This book addresses the topical issue of whether the current environment in the US and other major countries, where quantitative easing is used to boost the economy, is conducive to the emergence of hyperinflation. This is a controversial and highly debated issue. Using both economics and history, the author challenges the view that quantitative easing will not lead to hyperinflation and argues that hyperinflation, or at least high inflation, is likely to appear eventually. The book examines all the propositions put forward for and against the eventuality of hyperinflation in the US, using illustrations based on actual and simulated data. The analysis leads to the conclusion that the current fiscal position of the US government, particularly the levels of external debt and unfunded liabilities, will not be rectified without resorting to inflationary financing. The book would be useful not only for policy makers and economists but also for non-specialist observers. Key Features: • The book provides the most comprehensive treatment of the "fire or ice" debate concerning whether quantitative easing will lead to hyperinflation or depression. It dispels the proposition that quantitative easing is benign • The analysis combines theory, empirical evidence and the historical experience of hypeinflationary countries, showing that the US economy is on the path to hyperinflation. The analysis is based on actual and simulated data • The book is written for general readership and more specialised readers. Non-specialists can skip the technical parts of the book without any loss of continuity

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