“I’ve explained now at some length (here,here, and here) why the US is more likely to suffer through years of deflation and slow growth than hyperinflation.
The basic reason: hyperinflation requires a choice by monetary policy makers to debase the currency. Our monetary policy is controlled by an undemocratic institution that appears to mainly respond to the policy needs of bankers rather than the general public. Hyperinflation is not in the interest of bankers, so we probably won’t get it.”
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