There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
It is only much later when assets can no longer be effectively seized that government will turn on the printing press. Those in the know will have placed their funds in hard to seize assets prior to this time. The hum of the printing press will signal the start of hyperinflation.
There has never been and never will be hyperinflation on a global scale. Hyperinflation requires the ability to run from a low-tier currency regime to a more stable currency regime.
That is why global deflation via bezerk G20 coordinated government asset seizure is so dangerous. This leads to a Dark Age and it is very difficult to get out of.
Make sure you understand this point. It is a critical point at this juncture.
http://armstrongeconomics.com/2014/04/28/is-a-crash-inevitable-the-spiral-vortex-of-debt-and-corruption/I can see two scenarios that can lead to hyperinflation.
1) As mentioned a more stable currency regime arises that supplants the fiat system. Cryptocurrency has enormous potential here and offers great advantages over a return to a hard money system like gold. In this case best case scenario we might see fiat hyperinflation as cryptocurrency came to dominate the economy.
or
2) We suffer from complete systemic collapse, governments cannot issue bonds and society deteriorates to the point where it also can no longer effectively sieve assets and thus has to start printing to spend money. If things get to this point we pretty much already in a dark age.
Either way I agree in the short and medium term everything points towards deflation.