Is America's course of inflation so obvious that it it becoming a joke?
"Zimbabwe, Here We Come!
RECORDS, THE RUSTY OLD SAW GOES, ARE MADE TO BE BROKEN. So, incorrigibly jingoistic as always, and fully aware it still has a ways to go, we have every confidence that the U.S.A. can ultimately break Zimbabwe's record, set only this year, of an annual inflation rate of 100,580%.
Scoff not, please. We know that, at least by the official count, our own inflation rate remains in single digits. But, if a rapidly undeveloping country like Zimbabwe can lift its rate nearly 35,000 percentage points in a single month, our vaunted American know-how with a little concentrated effort can surely top that.
Besides such natural advantages as a world of experience in running up debt and living far, far beyond our means, we're blessed with an administration and a Congress dedicated to the debasement of the currency, a Federal Reserve manifestly willing to pay any price for even a modicum of fleeting growth and vast legions of financial operators of great ingenuity and little conscience who can turn something into nothing."