Argentina Sleepwalks into Hyperinflation (Yet Again)
A century ago, Argentina was one of the world's wealthiest nations and the Argentine peso rivaled the dollar. Today, Argentina is famous for periodic hyperinflation.
A century ago, Argentina was one of the world's wealthiest nations and the Argentine peso rivaled the dollar. Today, Argentina is famous for periodic hyperinflation.
After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat.
Austrian business cycle theory points out that easy money leads to malinvestments. Once easy money disappears, the crash begins. Time to clean up malinvested assets.
Canada created its central bank during the Great Depression, ostensibly to stabilize the currency and protect the banking system. Today, that system is falling apart, thanks to inflationary central bank policies.
A generation ago, the Berlin Wall fell and the USSR collapsed. Today, US monetary authorities are bringing down our own country.
Even after two years of "transitory" inflation, America's ruling classes insist that prices are falling and that all of this is temporary. We don't believe them.
After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat.
Mark takes a look at the good news on price inflation and why it is better than reported, but probably short-lived.
Robert Mugabe, once president for life of Zimbabwe, became infamous for hyperinflation and political repression. Today, he is becoming the patron saint of central banking.