Quotes about Hyperinflation from the world's top natural health / natural living authors
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 "During his life span, there have been booms and busts, mass murders, the worst wars in history, famines, hyperinflation, and national bankruptcies. Dozens of currencies and at least five empires have gone defunct. Dozens of coups and revolutions have taken place. Ideologies have come and gone. Thousands of banks and businesses have gone bust. Prominent careers have been ruined and reputations lost.
A man who has seen so much and still has his wits about him is a great treasure. If he is still solvent, that is even better."- William Bonner, Addison Wiggin, Empire of Debt: The Rise of an Epic Financial Crisis (Get the book.) |
 "In the short story, Disorder and Early Sorrow, Thomas Mann describes how a German housewife coped with hyperinflation in the late 1920s:
The floor is always swaying under her feet, and everything seems upside down. She speaks of what is uppermost in her mind: the eggs, they simply must be bought today. Six thousand marks a piece they are, and just so many are to be had on this one day of the week at one single shop fifteen minutes' journey away.
The inflation of the mark in Germany led to disorder ... and then sorrow. The inflation of the dollar leads in the same direction."- William Bonner, Lila Rajiva, Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics (Agora Series) (Get the book.) |
 "Such is a world beset by hyperinflation, where monthly or even daily price changes can hit double- and triple-digit percentages, eventually rendering the currency all but worthless. In such a surreal time, the average citizen is left stunned and fearful about what tomorrow will bring. People who have worked hard, saved plenty, and lived frugally end up impoverished and desperate. Ironically, those imbued with a hedonistic, live-for-today approach occasionally have the last laugh."- Michael J. Panzner, Financial Armageddon: Protecting Your Future from Four Impending Catastrophes (Get the book.) "During past hyperinflation periods, some domestic manufacturing firms that remained in business stopped producing goods altogether and became actively involved in speculation, profiteering, and pricing arbitrage. Many manufacturers will generate more returns that way than through traditional efforts. The combination of pricing distortions, business shutdowns, and misallocated resources invariably leads to blackouts and shortages, especially of low-margin, commodity-type products. Many basic necessities will become luxuries virtually impossible to find at legitimate retailers." - Michael J. Panzner, Financial Armageddon: Protecting Your Future from Four Impending Catastrophes (Get the book.) "During a period of hyperinflation, normal perspectives about finance and time horizons don't apply to earning a living, spending, borrowing, or investing. In Weimar Germany, for example, prices effectively doubled every 49 hours at the peak of the spiral in 1923. By then, according to a December 1999 report in the Economist, workers were paid twice a day and were given "half-hour breaks to rush to the shops with their satchels, suitcases, or wheelbarrow to buy something, anything, before their paper money halved in value again." - Michael J. Panzner, Financial Armageddon: Protecting Your Future from Four Impending Catastrophes (Get the book.) "At the height of hyperinflation during 1923 in Weimar Germany, 150 printing companies reportedly had 2,000 presses operating around the clock producing deutsch marks. When inflation reaches astronomical levels that strain existing capabilities, governments have resorted to imaginative workarounds, like printing on only one side of the paper or stamping extra zeros on older, smaller-denomination notes. Occasionally, resourceful nations have even allowed currency surreptitiously created by counterfeiters to be converted into the real thing ex post facto, in a kind of private-public partnership." - Michael J. Panzner, Financial Armageddon: Protecting Your Future from Four Impending Catastrophes (Get the book.) |
 "Economic conditions were worse in Europe, where hyperinflation stalked Germany and helped bring the Nazi Party to power.
The New Deal and Reform Soon after taking office, President Franklin Roosevelt declared a bank holiday to give solvent institutions time to recover. Senator Carter Glass of Virginia (1858-1946) and Representative Henry B. Steagall of Alabama (1873-1943) sponsored the most sweeping banking reform in the country since the days of
Hamilton. The Banking Act of 1933 created the Federal Deposit Insurance Corp."- The New York Times, The New York Times Guide to Essential Knowledge: A Desk Reference for the Curious Mind (Get the book.) |
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