Fed is printing money and printing like anything. I wonder where all those paper money go and disappear. In spite of so much of money, most of the people, in the world still do not carry a feel good factor. The society is creating extreme riches and extreme pverty. It's true that with free market economy and democracy in place, it's easier for a man to cross those boundaries either way. With good judgement and right strokes of luck, one can become rich, extremely rich. Some poor judgements or not understanding the risks correctly, can make someone pauper also quickly.
We are approaching infinities in both direction. We want to run F1 every time. We are living in a world where we are judged by quarterly performances and monthly sales target. The governments are worried about giving performance for last year of their tenure so that they can reelected. This has set a huge amount of short sightedness in the system.
The economy is inflated already with huge amount of virtual money and we keep inflating it with new set of currencies and bringing more means to make the money virtual. A point is coming, where all the money in your pocket will be a number in your account. I am not sure what is the value of money going to be then. How government are going to decide that they want to put or remove more money from circulation. It will be so easy to splurge when money creation is going to be so easy. In old days, the kingdoms were limited to their expenditure in terms of the physical asset they can lay their hand on. But now governments have printing presses, which can do anything.