If you’ve watched the news lately, there’s been news of inflation. With as horrible as the economy is, something needs to change for the better. Personally I don’t think that printing extra money is a good idea, but I’m not an economist, so I may not know what I’m talking about. I have fears that hyperinflation is going to take place and it scares the pants off me. I’m worried that if hyperinflation occurs, it will have a domino effect and worse things will happen. Here are some of my concerns about hyperinflation:
1. Goods will become way too expensive. Food prices will rise sharply, people will freak out and the grocery stores will be empty. People will start buying food to hoard because of hyperinflation. Other goods will cost a lot more money, which will mean that our current salaries will not go as far.
2. The stock market will crash. After the news of hyperinflation breaks out and is a reality, people will respond by selling all their stocks to get out of the stock market. After the stock market crash, who knows what will happen.
3. Money in savings will be useless. Paper money won’t be worth anything. People will start bartering more for goods and services. Gold and silver prices will be higher than anyone would have ever imagined. All that money that you worked hard to save over the fast few years? Not worth anything any more.
4. Riots will break out as food and water become scarce. The government will send out the National Guard to try to counteract the riots, but it really won’t help. People become more angry.
5. Other countries will refuse to help the U.S. and China will stop purchasing bonds and investing in the U.S. economy.
6. Oil will become a lot more expensive, and the countries we get oil from will stop sending us oil.
Of course, these are worst case scenarios and it’s almost like Armageddon. I’m not sure if hyperinflation will be the Armageddon or not, but I know that it wouldn’t be a good thing for the United States. I know that one of my biggest concerns is not being able to pay for food or have access to enough food to feed my family. It’s also disheartening to think that all that money that we’ve saved up will not be worth anything. That’s a horrible thought!
I’m not an economist, and I try my hardest to stay away from the news. Things in the country are scaring me right now, and who knows what’s going to happen. I wish I had a magic wand to just make everything better, but I don’t. I think I’m just going to keep on living life like I have because the only other alternative is to worry, and that doesn’t help anything. We’ll keep gardening, living simply, and saving money because that’s what we always do.
What do you think will happen with the United States economy in the near future? Do you think we heading towards hyperinflation?