The fiscal policy being pursued by the FED is an attempt to walk a tightrope between inflation and deflation, turning what would be a brutal depression into about 12 years of Euro-style stagnation.
Which would be preferable is a matter of debate.
The result is a perfect storm, assets are in deflation while many consumables are inflatiing. This leads to much confusion for the public. the problem will last until about 2022, though things should start improving by 2017 or so.
Enjoy.
If government could adjust its spending and payroll quickly downward, a la the 1920-21 depression, we’d be on the path to 5% real growth yoy.