Hyperinflation!

1)  "Money supply as measured by M3 is still dramatically shrinking."

2)  "Money Velocity Is Too Low"

3) MV=PQ

4) ?????

5) Hyperinflation!

I kid.  Sort of.  Things seem to be bubbling and if QE continues, there will indeed be substantial inflation (Hyperinflation by the normal definition?  Doubt it; few countries have actually ever managed that).  But QE won't continue.  I sorely doubt there will be even one more round.  It's going to be painful to come off, but there's no such thing as a free lunch.  I'd tell you to bet on it, but you already are.