DJIA 10k on the horizon ?

I agree with MFAWG in that we are seeing a supply side bubble that will someday no idea when burst.  I'm not to worried about it all being young and what not.  

But my father and uncle who have real money in it are scared to death and in full Glen Beck hysteria mode.  They're biggest concern is the continued devaluation of the dollar with all the cash being created and the Fed maintaining low interest rates.  The other shoe will drop.  They saw interest rates rise toward 20%.  Gold prices hit historical highs.  People from Oklahoma know full well what hyper-inflation can do to accumulated wealth.  I mean it's pretty clear this recession was stag-flation.  

Hyperinflation devalues all the govt spending and the gains in the DJIA are not supported at all by extra GDP output in real terms of goods and services.  So we are all getting an inflation tax and have been for quite some time.  This effects the real avg american too since their real wages have remained stagnant or fallen in the last 10 years.  

Becktards think this is being orchastrated by the administration to make the US have no choice but turn to socialism.  This is where they have no credibility.  But the problem is real, has been for some time but the Fed keeps enacting short-term measures to make us happy for now.  To what extent does this blow up and when, I have no idea.  

Then your efforts would be better spent on lobbying for estate tax reform, rather than imagining we now exist in some sort of weird pre-inflationary hyper-monitized bubble.

I mean, I traveled a lot to Japan in the 90's, enough to have a healthy fear of deflation/stagflation. 

[drink]Here!  Here!![/drink]