Taiwan this week posted the best economic numbers in its modern history. And also — depending on who you are and what you own — one of the most anxious consumer confidence readings in years.

That split isn't a contradiction. It's the inflationary world working exactly as designed. Pricing power compounds. The lack of it compounds too. The Japanese retirees who saved cash their whole lives and got destroyed by the first real inflation in thirty years didn't do anything wrong. They just built an immune system for the wrong disease.

Taiwan's immune system is extraordinary. The question it can't quite answer yet is what it's immune to — and what it isn't.