I flew many trips to Brazil in the 1990’s....
The country was plagued by rampant inflation, two or three times what we are experiencing now.
I asked men, “how do you keep up with it?”
The answer was, “we don’t, even with monthly increases in pay we never catch up!”
We never took home any Brazilian money, the “Cruzero,” at the time because it would lose value in a week.
The exchange rate was $1.00 = 70,000 cruzero.
The government dropped the three zeros and the rate was $1.00 to 70. I a few months later the exchange rate was $1.00 to 2,100!
Inflation is a curse and those who cause it, ie, Joe Biden and cast, should be hanged!!!!!!!!!!!!!!!!
We had runaway inflation after Liz Truss, the conservatives’ conservative, thought it would be a brilliant idea to give massive tax cuts to the mega rich while confirming no spending cuts. But her biggest mistake was to block the Bank of England and the office for budget responsibility.
Runaway inflation is not a function of left or right, it’s what any government ends up with if it can’t or won’t demonstrate how it’s going to balance the books.