Re: Could the Weimar Hyperinflation Happen Again in America?
I believe that hyperinflation is a near certainty in the UK and USA. Massive trade and budget deficits and falling tax revenues make it very difficult to pay debts back with anything but devalued currency. Both countries have been purchasing their own govt bonds to keep interest rates artificially low and create a market for the debt. In other words electronically printing money. This is Zimbabwe style economics. The debt to gdp figures that are used disguise the fact that the economic activity is being created not by useful productivity, but by borrowing and printing more money used to bail out bankrupt institutions and companies. Deflation will be a short term symptom of this crisis, followed by currency collapse and runaway inflation.
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I think myself that we have more machinery of government than is necessary, too many parasites living on the labor of the industrious.
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