Sen. Rand Paul of Kentucky is currently speaking at the Republican convention. Maybe it’s a small point, but here’s what Paul had to say last year about the dangers of the coming hyper-inflation spiral:
If people are prepared to carry money to the grocery store in a wheel barrel, that may be coming… what I worry about is the Weimar Republic, I worry about 1923 in Germany, when they destroyed the currency they elected Hitler, I don’t want something like that to happen in our country.
Inflation is currently around 1.4%, below the 2% rate that most economists view as the right level. Maybe not the best person to listen to on the economy.