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Plenty of things are possible, but just because something could happen, does not mean that it is likely. The west is not on the brink of runaway inflation by a
by wbsss4412 5y ago
Plenty of things are possible, but just because something could happen, does not mean that it is likely.
The west is not on the brink of runaway inflation by any means. It wasn’t in the 1970s either. Hyperinflation has historically only occurred under very specific circumstances, typically after widespread devastation due to war or outright government collapse.
Edit: to add a response to the case of Venezuela, the 9% inflation rate had nothing to do with the ensuing hyperinflation. It’s not as if people’s expectations got out of control. They relied heavily on oil exports and oil production collapsed due to state mismanagement. They could’ve had 0% inflation to begin with and still would have been in this situation.
- cableshaft 5y agoI don't even think it's that likely myself, although if I had to pick a percentage chance of it happening in the next five years I suspect would be much higher than yours (if I had to give a number today, I'd give it a 7% chance). Great Britain I'd peg a bit higher, around a 12% chance, based on some articles I've been reading about their Brexit and supply chain issues.
- wbsss4412 5y agoDo you really believe there is a 1 in 6 chance the UK sees hyperinflation? They aren’t even at their 20th century high point yet, and even then they didn’t crack 30% per annum. [1] [1] https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/czbh/mm23 https://www.ons.gov.uk/economy/inflationandpriceindices/time...