I wonder, are these bullish economic signals or concern about long term inflationary moves by the fed?

I think it's a combination of both. My pet theory is that we are in a high inflationary environment which has been disguised by globalisation keeping non asset prices down.

The US has expanded the money supply, but then as a response, so did everyone else (maybe why they killed the m3? so other nations couldn't keep in step better?) and this has over stimulated the economy.

Assuming no macroeconomic (hedge funds) or geopolitical shocks, we may find that housing prices do not lower in nominal terms, though wage pressures may increase with baby boomers retiring and general inflation will help return us to a point of affordability.

The question is, assuming for a moment this pet theory is right, what do we know? Gold has already asset inflated, and so has real estate.

One possibility are high growth international equities which will leverage globalisation and not suffer from it and are somewhat protected from wild swings in the commodities market.

Hi growth cheap health, cheap hi tech, cheap education is what I am currently considering for my portfolios. For example, telehealth, generic drugs, open source software, and telelearning.

Those are my current thoughts.