inflation.
