> they will explain this period as a hyperinflation
No, they won't, because it wasn't.
No, they won't, because it wasn't.
If high finance generated a ROI of 9% x 2 on average since 1982, through asset price gains magnified by leverage ... that would be 64% every 3 years, on average for almost 40 years. That's a remarkable inflationary event, however you choose to define 'hyperinflation.'
> In economics, hyperinflation is very high and typically accelerating inflation.
> It quickly erodes the real value of the local currency, as the prices of all goods increase.
This is in process. You seem to think there's a specific periodic minimum that is absolute. If the period is decades, it looks the same.
> This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies, often the US Dollar.[1] Prices typically remain stable in terms of other relatively stable currencies.
Given this has affected every currency (not counting some closed off systems like NK) the flight currency is property/land/gold/etc
Right. And Jesus is coming back any day now.
Part of the definition of hyperinflation is that it happens fast. Price increases that take place over decades is not hyperinflation, it's just regular old inflation.
https://www.federalreserve.gov/releases/h6/current/default.h...
Between 1980 and 2000, California median home prices increased at a rate of less than 1% a year [1]. Over that same period many states saw price drops in real estate.
In Southern California between 2000 and today, house prices increased at an average of about 5% a year [2].
Even health care is only going up at about 5% a year on average. Tuition is going up at about the same rate.
None of this is even remotely in the same ballpark as hyperinflation.
[1] https://www.cnbc.com/2017/06/27/how-much-housing-prices-have...
[2] https://www.latimes.com/business/la-fi-southern-california-h...
[3] https://www.kff.org/other/state-indicator/avg-annual-growth-...