All the excessive printed money from QE1 / QE2 went into property and stocks, which then get wiped out in a crash like it is now. Side effects include inflation in prices of necessities.

The smartest (or luckiest) guys would have bought low and sold when the market overshot its fundamentals. Keeping cash is not a stupid thing to do in times like this.

Those who argue that keeping cash doesn't beat inflation will have to face worse consequences of having their investments wiped out in the currently unfolding property and stock crashes.

Good luck to all.