Originally posted by: Dealer1
Oh . . . Oh . . . Oh, can I play. I’m going to guess that he was the one that told us in 2009-11 that the US was experiencing “1970’s-like inflation,”. “20 to 80% inflation”, “Zimbabwe-like inflation”, “runaway inflation”, and that he had predicted it! All the while having six straight years with inflation averaging under 2%. Maybe I’m wrong, but I think that was Stefan—do I win?
Unfortunately no prize was offered. And DonDiego is unaware of Mr. Halpern's inflation predictions, if any.
US inflation in the 70's ranged from 8%-per-year to a high of around 14% in 1980.
The inflation in Zimbabwe, caused in large part by redistribution of land and productive-assetts to untrained, non-productive citizens peaked in November 1980 at a rate estimated to be 79,600,000,000% per month. Even if a Zimbabwe citizen had a few 100-Trillion banknotes in his pocket, he'd've noticed a decrease in his standard of living.
The two cases are not really comparable, . . . other than that both were caused by Government actions intended to improve the lives of its citizens.
