Overspending and hyperinflation a danger?

To the Editor,

The US is almost $30 trillion in debt, but Mr Biden insists on expanding our already bloated Welfare state. Paying for it means printing lots more paper money and risks serious inflation.

So much worthless money was printed in 1920s Germany that people burned it for heat; it was cheaper than wallpaper, so they lined their walls with it. The value of money fell quickly, and a cup of coffee cost more at noon than it had at 9 a.m. Farmers refused to sell produce for worthless currency, bartering replaced money, and hoarding raised prices still further. Lifetime savings were destroyed, political disorder brought Hitler’s Nazis to power, and WWII soon followed. In 1948 barter remained common, usually coffee or cigarettes as a unit of value.

Excess printing of dollars keeps the Democrats in power, but threatens civic stability in the U.S.

Richard Merlo

Elkin

Source

Source: https://www.mtairynews.com