Too Much Money and No Money to be Made

A Treatise on Unsound Money: Part 2 Written by Derryl Hermanutz Day after day, day after day,We stuck, nor breath nor motion;As idle as a painted shipUpon a painted ocean.Water, water, every where,And all the boards did shrink;Water, water, every where,Nor any drop to drink.Samuel Taylor Coleridge, The Rime of the Ancyent Marinere Asset price inflation is the first round effect of excessive bank credit creation.  You can blame the borrowers if you like, but which one of these parties holds himself out as a "financial professional", the banker or the rube asking for a loan?  Bankers are supposed to "underwrite" the loans they make, which means doing some research to satisfy themselves that the borrower will be able to repay the loan.  All the rube has to do is walk into the bank and ask for money.  It's the banker's job to know whether to say yes or no (I've heard s...