I can only assume there is something that for most people just feels absolutely, intuitively true about more money = inflation = bad.
Since 2008, the Fed has increased the money supply by a factor of 5, inflation has been rock-bottom or nonexistent, real interest rates on Treasuries are negative, but hyperinflation is even now just around the corner. No matter how often the prediction is wrong, new ones are made and the failure of the appearance of hyperinflation on schedule is ignored or handwaved away with vague declarations about how the government is conspiring to hide inflation, or the Fed is using some kind of temporary monetary/balance-sheet magic trick, or as soon as the economy starts up again we're all doomed.
What I have never understood is why computer-technical types so often participate in this kind of thinking when we're usually pretty good on other sciences. To be sure, economics is a field with more cranks than usual - paid cranks, even-, but there are working, well-tested mainstream models that churn out accurate prediction after prediction and are largely ignored in favor of whatever the WSJ or Ron Paul says.
Since 2008, the Fed has increased the money supply by a factor of 5, inflation has been rock-bottom or nonexistent, real interest rates on Treasuries are negative, but hyperinflation is even now just around the corner. No matter how often the prediction is wrong, new ones are made and the failure of the appearance of hyperinflation on schedule is ignored or handwaved away with vague declarations about how the government is conspiring to hide inflation, or the Fed is using some kind of temporary monetary/balance-sheet magic trick, or as soon as the economy starts up again we're all doomed.
What I have never understood is why computer-technical types so often participate in this kind of thinking when we're usually pretty good on other sciences. To be sure, economics is a field with more cranks than usual - paid cranks, even-, but there are working, well-tested mainstream models that churn out accurate prediction after prediction and are largely ignored in favor of whatever the WSJ or Ron Paul says.