Commentary There’s now plenty of confirmation that inflation is here and getting worse. Which brings me to a far less noticed consequence of U.S. dollar debasement practices—asset inflation. Think of asset inflation as the pie and ice cream you get in your portfolio when the Federal Reserve conjures trillions of fake dollars to fund government spending binges. Rivers of these fake “currency units” end up like a huge mud flow—and all that financial “sludge” has to go somewhere. When these fake dollars are conjured up in large numbers, it creates a sloshy liquidity that quietly “bids up” the nominal value of stocks. Which is why America’s money magicians need and expect you to happily accept your inflationary wealth gains … then take your “profits”—i.e. you pay your higher taxes and your broker on all those fake gains. If you buy into my argument so far, then the next logical investment …