I'll Take $1,000. A Loan? No Thanks
Back to the hyper-inflationists. 2003-2007 was about giving the middle class cheap loans so they could tie them around their necks and bungy jump off the nearest bridge. Now, the Lost Boys of the Idiocracy can't figure out why lending the middle class more cheap money isn't leading to inflation. It's because no one is giving away free money, at best they are making loans available to people who are already have too much debt, have no collateral, or otherwise can't be fooled five times in a row. Only the morons managing billions and their stooge acolytes haven't made this basic connection yet.
Here Lies The Third Great Asset Bubble
The ever-dwindling set of beneficiaries of today's latest asset bubble are looking down the tracks into the distance trying to discern what will happen if current policies are continued ad infinitum. They are making the self-delusional mistake of extrapolating the recent past into the indefinite future. More importantly, they are conveniently ignoring the obvious fact that their own bloated wealth is dependent upon an ever-expanding money supply which is a model that does not work in reverse. Today's illusory asset values are supported merely by confidence and the marginal fool's willingness to leverage himself into oblivion by buying assets that are ever-more disconnected from their fundamental valuations. Lastly, this isn't a fucking mystery novel, only an abject fool believes that Central banks can defy reality indefinitely. This liquidity-driven "strategy" is already failing the vast majority on this planet and will soon fail the remainder. Without attendant bailouts, this third bubble in assets, confidence, and stupidity, will be the last...