Bloomberg writer Lisa Abramowicz calls it the $50 Trillion Conundrum.

As most Mish readers understand, there is no conundrum. Let's go over why, one more time.

There's been a lot of discussion about how much cash investors are holding these days.

BlackRock puts the figure at more than $50 trillion, a figure that includes a host of different metrics, from central-bank assets to financial-firm reserves and consumer savings accounts.

Other measures show a similar trend. Private-equity firms are amassing great piles of liquid securities, with Blackstone saying that nearly one-third of its assets are in cash. Fund managers in general have boosted reserves as a share of their portfolios to levels that match the highest since 2001.

So what is the meaning of this trend toward bigger cash cushions? Several weeks ago, my response was to say that all this money will support asset values going forward. That may have been too simplistic.