Turns out narrowly defining inflation so as to exclude financial asset inflation leads to rampant financial asset inflation, massive increases in inequality, wealth concentration and precarious dependence upon further asset inflation to keep the ponzi running, and ultimately real inflation as it bleeds into the "real" economy.
I hope the few year's worth of self congratulatory pats on the back were worth it.
I hope the few year's worth of self congratulatory pats on the back were worth it.