Happy Monday to you, fine folks of the interwebs! Let's start our week off with something horrifying, shall we?
Jack Dorsey, billionaire co-founder of both Twitter and Square, says we've got big economic trouble looming:
Why are we talking about this? Because Dorsey, love him or hate him, is certainly a very smart man who has made billions by being on the leading edge of societal trends.
And hyperinflation is ... terrifying.
What Is Hyperinflation?
Hyperinflation is a term to describe rapid, excessive, and out-of-control general price increases in an economy. While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month.
Although hyperinflation is a rare event for developed economies, it has occurred many times throughout history in countries such as China, Germany, Russia, Hungary, and Argentina.
FUN FUN FUN!
It's one thing to call for faster inflation, but it may be surprising to some that Dorsey used the word hyperinflation, a condition of rapidly rising prices that can ruin currencies and bring down whole economies.
Our governing authorities better get a handle on this inflationary vortex and SOON. If they allow hyperinflation to come to the U.S., chaos and misery will follow, along with $20 gallons of milk and gas.