While I'm on the subject of the economy. . . . . . . . another thing I'm worried about is hyperinflation. You know, this is what's happening in Argentina and even more extremely in Zimbabwe. According to the Christian Science Monitor, inflation in Zimbabwe is at over 231 million percent and rising daily. Frightening isn't it?
Another example - Germany after World War One was crippled with by inflation. The reason? The newly formed German government kept pumping up the money supply. The process started relatively slowly, but it wasn't working so the pace accelerated until eventually all wealth in Germany was wiped out.
Could our government's panicked efforts to "stimulate" the economy and "save" financial institutions contribute to the same result? President-elect Obama's plans to spend more than an additional trillion dollars and probably even more in the next few years will soon cause inflation to grow. The simple truth is we cannot create money and borrow without limit.
I think many Americans instinctively know that what is going on is wrong. I'm more concerned about some of the ignorant politicians who simply don't get it. Or maybe they don't care.
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