They call it a "contraction" and it has to happen some time. It's the inflation bubble popping. And yes, it fucks a lot of people, just like any bubble. If we're lucky, the US will simply repudiate it's debt and kick out the bankers. Of course, the last country to do that took it a little too far....
If we're not so lucky, we'll all end up fucked, a la the great depression. Bitcoin might be the only thing that saves the economy, at that point.
Glad that there are some people on here who can see the wood from the trees and who has a lengthy enough attention span to recognise that there is a bit more to this game than simply Money Printing = Big/Hyper Inflation.
As I discussed in another thread, if all the money that has been printed since 2008, were to have resulted in the inflation that all the inflation nuts said it would, then commodity prices would have increased by 10 times, cos that is how much more M0 (USD) there is in the world than there was 5 years ago. (and actually, that information is at least a couple of years old). Reason that this hasn't happened is that the printed money , has mainly went towards propping up the balance sheets of the various Too Big Too Fails, thus allowing the multi billionaire class to claw back as much value from their otherwise toxic investments and derivative assets as is possible.
The printed M0, is simply attempting to replace the destroyed M4. If someone doesn't even understand what those terms are referring to then they really shouldnt be on forums pumping your gums about hyperinflation.
For the record, I do believe that in the long run, hyper inflation is where we are headed. But we are not there yet and next stop on the track to global financial meltdown, is Deflationary Falls.