It doesn’t have to be Wiemar — it only has to be the 1970s again and tens of millions will suffer.
Oh yeah. 15% is a bitch. And we don't have the backstop of a recently strong economy. Everything is so much more fragile than it was when the 70s inflation hit.
Which brings us back to the *fact* that the Fed can not fight inflation with higher interest rates because it will crash the federal budget. Rock, meet hard place.