[ameetgaitonde]

The key similarity in all those situations was a loss of productive capacity.

The Confederate currency wasn't backed by any assets, so it lost value as their defeat became more likely. Apparently, it lost 20% of it's value after the battle of Gettysburg.

Zimbabwe's government seized the land of white farmers and gave them to people who lacked farming knowledge and experience. Predictably, their output cratered, sparking the hyperinflationary spiral.

Germany lost a huge amount of it's productive capabilities due to the Treaty of Versailles. Keynes wrote a fantastic book (The Economic Consequences of Peace) that lays the economic case for why the Treaty would be a disaster. Germany basically had much of its land, equipment, and other assets seized while also being saddled with significant war debts. They were effectively forced into hyperinflation by the structure of the treaty.

[simonblack]

The key similarity in all those situations was a loss of productive capacity.

And the US production figures have gone where in the last 40 years? In 1980 the US was the world's biggest creditor nation. By 1988 the US was the world'd biggest debtor nation.

The debt and deficit have only grown larger since then.