09/09/10
Lessons for America from Germany’s Hyperinflation
| By Jim Powell Many Americans may be inclined to assume that Germans were barbaric because they supported Hitler, and whatever happened there couldn’t possibly apply to the United States. But the Germans have had much more in common with Americans than we might realize.
The average American probably has no idea what happened in Germany after World War I, and may not care. This article will take 10 - 15 minutes to read, and will give you some education. A government that is bloated with too many bureaucrats, is funding too many "entitlement" programs and goes deeply in debt to pay for it all, then relies on the printing press to create money to pay for it, ends in a disaster worse than the war. The financial catastrophe hit the German citizens so hard, that when the madman Hitler offered to improve things, the Germans welcomed him. The Germans did not embrace Hitler because Germans are "evil" or have some character defect. They had been ruined by hyperinflation and were grasping at straws for survival. What are we going to do when it happens here?
Those who cannot remember the
past are condemned to repeat it.
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