"Governments and central banks can easily control inflation, says Merryn Somerset Webb – they just need the will."

Thanks for posting. Yes they certainly could turn the money printers off and raise interest rates which traditionally has tempered inflation. I think we're in a very different world now though. These actions would incredibly destructive to the average person, with mortgage rates rising, unemployment rising as business die once the credit tap is turned off and steep increases in the payments to maintain personal debt. This is without even factoring in nation state debt repayments which would escalate possibly to the point some states find themselves bankrupt. All this on a background of a rise of populism, rapid dissemination of information and new form of coordination beyond the control of government. As Oliver Hardy said "Well , here's another fine mess you've gotten us into".