
MacroVoices #256 Russell Napier: Prepare for Secular Inflation
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When Does It Get Out of Control?
When does it get out of control? Well, what a great question. Actually the answer to that is probably more political than anything else. It got out of control in the second half of the 60s in America was trying to run a great society program simultaneously with the Vietnam War. So I would say it's to do with politics. At some stage, a politician will push this too far. On your issue of hyperinflation, could we ever get the hyperinflation? I don't think so. But of course, politicians make mistakes. There's lots of history of mistakes here in which the velocity begins to go up. That's not something you should be concerned about in terms
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