Actually this is what the Fed wants.
To them this is successful reflation, now the plan will be to try and restrain it, and let inflation rate go to an asymptote.
In Benny’s brain, things are going swimmingly, and he only had to borrow a few trillion to make it happen.
To come:
Money spent on ObamaCare instead of monthly house payment.
Someone needs to explain to me how an over priced housing got to be a measure of a healthy and robust economy. How is keeping hard working Americans slaves to mortgage holders for 40 years good for economic growth?