Bloomberg News recently solicited advice from Argentinians who lived through that country’s high inflation on how Americans should cope with rising inflation. The Argentinians suggested Americans spend their paychecks as fast as possible to avoid future price increases. They also suggested taking out loans that can be paid back later in devalued currency. These strategies may make sense for individuals. However, encouraging debt and discouraging savings is disastrous for the country. Relying...
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from Is the Crack-up Boom Here?
