Prince Aleph on Nostr: Technically I think we didn't even get hyperinflation during the peak time of ...

Technically I think we didn't even get hyperinflation during the peak time of inflation which was actually mid-2022. There was a lag effect beteeen money printing and the tsunami of inflation hitting; I think lockdowns might have even slowed it a bit in some categories by limiting velocity of money although durable goods prices had already shot up because of supply chain problems. But what we saw after that was all services experiencing huge inflation which is still with us but a bit lower. And services are the majority of US economy now. Services inflation even according to official fake numbers is still 5% today.

Some countries like Brazil, Argentina and even Israel had times of hyperinflation and they would get 50%+ price increases in a month! Obviously we were never close to that but at times I would say it was 20-25% per year which still sucks because that means prices double in <3 years or so. And certainly prices have gone up more than they say, with some services already being 2-3x what they were a few years ago. But a hyperinflation that completely destroyed the US dollar value, well, they'd have to print a lot more to get that. Inflation will stay high though because both Trump and Kamala want to do even more deficit spending, so it doesn't even matter much who wins.