Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.
This quote, by former President US Ronald Reagan, reflects the suffering of millions of innocent victims of runaway inflation and hyperinflation throughout history.
The reality of hyperinflations is exponential price increases, worthless currency, and food shortages. They are normally preceded by war, revolution, famine, or pandemics. In some cases, they are the results of decades of fiscal malpractice. Inflation has become a prominent subject of discussion in the United States and across the world.
There are 17 recorded hyperinflations in modern history. The most devastating hyperinflation happened just after World War II in one of the Axis powers when prices surged by 4.19 quintillion percent. One quintillion is one followed by 29 zeros. Prices doubled every few hours. The most recent hyperinflation episode is happening in Venezuela since 2016. America has never had hyperinflation, but they came close twice.
This book looks at ten prominent hyperinflations across history. We look at what led to the hyperinflation, the first troubling signs, and government malpractices. We also pay close attention to life for the common man, life for wealthy government officials, and popular inflation hedges employed by people and businesses. Finally, we look at how the country attempted to solve the inflation problem and deleverage the currency.
I received "Starving Billionaires" by Kendrick Fernandez to review on my blog!
This book gives an amazing explanation about hyperinflation and inflation. It provide examples of these concepts in real life situations. Very detailed explanations combined with graphs for each example.
It covers the histories of numerous of time Zimbabwe,US Revolution,Current Venezuela,Weimar,Ancient Rome era and much more.
"Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man."
An essential book to read and own. Definitely, a must have!
I highly recommend this book!
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Disclaimer: I received one or more of the products or services mentioned above for a discounted price in the hope that I would mention it on my blog. Regardless, I only recommend products or services I use personally and believe will be good for my readers.