The Undollar Digest

The Lessons of History

Victor Sperandeo, online.barrons.com, 12/18/2010
When governments cannot borrow, hyperinflation is frequently the result.

Economist Philip Cogen defines hyperinflation as a non-annualized inflation rate of 50% or more in a single month. This rare occurrence should not be confused with the inflation the U.S. went through in the 1970s, which was moderate, almost normal, by comparison.
Unlike normal [...]


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