For two decades now, the US government his spent far more money than it collects in taxes, and the pandemic has only accelerated the process. Before Covid-19, the government borrowed one of every four dollars it spent. In 2020 and 2021, the deficit is one of every two dollars. The shortfall has been made up by government borrowing and ultimately the printing of new money. A mystery among investors and economists is why all this money creation hasn't resulted in staggering consumer inflation. Glenn Campbell thinks he has the answer: The extra money has been drawn into asset markets, where it will ultimately be destroyed. Starting with the recent $1.9 trillion Covid Relief Bill, Glenn describes the mechanisms behind his "Zero-Inflation Theory", where markets collapse but the U.S. dollar holds its value. Glenn also discusses the role of index funds and passive investing in accelerating a coming stock market collapse. — Twitter: @DemographicDoom — See the video version of this episode for notes, comments, corrections & links to other resources: j.mp/dd_zeroinflation [ep 56, 31 Mar 2021]