Leading Chinese daily Global Times has added its voice to the increasing number of warnings that hyperinflation is now threatening the dollar-based international financial system. Global Times names the “unlimited easing policy” policy as the cause of the threat.
“The world needs to be alert to the potential consequences of an unprecedented wave of inflation surge,” warns an unsigned opinion column in that semi-official Chinese daily posted last night. “While it is uncertain whether the Biden administration’s helicopter money policies will spur a new round of economic growth, it is already clear that the spending spree will first mire the U.S. economy in a bottomless pit of inflation…
The paper accurately identifies “the massive liquidity the Fed poured into global markets under an unlimited easing policy” as the “main cause” of the inflation, although it gives credence to the fraud that the intention of “the easing policy” was ever to boost the depressed real economy, rather than the desperate need to bail out the bankrupt financial system.
