Is that assuming that you have current wages and that those wages will keep up with the inflation rate? Doesn't that also assume that all employee pension plans, individual IRA's and 401K plans (denominated in dollars, not precious metals) become worthless leaving all holders destitute? I keep hearing this arguement that hyperinflation isn't all bad because of the debt wipe out, but I find no solace in the fact that ones current wages may not keep up with a hyperinflationary rate and all individual pensions, savings, and retirement savings become worthless (if denominated in dollars).
Well, let me put it this way. There is no easy road ahead of us from here. There have been major structural problems in our economy for years. Politicians in both parties chose to ignore it until it became to late to prevent.
The time to start staving this off and changing how we do business was 2005, 1995 and even 1985. 2010 is now too late. All we have awaiting us are unattractive options. You have just described an unattractive option. But in that unattractive option people would still be able to own their property. They could grow food on their property. They could subsist.
Believe me, in hyperinflation I stand to lose millions that I earned through a quarter century of working far more than the average 40 hours a week. But I have already begun to increase my own personal investments in land and am looking at ways to safeguard my total value.
That’s what you have to understand. Short of us finding some new economic process that will allow us to continue our dominance of the world’s economy for this century we are in our decline. There are ways to survive as a nation doing that. If 25% of our nations homeowners get the boot because of deflation these are people who will never again say the pledge, wave the flag or even give the slighest damn about what happens to this country.