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The End Game Approaches.

Inflation and deflation proponents have intelligent, reasoned arguments. How is it possible that intelligent people can forecast such opposite outcomes? Current data support the deflationist position. The original definitions of inflation and deflation were in terms of inflating or deflating the money supply. Milton Friedman stated, "inflation is always and everywhere a monetary phenomenon." Those who expect inflation, therefore, also expect a rising money supply.

Governments have spent vast sums of taxpayer funds trying to jump start growth until the economy is back on track. Servicing existing debt is impossible because income levels are not high enough to do so. The economy cannot grow large enough or fast enough to offset this problem. Debt will be liquidated by default/forgiveness. Additional debt is of little value. The point of negative marginal utility of debt has been reached. The private sector continues to shed debt. The public sector attempts to offset this with greater deficit spending. The private sector is contracting faster than the government can expand.

There is no plan that can possibly work. Political cowards around the world have chosen to "print money" in order to continue to fund current programs and service current debt levels with more debt! At some point, the money supply will explode, as we approach what Ludwig von Mises described as "the crack up boom":
"There is no means of avoiding the final collapse of a boom brought about by credit [debt] expansion. The alternative is only whether the crises should come sooner as the result of a voluntary abandonment of further credit [debt] expansion, or later as a final and total catastrophe of the currency system involved."

Be prepared for the next depression which will start out as deflationary in nature, causing the authorities to bolster finances via quantitative measures, that will metamorphose into hyperinflation, which is a currency crises event. This will destroy economies, overthrow some governments, and alter the nature of the world. 

Disclosure: "No Position".