It was Chuck Prince, former CEO of Citigroup, who famously said on July 9, 2007: “When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still standing.”

PARAGUAY/

Little did he know the music did nearly stop for Citi with its shares tumbling to less than $2 in 2009 from $55 in 2007.

A year later, worldwide reflation from huge liquidity injection and stimulus packages helped the global economy from collapsing.  The music may have started. The question is, should investors return to the dance floor?

Anthony Boeckh, president of U.S.-based Boeckh Investments, argues in his new book “The Great Reflation”,  that they should, but only cautiously.

“Many people ask whether the Great Reflation will work… In one sense it already has; the crisis of 2008-2009 could have caused a depression but it didn’t,” Boeckh writes.