Strolling along the shores of the mainstream . . .
There's a lot of fiction (e.g. "The Day the Dollar Died") where the government decides to crack down on rampant tax evasion, hoarding, price gouging, etc. by setting up a system of total financial control such that you can't buy a stick of gum without the government's approval. In real life there was Project Cybersyn, a computer network built by the Allende government to manage Chile's crumbling economy. Its Star-Trek-style control room terrified Allende's enemies, but was actually just a glorified slide projector.How do you square this all-powerful cyber-dystopia with Healthcare.gov? Or Canada's long-gun registry? Or the IRS modernization? Notice how every big-government IT project runs years behind schedule, billions of dollars over budget, and more often than not gets scrapped because it still doesn't work.
If hyperinflation is even remotely possible in the near future, then why are prices for most items on any marketplace today getting cheaper? Just pick an item and look it up on eBay, Amazon, Etsy, and so on. You will find more sellers and the price of the item more affordable. Most books on Amazon you can buy used for just a penny. If hyperinflation were on the way, those would all be twenty-dollar books or hundred dollar books. Instead, the opposite seems to be happening. Goods are getting cheaper to buy. More sellers on the market are on a race to the bottom. It's great to be a consumer.
Because there's little demand for used books. In a declining economy, people get back to the basics: food and fuel. It doesn't help that literacy is declining too. Look at Detroit, with its abandoned buildings stripped bare, except the libraries, whose books still stand in neat rows on the shelves. Or the recent rioting in London, where whole streets were looted but the bookstores were spared.
even if you think you live in capitalism and free market , the actual prices are controlled by cartels or their middlemen , the classic case of such a middleman is the governement that is under control of cartels.In the US you need to pay more and more money for food , gas , all possible services etc. .Books are a bad example for the US specifically but for example in France and in Germany there is a law that says that it is a criminal offence to sell books below the official price , all this is done "for the sake of preservation of local culture" but eventually it's all just about making money , just the actual specifics of the system may vary depending on the country...
Hi GL, In your blog entry of 10/28/2010, you confidently predicted that hyperinflation would be well under way (CPI over 15%) by March of 2012. What went wrong? I don't think there was any slowdown in the money printing cycle since 2010; on the contrary, they just seem to get more and more brazen about it. If you've figured out why it didn't happen then and why it might be different next time, your book might be well worth reading.
You’re absolutely right: I was quite confident that 2012 would be the year. I was wrong about the timing—but not about that it will happen. That dollar hyper-I will happen is inevitable—the United States is bankrupt, and has been using its central bank to pay for its bankruptcy by printing. (The last four years of deficit spending would not have been possible without the Fed's QE printing.)In the book, I discuss the specifics of why it's taken longer than anticipated, and why nothing the Fed or the Federal government has done will change the eventual outcome. GL
I think I can explain why we did not get high inflation already and why this does not make us safe going forward.http://howfiatdies.blogspot.com/2013/02/excess-reserves-is-like-government-debt.html
I will check this out, thank you for this effort. I am sitting listening to National Propaganda Radio and amazed at the level of dystopian disconnect that the drones engage in. In other news the JP Morgan will not accept a payment of cash to my stepdads account. I also notice that my bank, a low cost card that I load ect. will not be able to access ATM's outside of the USA.For me it is time to go.
Mr. Lira,I have money in hand and have looked forward to buying your book. Unfortunatley I am an old guy and cannot read it because I don't know how to open your samples. Please let me know when you plan to have it on Kindle so It can go to my Kindle or Nexus 7 or be a downloadable PDF. I know how to do that.I have been a fan of your work and have read everything your have published. Keep up the good workRegards
Gonzalo,I'll buy your books when I can get dead tree versions. Why don't you put them on Lulu?
Whether you agree with me or not, thank you for your comment. If you liked what I wrote—or if it at least made you think—don’t be shy about making a payment. The PayPal button is there for your convenience. If you have a question or a private comment, do feel free to e-mail me at my address email@example.com. GL