Possibly responding to hints by ECB president Mario Draghi of monetary stimulus, stocks around the world are up today; the S&P 500 over 1900 (about 2% above yesterday’s close). Anyone who wants to understand why stock markets have been swooning since the end of 2015 should take a look at this chart showing 
the breakeven TIPS spread on 10-year Treasuries over the past 10 years.
Let’s look at the peak spread (2.56%) reached in early July 2008, a couple of months before the onset of the financial crisis in September. Despite mounting evidence that the economy was contracting and unemployment rising, the Fed, transfixed by the threat of Inflation (manifested in rising energy prices) and a supposed loss of Fed credibility (manifested in rising inflation expectations), refused to continue reducing its interest-rate target lest the markets conclude that the Fed was not serious about fighting inflation. That’s when all hell…
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Utopia, you are standing in it! 
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