Hyper-Inflation in Zimbabwe
I'm happy to say that I have no experience with hyper-inflation. I do have a growing concern about our growing inflation, so it was interesting and frightening to hear a man from Zimbabwe tell what it is like to deal with money that loses value as the minutes pass.
We're all feeling the pinch with marginal increases in inflation. Can you imagine going to the store for something, being interrupted by errands, returning to the store only to find the price has gone up 4x? Can you imagine that as a daily occurrance? This is life in Zimbabwe, where inflation is on a genuine runaway course.
Check out the Cato Daily Podcast for July 29, 2008, titled, "How Inflation Robs Zimbabwe". Link to Cato's podcast archive.
While most of the Federal Reserve's tinkering fixes one thing while creating other problems, one thing it can do well is to help keep inflation at bay. We need to stop borrowing money from foreign nations, and stop printing more money.