Will QAN survive?, page-451

It's a fantasy to think that you can print money to escape issues. Alcoholics and drug addicts have similar thought patterns.

Inflation doesn't appear immediately. You simply need to wait for the new money to work its way through capital markets before it materialises within consumer prices. When it materialises in consumer prices, it will be those without assets and wealth who will be obliterated.

There is a reason why no one complains about inflation when inflation appears in capital markets (take a look at property prices and stock markets) - the people who own the property and stocks are happy - their 'investments' seem to be rising despite the lack of any underlying earnings or sound business model (Qantas as a prime example).

But once the inflation drips out of capital markets and into consumer prices, that's when people really start noticing and complaining.