Letter Re: The Consequences of Mass Inflation
Jim: I never paid much attention to warnings of [mass inflation or] hyperinflation. Because most discussions about hyperinflation only mention the loss in value of savings, and I have none (in the form of dollars, anyway) I blew this off as a threat that wouldn’t affect me. But I recently realized that the threat of hyperinflation to folks like myself, who live paycheck to paycheck is not the loss of value of our savings. Rather it is the time it takes our pay-rate to catch up with the new price of the goods and services we purchase… if it catches …