Originally Posted by DCL
for the US, 20% is hyperinflation, dude. you don't need to always use textbook definition. hyperinflation should just be defined as unhealthy inflation that's way too fast and hot to handle. 20% inflation in the united states is enough to do that.
and you shouldn't bet your house that you'd never see 20% inflation in the US in your lifetime. we've reached high levels of double digit inflation only several decades ago without the "reckless" money printing in place.
but you are only focusing on the scale of operations, hence, your texas and jupiter comment. but printing more money than what the economy can handle is reckless money printing. with QE-infinity in the hands of the fed, they're playing a dangerous game. no, it won't reach levels of germany or zimbabwe, you don't need to get hyped out over those comparisons, but when you keep on printing money like there's no tomorrow, inflation of unmanageable levels is inevitable.
And the high inflation was broken by the actions of the Central Bank following the same countercyclical Keynesian prescriptions the Central Bank is doing now. Berwick the zimbabwe-lover hates Central Banks.
Why do you think the amount of money in circulation is more than the economy can handle? It seems to me that past several years have been an experiment, an experiment that has shown quite convincingly, the economy right now can handle that amount of money without inflation.