raghu wrote: > What about hyper-inflation? Is that something that can be completely ruled > out?
my understanding is that hyperinflation occurs only when the government is falling apart, unable to cut outlays or collect more taxes, so that its budget deficit is not only large but unending. No-one is willing to buy its bonds, so that the Central Bank must print money to allow the gov't to pay state employees, etc. Usually it's a matter of civil war and similar conflicts, though Alan Garcia of Peru has been said to cause hyperinflation without civil strife. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
