9/1/2023 0 Comments 1000 pengo 1940![]() ![]() The United States has never been a victim of hyperinflation but came close twice - during the Revolutionary War and Civil War - when the government printed currency in order to pay for its war efforts. The report outlines that during the 20th century, seventeen hyperinflations occurred in Eastern Europe and Central Asia, including 5 in Latin America, 4 in Western Europe, 1 in Southeast Asia and one in Africa. The world's first recorded hyperinflation came during the French Revolution, where monthly inflation peaked at 143 percent, but it took until the 20th century for this type of out-of-control inflation to happen again. As it turns out, hyperinflation generally coincides with wars and a series of ill-advised and inflammatory fiscal policy decisions, but at the core is a result of a rapid increase in the money supply that is not supported by growth in the economy. His findings and calculations are presented in this slideshow. Hanke, professor at Johns Hopkins University and Senior Fellow at the CATO institute, studied hyperinflation in Zimbabwe to see how it compared to historical cases of out-of-control inflation. ![]() ![]() Today, inflation has become a major topic of debate in the United States, and although many are concerned about the effects of a devalued dollar on the economy, history shows us examples of how inflation has been much, much worse. Although extreme, this becomes the reality of hyperinflation, where prices change so rapidly that everyday items rise exponentially and money becomes worthless, virtually overnight or even in the course of a working day. Imagine that during the time it took to drink a cup of coffee, the price of that cup of coffee doubled. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |