Could you please define the following terms:
Inflation Healthy growth in the US economy
Hyperinflation Extreme inflation caused by QE and the fed buying corporate debt
Transitory A dream
Just so we can be certain the languages we are speaking are mutually intelligible.
to be clear some of the inflation will come down as supply increases to match demand, most of it is here to stay.
I guess that seals it. Your definitions are quite unique to yourself, not really broadly recognized by economists or any dictionary or encyclopedic definition.
FTR, more widely accepted definitions (not necessarily scientific) are:
Inflation - Collective increases in the supply of money, in money incomes, or in prices. Inflation is generally thought of as
an inordinate rise in the general level of prices. (
Britannica.com, also see
Investopedia, and
economicshelp.org which succinctly defines it as "a sustained increase in the general price level in an economy")
Hyperinflation - Rapid, excessive, and
out-of-control general price increases in an economy. While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation,
typically measuring more than 50% per month. (
Investopedia)
Transitory - The opposite of
sustained (as in changes due to temporary situations that are likely to self-correct and mean-adjust, vs permanent changes - examples of which would be the job destruction of jobs related to horse and buggy industry, and many other industries that have and are being replaced by technological advances, never to come back - hence sustained deflationary pressures).