Thanks for the expansion. My oversimplified theory is that central banks created the post-crisis money to replace the mortgage payments on $500,000 loans for $

Thanks for the expansion. My oversimplified theory is that central banks created the post-crisis money to replace the mortgage payments on $500,000 loans for $200,000 houses made to people making $20,000/year that were never going to be paid back. It's not really that the wealth of the payment buyer has increased; it's that the balance sheets of the banks have been expanded.