Skip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed byour Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contactDow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.https://www.wsj.com/articles/the-money-boom-is-already-here-11613944730ShareBy and Feb. 21, 2021 4:58 pm ETListen to article(6 minutes)Speculative manias are in the air, as evidenced by the recent price surges for bitcoin, a digital asset with a fundamental value of zero, and GameStop, a...…Skip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed byour Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contactDow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.https://www.wsj.com/articles/the-money-boom-is-already-here-11613944730ShareBy and Feb. 21, 2021 4:58 pm ETListen to article(6 minutes)Speculative manias are in the air, as evidenced by the recent price surges for bitcoin, a digital asset with a fundamental value of zero, and GameStop, a...WW…

is in the throes of an unprecedented economic collapse. Oil, Venezuela’s lifeblood, is being mismanaged by Petróleos de Venezuela (PDVSA), the country’s state-owned oil company. Faced with dwindling revenue from PDVSA, the government has relied on its central bank to finance public expenditures. To satisfy these demands, the Banco Central de Venezuela has turned on the printing presses, and, as night follows day, hyperinflation has reared its ugly head again.In total, there have only been 62 episodes of hyperinflation in history. Venezuela, is one of only two countries . Today,...…is in the throes of an unprecedented economic collapse. Oil, Venezuela’s lifeblood, is being mismanaged by Petróleos de Venezuela (PDVSA), the country’s state-owned oil company. Faced with dwindling revenue from PDVSA, the government has relied on its central bank to finance public expenditures. To satisfy these demands, the Banco Central de Venezuela has turned on the printing presses, and, as night follows day, hyperinflation has reared its ugly head again.In total, there have only been 62 episodes of hyperinflation in history. Venezuela, is one of only two countries . Today,...WW…

addition to facing an acute COVID-19 crisis, Argentina’s deadbeat economy is collapsing, and, as usual, the inflation noose is around Argentines’ necks. Argentina’s official inflation rate for August 2020 is 40.70 percent per year. And, for once, Argentina’s official rate is fairly close to the rate that I calculate each day , a methodology that has long proved its worth when compared with official statistics. Today, I measure Argentina’s annual inflation rate at 37 percent, but probably not for long — the noose is generally followed by the trapdoor.As Milton Friedman put it in his 1987...…addition to facing an acute COVID-19 crisis, Argentina’s deadbeat economy is collapsing, and, as usual, the inflation noose is around Argentines’ necks. Argentina’s official inflation rate for August 2020 is 40.70 percent per year. And, for once, Argentina’s official rate is fairly close to the rate that I calculate each day , a methodology that has long proved its worth when compared with official statistics. Today, I measure Argentina’s annual inflation rate at 37 percent, but probably not for long — the noose is generally followed by the trapdoor.As Milton Friedman put it in his 1987...WW…