> If you believe this, isn't the rational thing to use your dollars to buy assets? If you have leftover capital after consumption, then yes. >I think you're b

> If you believe this, isn't the rational thing to use your dollars to buy assets? If you have leftover capital after consumption, then yes. >I think you're betraying a deep mis-understading of how money works. QE has been raging for 10 years, but inflation is incredibly low (2.5% US, 1.5% EU). In other words, even though you claim that the FED "gives asset holders free money", when you hold cash you're not really losing purchasing power. How do you square the two things? Housing affordability crisis in nearly every urban centre.