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Hyperinflation is Becoming Common in The 21st Century
Hyperinflation is Becoming Common in The 21st Century How destructive is hyperinflation? To quote economist Thomas Sowell, “Hyperinflation can take virtually your entire life’s savings, without the government having to bother raising the official tax rate at all.” A number of countries are currently experiencing the destructive effects of hyperinflation. With the Venezuelan Bolivar at […]
Bill Dudley Slams MMT: “It Failed In Germany, Venezuela And Zimbabwe”
Bill Dudley Slams MMT: “It Failed In Germany, Venezuela And Zimbabwe” While there has been much disagreement among the financial elite about the ultimate consequences of central bank activism and market manipulation, with some – usually those who do not manage money for a living and are not paid by investors – predicting fire and […]
Don’t Be So Sure Hyperinflation Can’t Hit the U.S.
Don’t Be So Sure Hyperinflation Can’t Hit the U.S. Some progressives back piling on even more debt to pay for social programs. That could be risky. Marking time. Photographer: Ramin Talaie/Getty Images North America Discussions of big government spending programs often revolve around the question of how to pay for them. For example, Representative Alexandria […]
Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World
Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World Zimbabwe is once again at the brink of economic collapse, making a mockery of President Emmerson Mnangagwa’s claim that the country is open for business. As Bloomberg reports, many shops and factories have shut their doors because of a lack of customers […]
German Hyperinflation & the Dawes Plan
German Hyperinflation & the Dawes Plan The German Hyperinflation was by NO MEANS about inflation created by an increase in the money supply under the Quantity Theory of Money (QTM). Today, Angela Merkel has forcefully imposed Austerity upon the whole of Europe because she really does not understand what even caused the hyperinflation. It was […]
Elite Terrified of 1930’s Depression or Weimar Hyperinflation – John Rubino
Elite Terrified of 1930’s Depression or Weimar Hyperinflation – John Rubino Financial writer John Rubino says everywhere you look, debt is exponentially mounting. Nothing demonstrates the “imminent bankruptcy” problem better than the financial obligations of New York City. Rubino says, “They just announced that they have unfunded liabilities for retiree healthcare, just retiree healthcare and […]
Zimbabwe spirals into economic chaos as fears of another round of hyperinflation begin to spark
Zimbabwe spirals into economic chaos as fears of another round of hyperinflation begin to spark Zimbabwe has a history of economic chaos and misery. In 2008, Zimbabwe had the second-highest incidence of hyperinflation in recorded history. The estimated inflation rate from November 2008 was 79,600,000,000%. Currently, citizens of Zimbabwe are stocking up on essentials such […]
Clinging to Old Theories of Inflation
Clinging to Old Theories of Inflation QUESTION: Mr. Armstrong, I think I am starting to understand your view of inflation. It is very complex. I think some people cannot think beyond a simple one dimension concept as you often say. So I am trying to be more dynamic in my thinking process. Here you point […]
Apocalypse, Or Not?
Apocalypse, Or Not? Members of the American libertarian movement, particularly extremist preppers, are often associated with a belief that a complete breakdown in society is the only outcome from government economic policies and will lead to complete social disintegration. At the centre of their concerns is monetary destruction, with other issues, such as the erosion […]
Paper money eventually returns to its intrinsic value – zero
Paper money eventually returns to its intrinsic value – zero In socialist Venezuela, the price of a cup of coffee has doubled every few weeks. The annual inflation rate could hit 1,000,000 percent by years end. People can no longer afford food, but that’s okay because there isn’t any food to be found. South America’s […]
Argentine President Admits “More Poverty” To Come, Announces Price Controls, Higher Taxes, Smaller Govt
Argentine President Admits “More Poverty” To Come, Announces Price Controls, Higher Taxes, Smaller Govt Having been told by The IMF that he must stop using their bailout funds to prop up his currency (which has been utterly futile), Argentine President Mauricio Macri addressed the troubled nation this morning to announce his plans to satisfy Christine […]
Friedman On Inflation, Hanke on Hyperinflation
Friedman On Inflation, Hanke on Hyperinflation In 1966, Milton Friedman wrote, as he often did, some memorable lines that have entered the lexicon of economic quotables. As Friedman correctly put it in a book chapter titled “What Price Guideposts?”: “Inflation is always and everywhere a monetary phenomenon, resulting from and accompanied by a rise in […]
“What A Disaster”: Chaos Returns To Venezuela One Day After Massive Devaluation
“What A Disaster”: Chaos Returns To Venezuela One Day After Massive Devaluation Just one day after Venezuela’s historic currency devaluation, which lopped off 5 zeros from the currency and prices while bizarrely pegging the “sovereign Bolivar” – the country’s latest currency incarnation – to the petro, an oil-backed cryptocurrency (which has been banned by the […]
Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency
Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency Chaos and confusion erupted across Venezuela, and most stores were shuttered on Saturday, after president Nicolas Maduro announced that the government would enact a massive currency devaluation, implement a new minimum wage, hike taxes, and also raise gasoline prices for […]
Hyperinflation Has Destroyed Venezuela
Hyperinflation Has Destroyed Venezuela Has coffee become an unattainable luxury? It is if you live in Venezuela’s capital of Caracas. In July, the price of a cup of coffee was 2 million bolivars. In a country where the minimum wage has been raised to 3 million bolivars, coffee has become as unaffordable as food, housing, […]
