Exactly. The money supply is expanded by stuffing the top end, the middlin-and-below credit consumers are already stuffed and/or maxed out, so, unsurprisingly,

Exactly. The money supply is expanded by stuffing the top end, the middlin-and-below credit consumers are already stuffed and/or maxed out, so, unsurprisingly, the high end is trading stuff back and forth and higher and higher prices. This is one reason that, despite the fact I lean anarcho-localist, I tentatively support a citizens dividend: if we are to have a fiat monetary system we could at least make the expansion thereof equitable and eliminate the early-receiver advantages in New York and D.C.