I AM AFRAID FOR OUR NATION. THOSE WHO DONT KNOW THE PAST ARE DOOMED TO REPEAT IT.
Congress passed Bill # 3, $6.2 trillion on top of the hundreds on billions of tax dollars in Bills 1 and 2 and a $23 trillion debt…now they are working on Bill #4…what kind of nation will America be after all this money is flowing?
When money was worthless: Woman dons a dress made of cash and children play with stacks of banknotes when German inflation spiralled out of control after WWI
Pray we wake up before it’s too late.
Hyperinflation in the Weimar Republic https://en.m.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic
How 9 Countries Saw Inflation Evolve Into Hyperinflation
Hyperinflationary episodes have appeared several times over the past century – 55, to be exact – as the world’s nations have experimented with fiat currencies backed by the full faith and credit of the governments that issue them.
At times, that full faith and credit has been misplaced – and holders of unstable currencies have been caught empty-handed in countries all over the world.
Often, this is can be a recurring theme among developing nations like those in Latin America during the debt crisis that struck the region in the 1980s.
Even some of the largest economies in the world today, though – like China, Germany, and France – have suffered devastating hyperinflationary episodes.
A major historical precursor of hyperinflation is war that destroys the capital stock of an economy and dramatically reduces output – but the misplaced monetary and fiscal policies that ensue are almost always part of the story. https://www.businessinsider.com/worst-hyperinflation-episodes-in-history-2013-9
For the medical condition, see Inhalation § Hyperinflation.
Hyperinflation in Venezuela represented by the time it would take for money to lose 90% of its value (301-day rolling average, inverted logarithmic scale).
In economics, hyperinflation is very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies, often the US Dollar. Prices typically remain stable in terms of other relatively stable currencies. https://en.m.wikipedia.org/wiki/Hyperinflation