"The U.S. government has thrown an avalanche of new money into the economy and the financial system. This is the Great Reflation, and its purpose is to pump new life into both after a near-death experience. The biggest financial crisis and recession since the 1930s created a black hole that was big and frightening. It was caused by an implosion of the greatest credit and asset bubble in history, which nearly brought down the global banking system. The effort to reflate - pump air back into the balloon - has had to be on a scale at least as large as the bubble itself... Logic says that if the last crisis was caused by excessive money and credit inflation, even more of the same should cause an even bigger crisis."
- Tony Boekh, "The Great Reflation"