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Pittsburg, Kansas | I would agree with that.
In the hyperinflation in Germany or Zimbabwe took wheelbarrow of money to buy anything. Stock market soared. Then you could take all your winnings and buy a cup of coffee.
In the inside prices were soaring and purchasing power of money dropping.
But viewed from the outside in, it was deflationary when measured in any currency holding its value. Foreigners could visit while eating and staying super cheap while locals saw prices changing daily or even hourly and unaffordable.
I'm not saying we are going to see hyperinflation in any country in my lifetime. But if history is any guide that is a common destination for fiat currencies based on debt issuance. It is possible I believe to avoid it. Paul Volker did. But it takes political willpower and big balls to make it a reality.
Are countries getting near tipping points??? We live in interesting times. | |
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The game looks to be changing, Japan raises interest rates again