THE OLD NORMAL & drove yields lower, caused herding into risk assets. It funded the least qualified borrowers/corps  helps explain why CPI has exploded (yet) With rates rising & , does this loop continue ?

The below trend line would have been an orderly doubling of home prices in around 33 years (60-120) This would be a 2.1% increase per year, or consistent with . Bubbles are obvious.

h/t @OccupyWisdom