[bhouston]

> My pet theory is that money supply and inflation no longer have much of a correlation. In fact, they might never have.

They have stronger correlations in small country economies. The US economy is sort of uniquely positioned in the world and that makes its exception and more complex. I think that with the US economy is that the repercussions of actions are delayed because the interconnections slow reactions down -- although this also lets things get unsustainable before the correction actually takes place.