In a way we are already living in a world of MMT with QE and as a result I always wondered why there was not more inflation. I believe it is because the inflation is kind of hidden within bubbles but when these bubbles explode we will have the same results as if we would have with an increased inflation. I saw this in Turkey. A simple tweet from D. Trump about taxing steel was enough to produce a devaluation of the currency of 20% within a couple of days.

Instead of coming little by little the inflation manifests in bursts and is therefore much more dangerous and imprevisible.

Best regards,
Achim