We are suffering from runaway inflation.
The soaring price of gold points to fears of runaway inflation.
The runaway inflation would seem to put the brakes on such a trend.
The paper deals with the nation's problems, ranging from runaway inflation to a lowering of literacy levels.
Germany which had been traumatized by two episodes of runaway inflation was adamantly opposed to any bailout.
Investors fear the surge in raw material prices is denting demand and forcing emerging countries' central Banks to raise interest rates to try to prevent runaway inflation.
And cynics might wonder whether governments will really meet their obligations when faced with runaway inflation, rather than finding a way to "redefine" the statistics.
Is it speculation run amok? Is it the result of excessive money creation, a harbinger of runaway inflation just around the corner? No and no.
There's no doubt that many of the members of the FOMC, and especially the dissenters, worry that overaggressive policy could produce runaway inflation.
To be sure, Chinese government authorities have sought to slow the rise in housing prices amid fears that runaway inflation may force them to clamp down even harder on the economy.
That recession was, in effect, a deliberate creation of the Federal Reserve, which raised interest rates to as much as 17 percent in an effort to control runaway inflation.
