So about a year ago the chair of the econ department said he would not remove a question from the common final that I viewed to be wrong (because it is - about the Fed controlling money supply and causing inflation) and gave the example of now where the Fed has expanded its balance sheet beyond reason, but lending did not get out of hand (because in reality lending happens first) and we've seen no rise in inflation even as the economy has improved dramatically... to which he responded essentially that "it's just a matter of time."
Anyway, it's been a year. I'm waiting for all this inflation. Inflation, where are you!
Sorry to any student of Intro Macro that missed that question. Chances are you missed it because you are grounded in reality and not some made up textbook fantasy land.
PS I'm going to kickstart this blog again I think. I took a long hiatus.