Weimer Inflation in America »
Posted by: engineer 3 months agoThis article shows a parallel between the present monetary situation in the US with that of the Weimer Republic in Germany where irresponsible fiscal policy brought down the republic.
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engineer3 months ago
The Weimar government was paying its bills on credit รข;; just like Zimbabwe is now doing. The Weimar government was issuing currency in exchange for valuable goods and services that it was receiving, and the vendors of those goods and services accepted the newly issued currency in the expectation that they would be able to exchange it for goods and services of like value. However, they soon realized that they were deluding themselves. Prices were rising rapidly, with the consequence that a flight from the currency into commodities and other tangibles began.
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engineer3 months ago
This is the most scary article I've seen reflecting the stae of the American economy and fiscal policy
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engineer
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