I must be older. I've been hearing it since the 1970s.
(Note well: I do not believe that the level of US government debt is benign. I don't think it is. But existence of this level of debt, even if it's growing, does not necessarily mean that hyperinflation is just around the corner. It makes it more possible, but it is very far from a certainty.)
I have a feeling it won't happen due to the way the assets are. A lot of this money is unrealized, and can't be realized in practical terms. What we end up with are massively wealthy individuals holding companies (fiat assets) rather than real assets like land. Part of what drives inflation is the demand. If most people have relatively low incomes because most of the money creation goes to a few, then there won't be increased competition for the masses. Basically the wealthy people are in a different market in many cases and the inflation of securities wouldn't be accounted for in the CPI.
(Note well: I do not believe that the level of US government debt is benign. I don't think it is. But existence of this level of debt, even if it's growing, does not necessarily mean that hyperinflation is just around the corner. It makes it more possible, but it is very far from a certainty.)