Agree. The article is a solid analysis of the complete long term failure of post credit crunch policy, and can be applied globally cos everyone followed the Fed Reserve. However, we need to be aware that the cure is as bad as the disease. The shake out could be catastrophic in terms of jobs, incomes and economic security. And house prices/rentals wont collapse to compensate; sure, they will fall, some projects will collapse, but throughout the West supply is nowhere near high enough to meet demand, so sellers will simply stop selling, and bide their time. Which is what happened in the Financial Crisis.

Daily life for a lot of people will get a whole lot worse I fear...