[ichabod1]

Oh my god, so what your saying is, these bubbles happened because there were too many paper dollars chasing too few real assets because there weren’t enough real assets to spend them on? That’s the way it’s felt the last ten years or so.

[JasonC]

There were too many houses not too few. Prices don't just go up, they also go down, that was rather overlooked by the inflation brainstorm crowd. But even in the face of massive deflation that wiped out $15 trillion in asset values, they can't get off the ideological hymn sheet and admit we are in a deflation, not an inflation. But we are.