After all, housing prices and the stock markets in general keep going up as more money keeps being “printed” (most money is digital nowadays).
This inflation will one day hit the real economy, and hurt us all!
Maybe, we should make a law that whoever predict hyperinflation should tell us, at least, an approximate date for it. I have been hearing predictions of hyperinflation since I was a kid.
It should be also to be forbidden to change the definition of inflation, that is already very well defined. A stock market or real state bubble is not hyperinflation.
It should be obvious by now, after the example of Japan, the quantitative easing programs after 2008 and, now, the Covid countermeasures that the issue of inflation is a little more complicate that the gold worshipers would like us to believe.
Second, Reagan didn't start the Iran-Iraq war - Iraq did.
Third, the Iran-Iraq war drove the price of oil up, not down.
Nope
If tomorrow the price of energy double you will get excessive inflation too because energy is related to everything. The way to control excessive inflation would be spending less in the economy. The way to reduce aggregate demand would be more taxes, higher interest rates, etc..
That doesn't mean that the cause would be the current spending level, only that the current spending level would not be appropriate anymore for the new circumstances.
The same reasoning works in the other direction. If there is not enough inflation, it means that the economy has underutilized capacity (currently the euro-area for instance).
In that case, more fiscal deficit are necessary, otherwise you are creating unemployment and losing oportunities. That's impossible to do if you are constrained by how many Euros (or gold) you have. The quantity of gold is not related in any systemic way to the real economy. If you insist in managing your economy with an arbitrary constrain like gold (or Euros) you lost the capacity to give the proper fiscal response to the situation at hand.