Posted on 11/19/2021 8:07:24 AM PST by ChicagoConservative27
A few months ago, when prices began to spike throughout the U.S. economy, Americans were told not to worry, it was just a temporary blip.
On several occasions, President Biden and high-ranking officials in his administration claimed the current bout of inflation was “transitory” and would subside sooner rather than later.
Yet, as the months tick by, inflation is getting worse, not better.
(Excerpt) Read more at thehill.com ...
Hyperinflation = HyperTAXATION! It’s just another way to get your money.
https://mobile.twitter.com/disclosetv/status/1461691992174469121?s=10
18% producer inflation for Germany.
To get a sense of the new normal, read the Book of Revelation.
Hyperinflation? Highly unlikely. People misuse the term
Sustained, high rates of consumer and producer price inflation? Absolutely - its here.
And what would those distortions be? Is 6+% inflation "hyperinflation" to you? If so, take a peek at post-WWI Germany and modern-day Venezuela for better examples, you twit.
Yeah well that term is the new normal now.
Until Trump is in charge it will be.
There is no hyperinflation.
Hyperinflation is actually a self-limiting condition. The victim (the existing medium of exchange) dies.
The only effective response is to develop a new monetary system. The new replacement currency has to have some fixed value reference in the real world, like a gold standard. The standard does not have to be gold or any precious commodity, but it must be one accessible to all.
Very early on, the Weimar Republic went through a classic hyperinflation, used to pay their war reparations, which turned out to be impossible to keep. The Germans retreated from the more extreme aspects of their distributions, and became some pretty astute stewards of the integrity of their currency, which was based not on gold (their treasuries were depleted), but on the “rent value” of all the real estate within Germany.
Well, the good thing about hyperinflation is that it doesn’t last that long.
6 or 7 or 20% inflation is hardly hyperinflation. But yeah, of course we could end up with hyperinflation. It usually happens after wars, but given the gross misfeasance of those currently in power, it’s definitely possible.
Aw c’mon. Hyperbole is the new normal now. Can’t you see that gas rising $1.50 over the last year is exactly the same as pushing wheelbarrows full of money in the Weimar Republic? Exactly the same! It has to be! So that I can post lurid lying headlines and get the rubes to click on my site.
Remember Jimmy Carter and his fireside chat in his sweater telling us the same thing. Drive slower and pay more for gas and freeze in the winter.
Don’t worry, we won’t run out of money, they will keep printing more...
Oboy. The press asks itself another rhetorical question.
One word: Venezuela
A social catastrophe of biblical proportions is on the horizon. Famine will stalk the land. Stores will be stripped clean. The supply train will halt. Energy will be cut off. Anarchy will reign.
Have a nice day.
I hate that term new normal.
I clicked on this thread to make the very same comment.
Thanks for that explanation of the Weimar solution. I was aware that the underlying inflation was a gambit to pay off their indemnities from The Great War. And I’ve heard some irresponsible politicians & ‘economists’ here in the US say that this could be done here to deal with the national debt — i.e. just ‘inflate-it-away’. As if that wouldn’t entail great suffering.
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