We are one crop failure away from hyperinflation. We can all get by without some things, food is not one of them. What's the FOMC doing...NOTHING, but talk. This evening we will see how much more QE was added. All this time FOMC has been talking tough, they are still adding to their balance sheet. Something has got to give here.
Hyperinflation does not result from crop failure. Hyperinflation is a monetary phenomena resulting from printing too much money or adding zeroes to the balance sheet.
I agree, but high energy prices also drive inflation in almost every other industry. That's a policy issue (shutting down pipelines, disapproving leases, heavy regulation on everything but fairy dust "green energy.") Terrible domestic energy policies (and excessive lockdowns disrupting various supply chains) along with money printing have led to this.
I think at the core, hyperinflation is when the markets lose faith in the government like what's happening in Sri Lanka (and perhaps Pakistan soon). That has been historically true like in 1920s Germany, Zimbabwe, Argentina every 10 years, Turkey, etc.
This is what people voted for. The media isn't showing you any stats, but I gotta believe the poor and marginal folks are suffering horribly right now. For all the talk of income inequality, they sure have created a lot more of it.
Is it only me or do others not recognize all the “Hyperinflation”? Yesterday a chart on twitter on energy related cpi for my country ( Northern Europe here) which showed a crypto alike parabolic chart. The only thing that got somewhat more expensive is the heating bill, maybe 100-150 p/month more. Higher food prices? I don’t see it. Same for other goods and services.
Food prices are way up in the U.S. over the last 15 months. Meat, dairy, eggs, produce. So are gas prices, used cars and most other things. A local coffee store owner says he's paying twice as much for beans and other supplies, but not charging it back to consumers.
Egg prices are surging because of a major disease, and it’s not COVID https://fortune.com/2022/04/18/egg-prices-surging-avian-flu/