I really really struggle to understand how anyone can have a rational justification of that guy.
I'm not saying this is a good rationalization, but it is a fairly rational one, as those things go.
People couldn't even deal with 9% here.
There is no point in saving money at all with 200% inflation.
It is completely alien concept and unimaginable to anyone living in the US.
At some point they had to do something drastic.