I agree this is the likely outcoming, but couldn't disagree more about it being the "perfect treatment". What you had with the housing boom was effectively dev

I agree this is the likely outcoming, but couldn't disagree more about it being the "perfect treatment". What you had with the housing boom was effectively devaluation in a limited sector (along with oil). Inflation causes massive capital misallocations and screwed up pricing signals. Think about how many people who were working in construction and real estate needlessly that could have been working on things people truly need/want. Eventually all those lost man years of effort add up to lost lives in the aggregate.