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Inflation is something we more or less take for granted these days. The idea that 5 dollars today is not going to be able to buy 5 dollars worth of stuff in the future, and the fact that you used to be able to buy a family home for 10 grand, are all the result of inflation.
The idea that over time money becomes worthless and less influences a lot of decisions in out lives. Everything from retirement planning to salary negotiations take this relatively benign and constant force into account.
But it is something that should be feared.
Hyperinflation is where this slow but steady force explodes and renders money all but useless.
Since the money printers fired up in early 2020 the US has added over three trillion dollars to is m2 money supply. That’s more than a 20% increase in the total amount of money washing around in the economy in the space of around 6 months.
What’s more is that 3 trillion dollars is coming close to doubling the amount of cash in active circulation, that is the pool of cash which is actively out there been spent on good and services rather than sitting dormant in bank accounts or term deposits.
When you consider that hyperinflation is classed as a 50% increase in general prices per month it is reasonable to expect that this printing bonanza may be starting to push into dangerous territories.
Or is it?
Is hyperinflation actually something to be concerned about, in a developed nation like the USA? Or are all of these cautionary tales simply a ploy to try and get people to buy gold coins at 50% over their base value.
Well to answer this we of course as always need to loot at a few key details and answer a few key questions.
What actually is inflation? It’s weirder than you might think
Is inflation actually good or bad for the economy?
Is the money printer causing inflation right now?
And what are the best ways to protect against this harsh reality?
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