Photograph by SJ Oberholster.
The one absolute truth about inflation crafted through new money creation is that the fundamental principle of inflation applies. The first recipients to deploy the newly created money gains the most and the last recipients probably lose. This applies equally whether the inflation is in the real economy or whether the inflation is targeting asset prices. Thus, this principle applies fully when Central Banks create new money with the explicit purpose to encourage asset price inflation.
Going back to the real estate bubble of the period 2004-2007 as a preamble to