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how can inflation be transitory,minimum wage was $3.95,then 8.95 and now $15,can you roll back to $8.95?
Sling just raised its subscription by 3 dollars,I think,it is not going to go back to its old price..
Nor will your landlord rolling back rent.
Hyperinflation could occur in the USA with massive productivity destruction. Same as Weimar. Loss of a major War on our soil, and massive physical destruction. An asteroid could do it too. Money printing itself should not cause hyper, but certainly can aggravate endemic inflation.
We're in a position due to the pandemic and climate change where supply disruptions in our fragile and complex global supply change is very possible and maybe even likely. A worst-likely scenario could plausibly include hyperinflation. As you say, it would be due to supply disruption, not The Fed as goldbugs usually worry about. Pandemic disruptions would likely be short-term, but climate change would obviously be more permanent. Droughts in farming areas, higher tides flooding coastal industrial zones, topsoil shortages, etc.
We're in a position due to the pandemic and climate change where supply disruptions in our fragile and complex global supply change is very possible and maybe even likely. A worst-likely scenario could plausibly include hyperinflation. As you say, it would be due to supply disruption, not The Fed as goldbugs usually worry about. Pandemic disruptions would likely be short-term, but climate change would obviously be more permanent. Droughts in farming areas, higher tides flooding coastal industrial zones, topsoil shortages, etc.
Climate change I would think in most cases would be gradual enough so that people can adapt. They will simply move away over time and live in other areas. Were I live in rural AZ we saw with the Pandemic, many Californians moving or buying homes here. Which was abrupt. Of course the CA fires are even more abrupt. And of course water there is already a very serious issue in some areas. But our AZ heat hasn't really changed in the 40 years I've lived there. What we've seen is that the average low temperature has risen, but not the absolute highest temp.
Climate change I would think in most cases would be gradual enough so that people can adapt. They will simply move away over time and live in other areas. Were I live in rural AZ we saw with the Pandemic, many Californians moving or buying homes here. Which was abrupt. Of course the CA fires are even more abrupt. And of course water there is already a very serious issue in some areas. But our AZ heat hasn't really changed in the 40 years I've lived there. What we've seen is that the average low temperature has risen, but not the absolute highest temp.
Why would it be more gradual than the pandemic? After all, the pandemic itself could well have been caused by climate change for all we know by changing the habitats of pangolins or something. I don't think COVID was necessarily caused by climate change, but a future pandemic certainly could be; it's basically guaranteed on a long-enough timeframe. More immediately, the Arab Spring that prompted an enormous migration crisis was caused partly by drought from climate change in the region. Fires and hurricanes are being accelerated by climate change.
There are all kinds of current and potential disruptions due to climate change beyond people feeling slightly warmer. If that were the extent of climate change, it wouldn't be a disaster.
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