Quote:
Originally Posted by TheDoc
Does that mean the inflation rate, itself, would be like 26%? Then for it to be hyper inflation that compounds for 3 years?
I guess I'm glad Americans still produce wealth, goods, etc. and looking at it, we would need to damn near stop producing anything to reach the numbers of true hyper inflation.
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Or worse... But you have to look at inflation in totality. Try
http://www.bls.gov/cpi/tables.htm
Simply selecting areas of prices that are higher and then citing hyperinflation is an abuse of the term, which is what Minte was doing.
We had high inflation in the 1970's (upwards of 13%), but it was not considered hyperinflation. Compare that to 2008 +3.8%, 2009 -0.4%, 2010 +1.6%.
Then compare those to
These Hyperinflations where prices were doubling from every 15 hours to every 6 days.
If you witness people scrambling to get their hands on their money as fast as they can so that they can immediately spend it because it will be worth much less the following day, that's
hyperinflation.
.