{"id":61251,"date":"2022-01-03T07:24:52","date_gmt":"2022-01-03T12:24:52","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61251"},"modified":"2022-01-03T07:24:52","modified_gmt":"2022-01-03T12:24:52","slug":"how-inflation-could-crash-the-economy-in-2022","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61251","title":{"rendered":"How Inflation Could Crash The Economy In 2022"},"content":{"rendered":"
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How Inflation Could Crash The Economy In 2022<\/a><\/h3>\n<\/div>\n
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\"How<\/p>\n
Photo by\u00a0Alyssa Kibiloski<\/a><\/span><\/div>\n<\/div>\n

It\u2019s understandable if you\u2019re tired of hearing about rising inflation. But it has become an economic mainstay in the Biden Administration. And each month seems to bring fresh records not experienced in decades.<\/p>\n

For Baby Boomers who lived through the Carter years, 2021 might feel like d\u00e9j\u00e0 vu. That\u2019s because\u00a0inflation rose 6.8%<\/strong>\u00a0again<\/em>\u00a0in\u00a0November 2021<\/a>, which is the highest level since June of 1982.<\/p>\n

That\u2019s bad enough. And that\u2019s not the worst of it\u2026<\/p>\n

When we look higher up the product pipeline, inflation at the manufacturing level\u00a0is even higher<\/em>. U.S. producers are\u00a0dealing with inflation of their own<\/a>, clocking in at\u00a0an incredible 9.6%<\/strong>\u00a0in November. That means prices on\u00a0all manufactured goods<\/em>, from coffee mugs to SUVs, are still going up. And we haven\u2019t even experienced the sticker shock yet. Producer prices are a forecast of rising prices just down the road.<\/p>\n

Things have gotten so bad that\u00a0Bloomberg recently published<\/a>\u00a0an\u00a0\u201cinflation survival guide\u201d<\/strong>\u00a0after interviewing a number of Argentines (who routinely struggled with 50% inflation). Those who survived Argentinian hyperinflation\u00a0know<\/em>\u00a0paper money is worthless.<\/p>\n

Here\u2019s their advice, lightly edited for clarity:<\/p>\n