The U.S. dollar is a handy backup when a country’s currency loses its value. After Zimbabwe’s hyperinflation hit its peak (or its nadir) in 2009, they used U.S. dollars but didn’t have enough. So, when the cash got too gray…
Whereas we moved from many time zones to four during the 19th century, now, with globalization, we should switch to coordinated universal time for everyone.
Through six simple facts, we can better understand the meaning of Venezuela’s hyperinflation and how much it has diminished production.
Calming the everyday monetary chaos created by Venezuela’s hyperinflation is about much more than lopping zeros off its currency.
The economic way to demonstrate sadness is to look at misery indexes that use macro data to measure changes in our emotions.
When Venezuela’s inflation rate entered the stratosphere, it created chaos that shifted the rhythm and rationality of daily life.
Last year, Venezuela’s inflation rate exceeded 800%. For this year, the data conflicts. While the Wall Street Journal and the IMF say Venezuela is on its way to hyperinflation, Johns Hopkins economist Steve Hanke says the rate is closer to 70%.…