Israel, from 1972 to 1987, averaged inflation of 84%, according to Dylan Grice of Societe Generale. The country printed more money to keep up with its pace of military and social spending and inflation went as high as 500%, annualized.
In nominal terms, stocks on the Israeli exchange surged during this period, “rising by a factor of 6,500,” according to Grice. Real gains, however, weren’t there to be had.
So if we ever have hyperinflation in America, at least the Dow will go to the moon!
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