Here’s the quarterly update of the household assets chart from the Federal Reserve’s Z1 Flow of Funds report showing how, so far, the central bank is succeeding in keeping overall asset prices inflated following the most recent crash in late-2008 and early-2009.
The real estate bubble keeps deflating, but they’ve been doing their best to keep pushing air into what, up until six weeks ago, appeared to be a new stock market bubble centered around technology shares and IPOs reminiscent of the glory days of the late 1990s.
What a way to run an economy…
