I mostly agree, but I do have to point out that inflation has occurred. It's just been confined to a limited number of areas. Housing is completely insane in ma

I mostly agree, but I do have to point out that inflation has occurred. It's just been confined to a limited number of areas. Housing is completely insane in many areas when compared with median income, and that's largely a side effect of cheap money. Food, fuel, college tuition, and health care also continue to inflate, with tuition being almost as bad as housing. Hyperinflation is almost impossible in a highly leveraged credit economy, but cheap money has to go somewhere. I'm personally unimpressed with all the various schools of economics. Sometimes it seems like astrologers and palm readers arguing over which technique happened to randomly seem to work last time.