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if there's 1 thing i want to buy before things hit the fan, it would be an iphone
Originally posted by Rockpuck
reply to post by mossme89
If there was an economic collapse, something tells me you couldn't afford the data package for an Iphone...
And hyper inflation is relative.. if an Iphone cost $1billion dollars, chances are you make $500k an hour. Remember hyper inflation is the hyper inflation of money, meaning more and more is printed into the consumer market.
Deflation sounds like your concern, when consumer prices remain steady but consumer monetary supply drops (which is what happened in this depression) .. I think we still have a very long time to worry about hyper inflation. And when it comes, you'll wish you bought cans of beans instead of a fancy chunk of plastic.
So, there are a ton of signs pointing to a second economic collapse this summer, possibly even worse than the 2008 one.
"The ones who fared best were the small minority who had the foresight to exchange marks into foreign money or gold very early, before new laws made this difficult and before the mark lost too much value."
By mid-1923 workers were being paid as often as three times a day. Their wives would meet them, take the money and rush to the shops to exchange it for goods. However, by this time, more and more often, shops were empty. Storekeepers could not obtain goods or could not do business fast enough to protect their cash receipts. Farmers refused to bring produce into the city in return for worthless paper. Food riots broke out. Parties of workers marched into the countryside to dig up vegetables and to loot the farms. Businesses started to close down and unemployment suddenly soared. The economy was collapsing.