Could the Weimar Hyperinflation Happen Again in America?

Mish's Global Economic Trend Analysis: One Hand Clapping Theory Analyzed
"Pretending that defaulted debts do not exist is itself the "Sound of one hand clapping". It did not work for Japan, and it will not work here."

and the UK CPI/RPI falling:
Ongoing deflation | Spectator.co.uk
"There is also a material risk that, next year, deflation will become so great that nominal wages will start to fall (i.e. people will start to experience falls in their wages in cash terms). This could be disastrous as it would probably result in widespread defaulting on mortgage loans and further problems for the financial sector. It is precisely to counter this risk that the Bank of England’s quantitative easing programme was undertaken and still continues. Let’s hope it works."
 
Stephen Roach: "The market is in for a rude awakening," said the chairman of Morgan Stanley Asia, whose grim outlook seems to remain constant wherever he's domiciled. "This will be an usually weak recovery," Roach said. "The damage done to the system [will be] lasting - we are not even close to healing. It's ‘game over' for the U.S. consumer. Deleveraging is just beginning."
 
- Soros said weakness in the dollar has become "a bit overextended" and observed the short-dollar trade is "extremely crowed.")
 
A 'Remarkable' Gathering: Soros and Roach and Geithner, Oh My: Tech Ticker, Yahoo! Finance!

"Dr. Jacob Frenkel: "The days of reckoning will come" for all the fiscal and money stimulus; specifically, higher long-term inflation, higher interest rates and lower growth, said the chairman of Group of Thirty and former Bank of Israel governor. "You must articulate today how the book will be closed" on all the extraordinary government support. (In fairness, Frenkel was optimistic relative to Soros and Roach, forecasting "next year will be significantly better" for global growth; his concerns focused on 2011 and beyond.)"

[My emphasis]
 
Stephen Roach: "The market is in for a rude awakening," said the chairman of Morgan Stanley Asia, whose grim outlook seems to remain constant wherever he's domiciled. "This will be an usually weak recovery," Roach said. "The damage done to the system [will be] lasting - we are not even close to healing. It's ‘game over' for the U.S. consumer. Deleveraging is just beginning."

my emphasis
 
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