When a currency collapses, people don’t stop needing:
- A place to live
- A place to work
- A place to store goods
- Land to grow food
What changes is how many units of the dying currency it takes to buy those things.
- The building doesn’t disappear.
- The land doesn’t disappear.
- The need doesn’t disappear.
What disappears is the purchasing power of the paper used to measure it.
That’s the key idea most people miss.
I might be a little influenced by Ayn Rand's Atlas Shrugged which I'm reading at the moment but there's one more thing other than your purchasing power that disappears and that is people's ability to buy, sell, trade, work, or produce without having to fear violent government intervention.
I'm already seeing houses left to rot not because they could not be fixed but because regulation made even small repairs prohibitively expensive by tacking on endless requirements in order to escape government aggression while even more regulation makes the sale, (demolition, and reconstruction) of the same homes bureaucratically impossible.
The main reason these things have become impossible is of course the cost of fulfilling regulations and thereby covered by your initial point but I wanted to shine a light on that specific aspect of high prices that isn't directly tied to monetary inflation.
#EndThe Fed
