Hyperinflation fears grow as global borrowing skyrockets

The Australian's Adam Creighton says "the scary reality" is world governments are "trying to borrow huge amounts at the same time" raising concerns around hyper-inflation as global debt skyrockets. "Central banks are going to create money out of thin air and buy government bonds," Mr Creighton said. "The Reserve Bank of Australia will essentially be financing government deficits with new money. "Conventional economics says if you do that for long enough you're going to get extraordinary inflation and people will lose all respect for money - history shows that can end very badly." Image: Getty

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