L 0 K 1 on Nostr: This is ~14.4% average inflation over the last 8 years. ...
This is ~14.4% average inflation over the last 8 years.
https://www.weforum.org/agenda/2022/06/hyperinflation-inflation-interest-rate/According to the WEF, inflation "may reach" "10%"...
uh huh. Fucking liars.
https://en.wikipedia.org/wiki/Hyperinflation#DefinitionThe International Accounting Standards Board has issued guidance on accounting rules in a hyperinflationary environment. It does not establish an absolute rule on when hyperinflation arises, but instead lists factors that indicate the existence of hyperinflation:[9]The general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency. Amounts of local currency held are immediately invested to maintain purchasing power;The general population regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency. Prices may be quoted in that currency;Sales and purchases on credit take place at prices that compensate for the expected loss of purchasing power during the credit period, even if the period is short;Interest rates, wages, and prices are linked to a price index; andThe cumulative inflation rate over three years approaches, or exceeds, 100%.
By this definition above, we are in hyperinflation already at 14%
1.144 ^ 3 = 2.74
That's 270% in the last 3 years taken on the average from the last 8 years.
In actual fact, starting in 2020, the inflation rate has been more than double that. I remember noticing it was happening already in 2019, seeing price mismatch at a supermarket in Shumen, Bulgaria, that had more than 30% between the shelf label and the sticker on the products, which couldn't have been more than a year, absolute worst case scenario.
Gm nostriches!
scrolling through my old photos, I encountered one that I took at a gas station of a panini. I took it to send it to my girlfriend, waiting in the car for me to buy something to eat during a trip.
It was 2,70€ back in 2015. Mind you, it was a simple panini with grilled vegetables, nothing more.
This summer we went on a trip and we stopped at a gas station, that was the same franchise as the one of that photo (Tavola Amica for my italian friends).
The same damn panini, with the same ingredients now costs 7,90€.
These days, gas price floats between 1,95 and 2,10€/liter (for my american friends this means 7,90~8,50 dollars per gallon).
This is when I recognize that they are winning.
For now.
Pura Vida!
#bitcoin
Published at
2023-09-18 09:29:02Event JSON
{
"id": "f381a4407fe93374717596b554340b92171a6f394ed9f1e010c7f67812fc45c1",
"pubkey": "3628e6a5764cacab310474c9f9c588657989c74b5ef0718c7e6e0e53a2a1f773",
"created_at": 1695022142,
"kind": 1,
"tags": [
[
"p",
"648c0f5302c75f38382a4d2c85a482b927cc61b2828a0794e36c6cc796de86a6",
"wss://nos.lol",
"italic 13%er🗿⚡️"
],
[
"e",
"878effb671bbb52f41e29293c8c7b66fec121651cf5cb2f8f09a2164dbc3fe61",
"wss://nos.lol",
"mention"
],
[
"client",
"coracle"
]
],
"content": "This is ~14.4% average inflation over the last 8 years.\n\nhttps://www.weforum.org/agenda/2022/06/hyperinflation-inflation-interest-rate/\n\nAccording to the WEF, inflation \"may reach\" \"10%\"...\n\nuh huh. Fucking liars.\n\nhttps://en.wikipedia.org/wiki/Hyperinflation#Definition\n\nThe International Accounting Standards Board has issued guidance on accounting rules in a hyperinflationary environment. It does not establish an absolute rule on when hyperinflation arises, but instead lists factors that indicate the existence of hyperinflation:[9]The general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency. Amounts of local currency held are immediately invested to maintain purchasing power;The general population regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency. Prices may be quoted in that currency;Sales and purchases on credit take place at prices that compensate for the expected loss of purchasing power during the credit period, even if the period is short;Interest rates, wages, and prices are linked to a price index; andThe cumulative inflation rate over three years approaches, or exceeds, 100%.\n\nBy this definition above, we are in hyperinflation already at 14% \n\n1.144 ^ 3 = 2.74\n\nThat's 270% in the last 3 years taken on the average from the last 8 years.\n\nIn actual fact, starting in 2020, the inflation rate has been more than double that. I remember noticing it was happening already in 2019, seeing price mismatch at a supermarket in Shumen, Bulgaria, that had more than 30% between the shelf label and the sticker on the products, which couldn't have been more than a year, absolute worst case scenario.\n\nnostr:nevent1qqsg0rhlkecmhdf0g83f9y7gc7mxlmqjzegu7h9jlrcf5gtym0plucgpp4mhxue69uhkummn9ekx7mqp6ytkv",
"sig": "8696c94105630c8c27359145ef2728c41771907cdbf6498a45b538d5ee7ceaff5e39c8d07701da6d348ed20b9eccf39604e78c934cc0d5dad99dc84847d573be"
}
