Very good set of observations. A little limited on the inflation/deflation characterization, but stagflation confuses us all, especially those of raised with the Phillips Curve. Here is my 2 cents on SBV: https://medium.com/@daneke/too-big-to-fail-just-got-smaller-we-are-no-longer-a-nation-with-banks-but-banks-with-a-nation-31fc0e5cd34b