inflation: if it’s not behind you…it’s ahead

-gle

109339958 Today in the office I had a nice discussion about the risks of the come-back of double-digit inflation down the road in a couple of years or so, something that we kids of the 70s recall when shopping with our mums at the supermarket.

To me back then it seemed NORMAL that prices of pasta Barilla and Nutella would change every week or so, I did try to desperately memorize the prices but it wasn’t worth the effort. We had then mini-assegni, funny wannabe banknotes-in-lieu-of-coins, something I hear is back in fashion in the US these days. Early 90s, freshly graduated, my first image of London was one of building societies changing daily the interest rates on the window-displays, and I clearly remember that it was in the double-digits (and starting with a “2”).

The discussion ended with “it was all the fault of the Versailles Treaty, it paved the way for disaster for poor Weimar young and sexy Republik…then things went sour”.

Or, as in Tom Tykwer’s “The International”, big debts are big crow bars….

Even if I do not particularly like the new Herald Tribune web edition layout, I do looove the fact that now when using the SEARCH function you can dig deep and directly in the PDFedded archives of the New York Times… there are very interesting articles for useful meditation…which remind me of hedge funds buying single-handedly entire blocks in East Berlin from the helicopter only a few quarters ago, or individual investors buying flats on the basis of the Expose’ and looking up the property only on Google Earth, and not by stepping in the Kiez and walking up the Treppe of the Vorderhaus.

There were neither copters, nor Google Earth back in 1922, indeed turbolent times and postdemocracies are back in Europe…and Angela may be quite right in fearing the comeback of those zeroes by the kilo.

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