Well, define hyperinflation first. Does it have to be like Zimbabwe to be called hyperinflation? Is it worse that the double digit inflation of the 70s and early 80s?
IIRC the inflation then was pretty devestating to most Americans, especially those stuck in dead end jobs or retirement etc. where revenue could not increase fast enough to keep up.
In Jan. 2009, a 16 oz jar of store brand peanut butter cost #1.00 - it now costs $2.25 thats 125% in about 4 years. That’s more than 30% per year. I don’t call care what you call it, crisis level, hyper, almost hyper - In the real world, that is a serious level of inflation for “poor man’s protein”.
Me, I am not worried for example,that my house has declined in value, cause it is not underwater, and my property taxes went down which is helpful to my budget.
I am extremely worried that the continued QE/twist/devaluation of the dollar is soon going to mean that I won’t be able to eat and buy gas and to get to jobs, and medicine, and still pay my bills.
And I don’t appreciated Government stats that ignore those things in order to claim that inflation is low.
It seems to me that “big” inflation is here and growing and not about to stop anytime soon. Am I wrong?
I’d like to have gotten that guy’s take on econmics except I lost interest after 32 paragraphs of butthurt about “Peter Schiff is famous and I’m a schmuck”