The Party’s Over, by The Zman

Having the world’s reserve currency was fun while it lasted. From The Zman at takimag.com:

The Party’s Over

Money, as most people understand it, is the bits of metal and paper issued by the country where you live. For Europeans, it is the colorful stuff issued by the European Union, rather than your home government. Even so, no one thinks much about money beyond what it can do for you. It is the cool stuff you can buy, how much you earn, and how much you have to spend for the things you need to live.

The West is suffering from inflation at the moment, so people are noticing that their money buys less than it did in the recent past. In most Western countries, fuel prices are 50 percent higher than a year ago. Food prices have doubled for some items, and the price hikes have only just started to bite. Britain is warning that they are facing the biggest drop in the standard of living ever recorded.

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One response to “The Party’s Over, by The Zman

  1. If “money” can be created without productive effort, then effort can be rewarded that is not productive!”

    Like

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