By Roger Gitlin – EYE ON DEL NORTE – March 7, 2022
Has hyperinflation come to Del Norte County, (California and the USA)?Hyperinflation is defined as accelerating inflation which erodes the buying power of the currency.
The argument can be made fuel price spikes, daily and weekly, compromise the purchasing power of the dollar.
After the Great War (WW1)at the Treaty of Versailles, Georges Clemenceau of France handed vanquished Germany a reparations bill for $19 Billion. The ever-so clever Germans opened up their printing presses and sent its fiat paper currency back to the Allies. Within a few months, Germany was in a state of hyperinflation. One would need a wheelbarrow of Deutsch mark paper currency to buy a loaf of bread. And as Germany suffered, Hitler arose like helium from the devastation of the Great World War.
Today’s economics are somewhat different.
Inflation will continue to erode our buying power and wreak havoc on the weak dollar.
Prices will soon spike in our retail stores.
The failed policies of the Biden Administration are and continue to be devastating. What to do?
Buy only what is essential. The Federal government must stop this reckless spending on feel good social programs. I understand gas prices may soar to $10 per gallon. Those predictions are dire but to date nonetheless are rumors. We must all be very vigilant. Conditions will worsen.