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This measure of liquidity is currently growing at its fastest rate for ten years.Just as too much money in the real economy chasing too few goods causes goods-price inflation, so too much money in the financial sector chasing too few assets causes asset-price inflation.
Stores have few goods.
And when many buyers are chasing few goods, prices rise.
Very few goods or services show declines in sales with declines in prices.
Few goods come into it from outside, though disease is rampant and security fragile.
Inflation used to be described as too much money chasing too few goods.
Quite the converse: small countries are naturally open because few goods are locally produced.
Being mobile meant carrying few goods and only those that were light and not fragile.
I also relied on a few goods from civilisation for pleasure: including vodka and cigars.
Both import relatively few goods, compared with the overall size of their economies.
But Trump is right that a few goods still face high barriers to entry.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com