David Cowles
November 11, 2021
For the first time since the 1980’s, we seem to be dealing with monthly, year over year, inflation rates north of 5%. More alarmingly, the cognoscenti are busily assuring us that this uptick is “only temporary”, the result of supply chain disruptions that will ‘soon’ be fixed.
Caveat: historically (1930 Germany, 1975 US), nothing triggers hyper-inflation so certainly as denial of the simple inflation that folks are experiencing everyday at the gas pump or in the supermarket. Just ask Paul von Hindenburg…or Gerald Ford.
Happily, it has been 40 years since hyper-inflation dominated the US economy; less happily, once hyper-inflation gets into the system it is extremely difficult to get out. It took the Reagan Revolution to make it happen here.
For the first time since the 1980’s, we seem to be dealing with monthly, year over year, inflation rates north of 5%. More alarmingly, the cognoscenti are busily assuring us that this uptick is “only temporary”, the result of supply chain disruptions that will ‘soon’ be fixed.
Caveat: historically (1930 Germany, 1975 US), nothing triggers hyper-inflation so certainly as denial of the simple inflation that folks are experiencing everyday at the gas pump or in the supermarket. Just ask Paul von Hindenburg…or Gerald Ford.
Happily, it has been 40 years since hyper-inflation dominated the US economy; less happily, once hyper-inflation gets into the system it is extremely difficult to get out. It took the Reagan Revolution to make it happen here.
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