This happened exactly as the poster mentioned in the 1970s. Equities, despite a 50% real drop (they were sideways through the decade) did not experience the 70% loss that cash did.
Today multinationals are much more well... multinational, and they're currency-hedged better than they were then. This allows them to avoid much of the inflationary pain of a single currency.
Countries have been inflating their way out of bubbles for thousands of years at the expense of the currency. Acting as if that either hasn't happened many times prior or can't happen again is an article of faith
Today multinationals are much more well... multinational, and they're currency-hedged better than they were then. This allows them to avoid much of the inflationary pain of a single currency.
Countries have been inflating their way out of bubbles for thousands of years at the expense of the currency. Acting as if that either hasn't happened many times prior or can't happen again is an article of faith