Norwegian, I have thought much about the not only the US economy but also the macro economic conditions world wide since the beginning of the run-up back in 2003-2004. To say we were busy during those years would be an understatement but even while it was going on red flags were popping up in my head. What I was seeing all those new houses and McMansions sell for and knowing the financial condition of many of the people who bought them just made me wonder what in the world was going on. Young families with practically zero credit history getting 100% loans for houses that were in the $300K range just didn't add up. Especially when I knew their household income was maybe around $40K in a good year. You could just see it was a house of cards waiting for the right economic wind to blow it all down. Where was all the money to finance those homes coming from? How did the owners ever expect to pay off their house? In hindsight we can all see it was nearly criminal level activity by the banks, absolutely ludicrous mortgage and finance laws being passed by our lawmakers and a total failure of basic math on the part of the buyers. The basic assumption was that housing and other property values would go up continually and everyone would make money. Unfortunately as you have pointed out, history tells a different tale. Nothing goes up forever, nothing continually expands without destroying what it is founded on. In fact, the only thing that grows continually once started is commonly called cancer. But these are all things that we know and some of us fell victim to. I got taken to the cleaners in 2007 for over $50K when the GC/builder of a $1.4 million "spec" home went belly up. Still recovering from that............. The question in my mind is how the current economic experiment will ever be resolved. Again, as you have pointed out, history tells us that endless money printing and devaluation of fiat currency always ends in disaster. Many lawmakers and our own Federal Reserve seem to think they can manage things in a way that, to quote one economic writer, "This time is different". I don't see how it can end any differently than it has in the past. I suppose it would just be conjecture but how do you see things "ending"? A gradual unwind over what will seriously take decades or an Armageddon event?