What happens to debts during hyperinflation?
🗣️ DISCUSSION 💬
Just trying to wrap my head around hyper-inflation. If the US Dollar goes the way of the German Mark from 1923 and the USD is worthless what does that do to existing debts? If I could walk out onto the street and scoop up $500,000 from the gutter could I pay off my house? I'm sure the banks that hold the mortgages have safe guards in place to protect them. What am I not understanding?
My company gave all the executives a 25% pay raise, and the Directors 20%, the Managers 15% and everyone else a 10% raise out of the blue last month as a thank you and a "please don't quit" raise.
A bunch of the low level workers created a petition and had a ton of signatures that asked the CEO to take the 25% raises away from the executives and distribute it to everyone below Manager level.
About 40 people got fired and none of the raises were changed.