"The Fed has no intention of moderating its money expansion. In fact, financial ministers from the Group of Seven nation just met and spent most of their time trying to convince the Germans to behave as recklessly as the Japanese. Liberal economists argue that nations like Germany and the UK should reject”austerity” and print money too. But higher inflation in the future is the only result of current Fed reflation policy, with no growth in terms of real jobs and real wages."