I've been doing a lot of research in the past four months on the economy, and have tried to avoid jumping to conclusions, but I think the arithmetic is hyperinflation.
I think hyperinflation will happen <10yrs:
1. The US Gov. will never reform its massive entitlement programs.
2. It will print more money to pay for its expenses, eventually debasing the currency to the point of hyperinflation, or risk defaulting on its debt and going bankrupt. When a country goes bankrupt, the currency becomes worthless (i.e. the currency experiences hyperinflation). When the USSR went bankrupt in 1989 its currency hyperinflated.
3. The inflation of our money supply has an exponential destruction of our currency. Meaning, they print 1 Trillion to buy stuff today, but by next year, they need 2 trillion to buy the same amount of stuff.
4. On top of the inflation of our money supply, there is a general depression in the USA right now that is deflating the value of our physical assets, which means we will have less tangible things to back up our currency, further accelerating currency debasement. (note: inflation of the currency and deflation of assets is called biflation).
5. If at any time the USA raises interest rates, like they did in the 1980's, to combat inflation, it would increase the interest payments on our $14 trillion debt to unpayable levels which would cause the USA to default on its debt.
Can anyone dispute any one of the 5 points listed above? Otherwise hyperinflation is guaranteed (maybe not in 10yrs, but eventually. I think 10yrs is a reasonable guess).
I don't know what hyperinflation would entail for all of us, either. I know the old and poor suffer the most, but it shouldn't be a madmaxx scenario. Remember that Wiemar Germany went from hyperinflation to taking over Europe in less than 15yrs.
I think hyperinflation will happen <10yrs:
1. The US Gov. will never reform its massive entitlement programs.
2. It will print more money to pay for its expenses, eventually debasing the currency to the point of hyperinflation, or risk defaulting on its debt and going bankrupt. When a country goes bankrupt, the currency becomes worthless (i.e. the currency experiences hyperinflation). When the USSR went bankrupt in 1989 its currency hyperinflated.
3. The inflation of our money supply has an exponential destruction of our currency. Meaning, they print 1 Trillion to buy stuff today, but by next year, they need 2 trillion to buy the same amount of stuff.
4. On top of the inflation of our money supply, there is a general depression in the USA right now that is deflating the value of our physical assets, which means we will have less tangible things to back up our currency, further accelerating currency debasement. (note: inflation of the currency and deflation of assets is called biflation).
5. If at any time the USA raises interest rates, like they did in the 1980's, to combat inflation, it would increase the interest payments on our $14 trillion debt to unpayable levels which would cause the USA to default on its debt.
Can anyone dispute any one of the 5 points listed above? Otherwise hyperinflation is guaranteed (maybe not in 10yrs, but eventually. I think 10yrs is a reasonable guess).
I don't know what hyperinflation would entail for all of us, either. I know the old and poor suffer the most, but it shouldn't be a madmaxx scenario. Remember that Wiemar Germany went from hyperinflation to taking over Europe in less than 15yrs.
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