More Tales of 1923 Inflation
Yesterday I introduced the billion mark stamp from 1923 Germany with a bit of background behind this truly absurd item.
Today, I visited a stamp store (which the owner says now officially makes me a philatelist, rather than a person who just happens to have stamps) and had a lovely conversation with the owner. I related how I had come into my collection and how I could appreciate them more now than as a teen because I knew some of the historical background. This included my understanding of the billion mark stamp.
He one-upped me on tales of 1923 Germany.
He knew someone who grew up in this time period in Germany. He recalls his father coming home from work every day at lunch, a luxury few of us have today. The reason, however, was practical rather than a perk. Every day his day’s boss paid everyone twice: once at lunch and once in the evening. So his father brought home the morning wages so his mother could run to the store and spend them before they further depreciated.
Inflation was affecting prices on an hourly basis. His wages had more purchasing power at noon than several hours later.
I will never make fun of US economy under Jimmy Carter ever again.