It’s different this time.. and just remember Draghi’s perspective – hyperinflation hasn’t happened yet, so what’s the harm?
The global central bank balance sheet is even more concerning.
Draghi’s answer is simple: we have now thrown the kitchen sink at the deflation problem and there has been no inflation (he conveniently forgets to mention that the world is now caught in a vicious spiral in which every single central bank is printing money just to export deflation to its peers, with more and more printing necessary each year just to stay in one place). In other words, just because hyperinflation hasn’t materialized so far, it never will.
Or, as Bernanke would say: “Hyperinflation is contained.”
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