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Pastimes : ClownBuck Deathwatch -- Ignore unavailable to you. Want to Upgrade?

To: Cactus Jack who wrote (271)	12/22/2005 9:20:14 AM
From: Tommaso	Read Replies (2) \| Respond to of 329

Really bad inflation seems to hit mainly countries that have lost control of their economic destiny, at least for the time being. The United States is too wealthy and powerful to succumb to that type on inflation (i.e. 15-20% per year or worse). But I can certainly imagine an additional loss of purchasing power of 85% over an eight-year period, the consequence of 8% per year compounded inflation (defining inflation as general rise in the level of prices). 85% would be a disaster for anyone on a fixed income, and would be demoralizing for everyone except those who were profiting from it. Demoralizing for them, too, in the sense that they would be making money from other people's misfortune.