Effectively, we have two economies - the two modes ( really, complete Pareto distributions ) that seem to have come unmoored to each other. The "upper" mode is

Effectively, we have two economies - the two modes ( really, complete Pareto distributions ) that seem to have come unmoored to each other. The "upper" mode is much more ephemeral and paper-based than is the "lower" mode. It's a frothy stew of bubbly paper goodness. But it's effect on the "lower" mode is not as we would like it to be. So we treat the "lower" mode as its own ( not quite independent but not fully coupled ) distribution, raise inflation and wait. And although the "upper" mode does have real effects, it being more fictional than the "lower" mode means it's much more volatile and less ... real.