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[Douglas]

Even including recent weakness, the prices of things of long term value not made in China, land, health care, education, metals, minerals, etc. have been rising faster than reported inflation. Everything that wears out, electronics, clothes, Walmart crap, is falling in price. There's deflation in the price of junk and serious inflation in the price of things of lasting value. So, if short term rates are adjusted by the falling price of short term junk, these rates are high, and if long term rates are similarly adjusted for the rising price of the long term non-perishables they are very low. This inverted real yield curve should eventually put pressure on the stock market, but when. When the price of the short term becomes affected by the cost of the long term. Check out the cost of building factories and the equipment that fills them. It is going through the roof. The very same factories that must eventually make the disposible crap. Manufacturers will soon have to raise prices to invest in the next generation of these factories - that's when.