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Down memory lane - Hyperinflation

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I grew up during hyperinflation, if I remember it correctly it got to around 800% when I was 18. It was devastating time. My father had a small, constantly straggling, business and I remember how He and My Mother rushed to the grocery store every time he got paid to use the money before it become worthless. I remember how many stores start posting the price in foreign currency (mostly dollars, they were not as worthless as they are now). When the government tried to control the exchange rate artificially everyone start using the black market rate , which was published daily on the front page of all the major newspapers. So when I read about the growing concern of inflation - due to the expenses of the war and the constant printing of money, is frightening. Not that any one forecasting hyperinflation here any time soon, but even a more moderate inflation tend to hit the middle class badly.

But this kind of pictures, from a country that used to export meet to the rest of Africa, should be a warning sign for anyone who take the dangers of inflation lightly.

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Written by Rogel

April 8th, 2008 at 11:26 am


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