M1 Money is basically the cash economy- currency that actually circulates, or should I say, would circulate if the stupid virus restrictions were ever lifted. That graph pretty much applies throughout the western world. All the economies are just floating on enormous piles of stimulus money. If the governments decide to open things up, then money velocity will pick up and prices will go through the roof.
Here’s what Dr. Doom on the tube thinks about it:
Hyperinflation? May well be. Large inflation at the very least. Infinity stimulus everywhere and reduced economic output (scarcity in some circumstances) equals high prices. You can’t just completely destroy the purchasing power of a currency and expect no consequences.
It’s 2 minutes to midnight, then it’s time to pay the piper.