Oh, a storm is threatening
My very life today
If I don't get some shelter
Oh yeah, I'm gonna fade away
--The Rolling Stones
Great point made by Fleck last nite. Monetary policymakers currently base their actions on the belief that inflation is hard to create and easy to stop.
This is a false belief, as Fleck observes. Properly defined, inflation is easy to create and hard to stop. Witness the gargantuan growth in global money supply under the tenure of central bankers.
When inflation spills over into the prices of goods and services in a big way, the toothpaste is out of the tube. Witness Weimar, Zimbabwe, et al.
People continue to ignore the insane nature of policies currently being put forth by central bankers. These bankers seem determined to ignite a cataclysm that cannot be stopped.