It's easy to engineer a credit expansion--inflation--in the economy when all of the real estate and stocks have been discounted--lost--80%+ off their pre-depression price levels.

Bernanke has been trying to create inflation--credit expansion--since December 2008 and even a trillion dollar unfundable deficit can't do it! Why?

Asset prices aren't cheap.

The fact that unemployment strangles wage increases-inflation--and might be enjoyed by corporates seems lost on everyone in these discussions.

It's taken trillions and billions of guarantees--insurance--, subsidized purchase programs, credits and special financing programs to take the SP500 just back to October 2007 levels. The Nasdaq is still, what, 40% off of the tech top from over a decade ago?

But wait, Apple is minting money--true-- and AMZN is still losing money! The NDX is nothing without those two favored stocks.

Correlation vs. causation, pal. Don't conflate the two!

Cheap assets and labor drive credit expansions and economic fortunes.