Hard to have inflation when nobody has any money.
That’s just what I was thinking.
Terminology is getting me confused. It appears that we are headed for a massively depreciating US dollar due to QE. May not be inflation in the normal sense, since as you state nobody has any money. Can verify that myself here in California. Cash is hard to find. Lots of downward price pressure due to that. All the QE cash apparently is going into US Treasuries to keep the bankrupt Fed and Banking system at least appearing solvent due to their toxic assets and unfunded liabilities. People that have a clue are putting what little cash they have into dollar depreciation protection devices such as commodities. As the value of the dollar depreciates, the value of the commodity rises in dollars. So in the long run the commodities will become the new money. Fiat dollars will be worthless. It really wont matter how many dollars it takes to buy something, since we will all end up bartering.