jj, i’m not sure i follow you but to clarify my position, i really do believe that the eurozone especially will end in a hyperinflation, with germany leading the way
i know this is a contrary view to the conventional wisdom that “...scarred by weimar, the germans fear inflation more than anything...”
my view is simple, they have done it twice in the last 100 years and they are going to do it again.
I am not really disagreeing that they will print. While they may be smart enough to realize that it wouldn’t do any good, the pressure to “do something” will be enormous.
What I am saying is that the out-of-control price inflation seen in hyper-inflationary periods could not happen. The economy would simply collapse the moment that started. This is why we can’t print our way out of the sovereign debt problems, let alone all of the other (even bigger) problems.