Thanks, Lkorrow. It would be nice if the author would give us his definition of hyperinflation so we'd know what he really means. The definition I tend to associate with hyperinflation is 'a 150 percent Y-O-Y increase in prices.' So 'hyperinflation' is not a term to be bandied about lightly or casually predicted!
But, as I've said on many occasions, it isn't just hard to measure overall price changes, it's flat out IMPOSSIBLE. The CPI is a joke - on us, unfortunately. It's just a tool used by bankers and politicians to foster the impression that they know what they're doing.
Another definition I'm familiar with is non-numeric. It's that hyperinflation occurs when the population has sufficient loss of faith in a currency that they exchange it as quickly as possible for more reliable stores of value and items with actual utility.
Most economic pundits, though, use the term loosely to mean 'a high rate of inflation,' or even 'an increase in the money supply.' Pretty weak...
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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