You’ve lost me.
In both Weimar Germany and in Zimbabwe, the checks kept coming, just in larger and larger wheelbarrow loads, until the collapsed currency was eventually replaced.
I am not saying I’m not terrified by that scenario. I’m just saying that there are 2 ways this could go.
One way is no checks = Mad Max, which we don’t see happen much in history. That did happen in Zimbabwe, where people quit taking cash for goods and dealt in gold, however tiny the weight.
The other way is, continuous massive printing by the government such as during Weimar.
I’m happy to stand corrected but I guess I would need some examples of Europe going Mad Max with the checks cut off sometime in the past 150 years so I have an example to look into. And while you could say it is different this time do to the number and composition of leaches getting checks, the key is if everybody is down to bare subsistence from the government checks, it does satisfy the leaches to some extent that they are getting the same wheelbarrow loads as others.
What am I missing? When did Europe go Mad Max? Or has it always in a deep depression and I’m just ignorant of that fact?
i’m in agreement that the likely course is inflation to perhaps hyperinflation.
now, wouldn’t the need to spend the ‘whole check’ on one loaf of bread be the same as no check.
lol, my shift key is broken and i can’t do caps.