Home Base Of The Inflation Deniers

As we showed last week, there is an extra $60 trillion of household assets hanging around the US economy and that didn’t happen by the economic equivalent of immaculate conception. It’s the product of the Fed’s unhinged money printing spree over the last three decades and amounts to gross inflation of financial assets.

To reprise: When Alan Greenspan first cranked up the Fed’s printing presses in the fall of 1987, its balance sheet stood at $200 billion and it had taken 73 years to get there from the Fed’s creation. Now, just 34 years later, that balance sheet is 41 times bigger and stands at $8.2 trillion. And it still growing by $120 billion per month.