Wed 31 Dec, 2014 09:19 am
Hi! If America sees one of the doomsday scenarios being promoted these days involving major or hyper inflation where dollar is devalued overnight, what will happen to the zillions of $$ of mortgages and other paper floating around the US/world? THANKS!!
There's been inflation here before (you may have heard of a little thing we call the 1970s). No doomsday, no wackiness, although people took advantage of it, and some didn't. Just like every other economic change in the history of this and every other country.
There seems to be many financial pundits who predict these doomsday scenario, even those who have been accurate in the past. Their ego makes them think they're infallible, but economics is an art, not science.