Is not the single biggest question under our current economic circumstances that of "how long" until noticable or crushing inflation?I think in some ways we've been hamstrung by the good intentions of our fellow Austrian oriented economic commenters by the continual warnings of hyper-inflation and that people outside of Austrian thinking are becoming a bit skeptical in a "boy who cried wolf" type manner....I've always been interested(and saddened) in how Japan has been able to perpetuate their economic misery for so long without a complete fiscal breakdown. (not that it isn't coming...but again...the question is WHEN)Their example does not bode well for how long the US can keep the charade going...(despite the lack of savings in the US, which is offset by having the worlds reserve currency)
I agree wholeheartedly about the "boy who cried wolf" metaphor. Please give some guidance as to what to expect when. Ambiguous terms like "soon", "strong price inflation", "around the corner" just aren't cutting it. It seems Prof. Rothbard is providing some guidance. When the money supply increases, "price inflation" will follow. That does not argue for hyperinflation any time soon. Do you agree?
I can't give you an educated answer or even a reasonable guess. Ron Paul went out on a limb and suggested a major economic by the end of the Black Jesus's term...but even that wasn't really definitive. At least he's gone on record with a time frame regardless of the non-committal answer-I believe Schiff might have recently suggested the same.(someone can tell me here I'm sure)Really, I haven't the foggiest notion. Wenzel is making interesting predictions on the housing market that seem to be bearing fruit...but I just don't yet see where that methodology has been applicable to a time frame on monetary earthquakes. Wenzel has said "strong inflation" for 2013...but that's about it.