It's a... Depression

[MRBRETTONWOODS]

Quote from wutangfinancial:

I agree that we're in deflationary depression. I am unconvinced by any of the hyperinflation arguments. We're still well above NAIRU so even the seemingly huge monetary and fiscal stimulus doesn't seem to pose a threat yet. It could in the future if NAIRU shifts higher for permanent structural reasons and we keep mashing on the money pump.

There is a difference between bubble inflation and hyperinflation. The loss of faith in a currency and the utter devaluation that follows it is a lot different from a simple equation regarding the money supply and credit.

It is possible to have deflation and MODERATE currency devaluation at the same time though, so prices of hard assets may possibly stay the same or even increase.