Is Hyperinflation Just Around the Corner?
I have written many times about the “hidden'” U.S. government debt, which is much more perilous than the “visible” government debt. Like an iceberg, most of which is unseen beneath the water line, this hidden debt, is much larger than the visible debt, the $17 trillion that is the subject of public discussion and legislative debate.
But the hidden debt, consisting of the government’s unfunded liabilities, is more than ten times larger than the visible debt.
It is about $205 trillion.
I have often cited Boston University Professor Laurence Kotlikoff on subject of the hidden debt, an issue he has confronted with clarity for years. Now, not to be missed is an article by Kotlikoff on the Fed, Quantitative Easing, the the prospects for hyperinflation:
“The fact that the Fed and Treasury dance this financial pas de deux shows how much they want to keep the public in the dark about what they are doing. And what they are doing, these days, is printing, out of thin air, 29 cents of every $1 being spent by the federal government.”