Hyperinflation

I would like to see a citation of someone referring to 1970 inflation as hyperinflation.

@R. Pointer

Here you go.

Yah credit card gotcha clauses are to American 1970's inflation as payday lenders are to real hyperinflation.

A common theme I've seen on the Intertubes is that the government is "hiding" hyperinflation by manipulating the official inflation figures. Again, despite their being no real definition, one of the salient features of historical examples of hyperinflation is that while it was happening, it was pretty apparent to all affected, no matter what the official figures said.

I frequently hate your posts, but thank god you're speaking out on this. I think Kling is guilty of this.

Hyperinflation should be defined as the self-reinforcing rise in velocity caused by the inflation itself- an upwards spiral out of control. At what level of inflation does this happen? Depends on the society.

At any rate, it must be quite impossible to hide hyperinflation.

Lori,

I think that is the key to the definition. Once people become aware of inflation to the extent that, let's say, half the population wants to hold only real assets rather than any paper ones, then you have hyperinflation. The rest soon follow in abandoning holding cash/bonds of any kind.