Zimbabwe’s $100-Trillion Lesson for America
Ernest Istook /
Some wonder whether the stock market’s rebound to over 10,000 is a sign not of economic recovery but of inflation. Is the simultaneous rise in gold prices another symptom of dramatic inflation ahead, sparked by big government blunders?
An article at Smart Money includes Jonathan Hoenig’s warning of government-caused hyperinflation. Rather than pointing to Germany’s Weimar Republic of the 1930’s, he points to Zimbabwe during the last year. That African nation printed a supply of bills valued at $100-trillion apiece—and now worthless already. Hoenig writes: (more…)