> ZIRP wasn’t without inflation, it was just limited to financial assets By that definition, the 1990s were a period of great inflation. Which is... not what t

> ZIRP wasn’t without inflation, it was just limited to financial assets By that definition, the 1990s were a period of great inflation. Which is... not what that word means. > “When I use a word,’ Humpty Dumpty said in rather a scornful tone, ‘it means just what I choose it to mean — neither more nor less.’ > ’The question is,’ said Alice, ‘whether you can make words mean so many different things.’ > ’The question is,’ said Humpty Dumpty, ‘which is to be master — that’s all.” ------------ When financial assets go up in value, that's normally called a "bull market" by the way. Not "inflation". Changing the definition of "inflation" to match your preconceived theories of how the economy works is... pretty much what Humpty Dumpty does in the Alice-in-Wonderland series.