It's all predicated on higher interest rates - which really is inevitable. The US FED is printing up money on an unprecidented scale thereby driving down the US dollar, thereby creating inflation, thereby putting upward pressure on interest rates.
Japan did the same thing in the 1980's, printing money as fast as they could run the printing presses, and yet Japanese inflation and interest rates stayed near zero, in fact went negative, for around a decade. It is NOT inevitable. We are not that lucky.
In fact, rather than face inflation, it is much more likely that we will experience crippling deflation.
Ordinarily you can fend off deflation by printing money, but due to the depression economics we're stuck in, printing money is impotent: No matter how fast the Fed prints it, inflation does not respond. That is NOT a good thing.
It means that people are hoarding the printed money. Put another way, assets (especially real estate assets) are declining in value at a faster rate than the Fed is printing money: Think about what dollar value is associated with all of the real estate in the United States: If that real estate drops by, say, 30% in value, how much money do you have to print to avoid severe deflation?
I too yearn for those good old days when monetary policy was as effective as you seem to imagine it is. Nobody believes that the Fed has that kind of power anymore--it practically does not matter what the Fed does. No matter how much money they print, we have to deleverage, disinvest, and deflate.
