Extremely high price increases are not produced by central bankers but are the result of a total failure of the political systemThe Financial Times Magazine | Undercover Economist
Believe the hype in hyperinflation
Tim Harford
(Here's a link to Tim Harford's blog if you have trouble getting past the FT paywall.)
And this is based on study by Libertarian think tank, the Cato Institute.
"Extremely high price increases are not produced by central bankers but are the result of a total failure of the political system"
ReplyDeleteHe still has to explain how extremely high prices will result when folks don't have the funds to buy them at the current price.
Businesses are just going to sit on their production…? For how long…?
…and wait for what? More-better-valuable funds to magically appear in the pockets of consumers?
Will the handful of wealthy folks try to consume their own production? As the value of their dollar wealth drops like a rock?
This would be a spectacular fail of epic proportions caused by one shooting it's self in it's own foot…
A country with massive production capability and ample resources unable to put the two together because of little piecs of paper (lack of) representing credits for claims on production, which cost nothing to produce.
Comical.
These morons deserve what happens to them. The rest of us don't.