Hyperinflation could result in “global societal collapse and civil or international strife”.

Elliott Management, the hedge fund founded by Wall Street billionaire Paul Singer, said in a letter to clients reported in the Financial Times, that the world economy faces an “extremely challenging” outlook and hyperinflation could result in “global societal collapse and civil or international strife”. It said central banks have been “dishonest” in deflecting blame for the price surge from their prolonged use of very cheap money.

And is it true? 

I suppose so. Could is doing a lot of work in that prediction.

Paul Samuelson, who won the Nobel Prize for Economics, said the stock market had forecast 9 out of the 5 last recessions.

Economists, as the late Queen observed, have forecast precisely none of them. 

But I can forecast an imminent world recession. The Bank of England says the recession in the UK will last two years but be shallow.