by Jacob Hornberger, Daily Reckoning.com:
What is happening in Argentina provides a valuable lesson in why governments in every country on earth control the education of the nation’s children.
Argentina is suffering the ravages of government debasement of the currency — i.e., inflation, the process by which government pays for its ever-increasing debts and bills by simply printing more paper currency. The expanded money supply results in a lower value of everyone’s money, which is reflected in the rising prices of the things that money buys.
According to The New York Times, last year prices in Argentina rose nearly 30%. This year, they’re expected to increase by 45%.
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