Even if not done “all at once” the damage hard to keep from running away. I remember seeing a Weimar-era German postage stamp for one hundred million marks.
ETA: “Milliard” is “billion”. I hadn’t seen those before.
https://www.stampsoftheworld.co.uk/wiki/Germany-Weimar_1923_Hyperinflation
Weimar-era inflation, like Argentine inflation, wasn’t due to printing money alone. Though the US is sprinting towards the other conditions that enabled it, for sure. I was speaking more about a pre-T**** version of the US where that pay down could happen with little to no inflation.
Wow.
That Feb to October portion: seeing an exponential-ish curve on logarithmic coordinates is sobering.
It was absolutely insane. My grandparents lived trough it in their early teens and had a couple of stories about it. People were literally burning stacks of money to heat their homes, the bit of coal or wood they might have still lying around was worth a lot more. Local municipalities issued their own “emergency money” because transporting and distributing freshly printed money from the central banks would have taken too long to keep up with events. Wages were paid out daily and then workers would rush to the nearest shop with a laundry basket full of “money” and try to buy some food while the “money” was still “worth” enough to buy anything at all. That sort of thing.
It’s still something of a trauma in the collective subconsciousness.
Archive link for readers who don’t have a pink bathroom:
https://archive.ph/LM2bS
Interesting. And there’s this little gem:
While many Chinese businesses are reeling from the trade war, Qi, the Maga merchandise maker, brushed off any suggestion his might suffer.
Trump supporters, he said, were willing to pay any price for items bearing the image of their beloved president — and US suppliers were making such a huge profit on them that they could afford to partially absorb the tariff impact.
A Trump baseball cap for instance, cost only Rmb7.50 ($1) to produce. Tariffs might raise that cost to Rmb20, but the caps were being sold for $50 in the US.
“American sellers could even use the tariffs as an excuse to raise the price to $60 — yet the extra cost will still be borne by the US consumers,” Qi said.
“, the dumb fascist fucks.” is just sort of implied, I guess.
Let them eat bitterness and see how they stomach it.
Carsten Rasmussen, LEGO Group COO, discusses the production network that enables the builders of tomorrow
Tramp has had a likely uncountable number of businesses fail, and he’s declared bakruptcy what, 6 times? And we’re supposed to believe that he’s not currently on the same failure trajectory with the US economy?
Checkers/Draughts requires some skill. He’s playing Chutes and Ladders.
This one from SNL had me laughing then crying because it’s spot on for a lot of people these days.
Robert Reich discusses how tax cuts put in place by 45/47 have helped businesses and harmed workers:
This also covers the economic impact of billionaires avoiding taxes: