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To: DeaconBenjamin
Prices and incomes changed daily. A former student recalls: "One fine day, I dropped into a café to have a cup of coffee. As I went in I noted that the price was say 5,000 marks - just about what I had in my pocket. I sat down, read my paper, drank my coffee and spent altogether one hour on the café, and then asked for the bill. The waiter duly presented me with the bill for 8,000 marks. 'Why 8,000 marks?' I asked? The mark had dropped in the meantime I was told. The 'index' based on the dollar exchange rate had altered so much that the price had gone up by 60% while I was sitting at the table. So I gave the waiter all the money I had - and he was generous enough to leave it at that."

What's interesting about this story (besides the way it illustrates hyperinflation) is that I beleive that about 1/3 of the American public probably doesn't understand what this student was talking about.

100 posted on 07/23/2002 6:33:43 PM PDT by meyer
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To: meyer
Prices and incomes changed daily. A former student recalls: "One fine day, I dropped into a café to have a cup of coffee. As I went in I noted that the price was say 5,000 marks - just about what I had in my pocket. I sat down, read my paper, drank my coffee and spent altogether one hour on the café, and then asked for the bill. The waiter duly presented me with the bill for 8,000 marks. 'Why 8,000 marks?' I asked? The mark had dropped in the meantime I was told. The 'index' based on the dollar exchange rate had altered so much that the price had gone up by 60% while I was sitting at the table. So I gave the waiter all the money I had - and he was generous enough to leave it at that."

What's interesting about this story (besides the way it illustrates hyperinflation) is that I beleive that about 1/3 of the American public probably doesn't understand what this student was talking about.

Only 1/3rd? You, sir, are an optimist.

218 posted on 07/23/2002 7:58:43 PM PDT by Thane_Banquo
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