U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-23-2011, 08:59 AM
 
10,187 posts, read 10,555,957 times
Reputation: 3020

Advertisements

Not in the way it did in in the Weimar Republic, anyway. For that to occur people would have to have wheel barrels full of paper currency to tote around. Today most people are so heavily in debt they barely have two nickels to rub together so how are they going to bundle their cash into logs to burn it for heat when they don't have any?
Reply With Quote Quick reply to this message

 
Old 02-23-2011, 09:33 AM
 
25,060 posts, read 22,136,036 times
Reputation: 11576
Quote:
Originally Posted by thrillobyte View Post
Not in the way it did in in the Weimar Republic, anyway. For that to occur people would have to have wheel barrels full of paper currency to tote around. Today most people are so heavily in debt they barely have two nickels to rub together so how are they going to bundle their cash into logs to burn it for heat when they don't have any?
When hyperinflation happens, you still are in debt. However I believe as I remember it, your debt will not increase if inflation happens, so you'd have more cash to pay your debt off, yet everything else is astronomically expensive. If Uncle Ben monetized (aka QE'd aka printed more money) the debt, we'd see hyperinflation
Reply With Quote Quick reply to this message
 
Old 02-23-2011, 10:44 AM
 
10,187 posts, read 10,555,957 times
Reputation: 3020
Quote:
Originally Posted by theunbrainwashed View Post
When hyperinflation happens, you still are in debt. However I believe as I remember it, your debt will not increase if inflation happens, so you'd have more cash to pay your debt off, yet everything else is astronomically expensive. If Uncle Ben monetized (aka QE'd aka printed more money) the debt, we'd see hyperinflation
But as I was saying people have to have wheelbarrows full of cash to wheel around. Most middle class and poor can barely scrape a dollar together to buy a can of soup. So where will they get all this paper cash to wheel around in such a short time i.e. 5 years or so?
Reply With Quote Quick reply to this message
 
Old 02-23-2011, 11:21 AM
 
25,060 posts, read 22,136,036 times
Reputation: 11576
Quote:
Originally Posted by thrillobyte View Post
But as I was saying people have to have wheelbarrows full of cash to wheel around. Most middle class and poor can barely scrape a dollar together to buy a can of soup. So where will they get all this paper cash to wheel around in such a short time i.e. 5 years or so?
Because your job will have to pay you $100 an hour and that $100 an hour would have the same purchasing power as $20 an hour in 2/23/2011 1:20 PM EST dollars
Reply With Quote Quick reply to this message
 
Old 02-23-2011, 11:35 AM
 
Location: Raleigh, NC
20,009 posts, read 15,185,380 times
Reputation: 3739
You would get daily raises from your job, mandated by the government. The minimum wage would increase automatically on a weekly basis. Money would have to be stamped as it would be perishable just days after issue. Everyone would feel wealthier until they went to purchase something with this money. It gets out of control very quickly. The only way out is strict price controls at the barrel of a gun (literally). Then productive people begin fleeing the country. Then a wall gets built...

Been there, done that. Got the t-shirt.
Reply With Quote Quick reply to this message
 
Old 02-23-2011, 11:41 AM
 
Location: Texas
32,605 posts, read 17,684,046 times
Reputation: 18696
Default Classic Hyperinflation Could Not Occur in America

I see deflation as a much worse possibility.
Reply With Quote Quick reply to this message
 
Old 02-23-2011, 11:45 AM
 
Location: Portland, OR
9,597 posts, read 9,435,425 times
Reputation: 9210
Not sure about the fixation on paper money. Don't a significant fraction of modern Americans use plastic for transactions?

H
Reply With Quote Quick reply to this message
 
Old 02-23-2011, 12:37 PM
 
Location: Raleigh, NC
20,009 posts, read 15,185,380 times
Reputation: 3739
Quote:
Originally Posted by Leisesturm View Post
Not sure about the fixation on paper money. Don't a significant fraction of modern Americans use plastic for transactions?

H
Then credit lines would increase to 2,000,000 and you'd have to bring a wallet full of credit cards to buy groceries. Same diff. It would be more convenient than wheelbarrows, though. It would still make people's head spin on how much a loaf of bread is worth on a particular hour of a particular day. Vendors will simply do backroom deals for a stable currency, like a pre-1963 quarter would be the only acceptable money to buy bread (easily validated silver).

Probably would stop would be identity thieves since the trouble of extracting credit wouldn't be worth it, since it would be devalued instantly.
Reply With Quote Quick reply to this message
 
Old 02-23-2011, 12:40 PM
 
9,857 posts, read 6,738,725 times
Reputation: 3282
Quote:
Originally Posted by thrillobyte View Post
Not in the way it did in in the Weimar Republic, anyway. For that to occur people would have to have wheel barrels full of paper currency to tote around. Today most people are so heavily in debt they barely have two nickels to rub together so how are they going to bundle their cash into logs to burn it for heat when they don't have any?
Cute, but there has been a near 10% increase in the cost of food in recent months that has either come to us in smaller sizes sold for the old amount or same sizes with price increases.

Gas is going up.

No interest being paid for money in the bank.

Polls where people still don't get we are broke.

The banks are all busted and using a term called "Future Value" as a trick on the books to look solvent.

We are toast.
Reply With Quote Quick reply to this message
 
Old 02-23-2011, 01:14 PM
 
22,770 posts, read 25,213,574 times
Reputation: 14506
Quote:
Originally Posted by thrillobyte View Post
Not in the way it did in in the Weimar Republic, anyway. For that to occur people would have to have wheel barrels full of paper currency to tote around. Today most people are so heavily in debt they barely have two nickels to rub together so how are they going to bundle their cash into logs to burn it for heat when they don't have any?

it could happen, it would just require deliberate action on the part of the US Gov't.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top