“Inflation is good for you!” proclaims a headline from the Intecept. “Inflation is bad for the 1 percent but helps out almost everyone else,” the article claims.
Inflation in Germany in the early 1920s led to this basket of groceries costing a million marks. Before World War I, one dollar would buy 4 to 5 marks, but by the end of 1923, a dollar was worth more than 5 billion marks.
Inflation “may be a good sign,” agrees New York Times business writer Jeanna Smialek. “Don’t panic” about inflation, says economist Paul Krugman. Continue reading
