Mostly agree with you on all this.

Having said that, I heartily disagree with your take on interest rates vs. inflation. The thing to consider is the inflation-adjusted interest rate.

When inflation was 2%, banks paid 0.1% interest, so you lost about 1.9%/year. These days, with inflation over 8% and interest rates around 3%, you lose 4.6%/year.

Still happy about inflation? ;)