Thursday, Mar 29, 2007
Wait till you see what the "real" rate of inflation is
Ludwig Von Mises (LVM) Institute: Radioactive Money
Because of Iran's great oil wealth, it has been able, thus far, to stave off a hyperinflationary blow-off. Other countries have not been so lucky. Zimbabwe, today's poster child of hyperinflation, has collapsed into economic destitution, its population suffering from the outbreak of social diseases as well as from slow starvation. And, Zimbabwe's inflation has been modest when compared to other recent hyperinflations. In the chart below, I track the exchange rates (to the US dollar) of four currencies that recently went through hyperinflations, Argentina, Brazil, Yugoslavia and Zimbabwe. As you can see, the hyperinflation in Zimbabwe is just getting underway.
Posted by lvmreader @ 03:24 PM (168 views) Add Comment
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