Yeah, and I'm trying really hard not to read it as "it's inflation but for some reason we're going to not use that word once in this whole article", but can't. They write about a bunch of things that sure seem inflationary ("borrowing money is basically free"—OK, right, so why would that be, and why would it stay so cheap so long, and what effect does that have?), and then also write about how middle-class folks are pulling lots of money out of the stock & bond market to buy houses, so that's why houses are getting more expensive... but the market's gone up like crazy over the last year! It's not like it even had a normal year, despite, you know, a pandemic, and all this supposed shifting of money from it to housing. Crypo's booming. Approximately all asset prices are booming.
If all assets are going up, seemingly nonsensically, what is that? It's a really, really broad-based bubble, or it's the leading edge of an initially-unbalanced-but-surely-it-won't-stay-that-way inflationary wave, no?
