The focus on our current economic climate frequently seems to be on the experimental dovish policies of central banks and its implications on bubbling asset prices, yet nobody seems to be talking about how eerily close this is predicted by the Austrian Business Cycle Theory[0]. I'm confounded by why the theory is considered by mainstream economists as controversial when in instances such as the dot com and housing bubbles popping in the US it was preceeded by the Federal Reserve contracting the money supply after prolonged periods of money printing. I fully expect the next fatal economic downturn to follow the eventual raising of interest rates, if runaway inflation doesn't occur first[1].

0. https://en.wikipedia.org/wiki/Austrian_business_cycle_theory

1. http://www.economist.com/blogs/buttonwood/2010/05/inflation_...