The term hyperinflation describes an economy that has an inflation rate of over 50% on goods and services, for at least one month.
Jon Najarian, co-founder of MarketRebellion.com says, “Everything from all the food that we consume to the gasoline or fuel for your vehicles to heating your home, all of that stuff is impacting us right now. “
Currently, we are in the midst of a pandemic, the economy has been disrupted through technological changes, resulting in remote work. Outdated economic models are no longer relevant as they are not able to adapt to the rapid pace of innovation, adjust to massive stimulus packages, or account for novel global viruses that are sweeping the globe at unprecedented speeds.
Jon Najarian says, “We're all screwed as far as inflation goes. And I don't believe it'll be transitory.” He adds, “Now the Fed's already looking out there at 2023, we're in 2021. So that's years—plural—into the future that we're going to be seeing inflation.”
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When you look around, you see that everything has skyrocketed in price. The natural question we must ask ourselves is are we experiencing hyperinflation?
Based upon data and information coming from the Federal Reserve, we haven’t reached a hyperinflation pace at this point. However, the state of our economy isn’t exactly on stable ground. The decisions and actions that the U.S. government and leadership within the Federal Reserve make going forward will weigh heavily on the health of our future economy.
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