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Is it weird that people don't revolt (generally) during hyperinflation?
773 sats \ 19 comments \ @stack_harder 3 May AskSN
I was thinking back to the Hard Boiled Egg index (good book, worth a read #922507) and hyper inflation scenarios, and find it strange that something so devastating doesn't lead to revolution in most cases. Or maybe mass riots or violent clashes.
Like, for example, peak inflation in Zimbabwe in 2008 was 89.7 sextillion percent, and they had a 100 trillion note at one point.
Basically, society failed, and yet people just kept going, and there was no uprising etc.
It's common in the btc community to hear people speculate that if the USD or other fiat breaks, when the pain tolerance goes beyond (like maybe when a bag of Cheetos costs 25 dollars or osehign), then people will 'get it' and have an awakening.
And while I'm sure some will, it just looks like instead of 'getting it' they probably just keep getting fucked into oblivion and just make more tiktoks about how terrible it is.
What do you stackers think? do you think it's strange that hyperinflation doesn't lead to revolution every time, or maybe people are so busy trying to survive that they aren't interested in fighting the system?
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226 sats \ 6 replies \ @Akg10s3 3 May
There are many factors that influence this, one of them being education.
I'm from Venezuela, currently mired in a narco-dictatorship. And not to mention its shocking hyperinflation!!
Currently, if their humiliated currency (Bolívares) were to have the zeros they've removed to supposedly disguise or hide the devaluation added to it, it would be something like this:
1,000,000,000,000,000...
That would be the figure!!
And no one cares or rebels because they're ignorant of what's happening... very few have basic education, much less someone to teach them financial education or even what Bitcoin is...
Something regrettable, but that's how it is...
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0 sats \ 3 replies \ @longlifelearner20 3 May
i cannot even imagine how hard it is the cost per living in there it is quite challenging hope u guys may stay safe.
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94 sats \ 2 replies \ @Akg10s3 3 May
Today, most of us are migrants scattered around the world... with all the difficulties that entails... However, I struggle daily, and I know there are many like me! Who don't give up! And they learn something new and support their families!
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0 sats \ 1 reply \ @longlifelearner20 3 May
that is heartbreaking to hear bro, Hoever im also happy that you became the man everybody's looking up to and will take the challenge no matter what. as i hope that those who have seen hard times may experience at least a day of laughter cuz they worth more than it. compared to what they have already seen.
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0 sats \ 0 replies \ @Akg10s3 3 May
Thanks for your reply ⚡👌
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0 sats \ 1 reply \ @stack_harder OP 3 May
This is quite fascinating. do you think that a part of it is that people have just been born into a dysfunctional currency and simply don't realise there is a better way? Like if you live with crazy inflation and things for 20 years and kids are born into it, is there a desensitization element?
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42 sats \ 0 replies \ @Akg10s3 3 May
Exactly!! Marginal and impoverishing socialism has blinded the minds of parents, and consequently, children born into this hyperinflationary chaos see it as, let's say, normal and bearable...
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42 sats \ 1 reply \ @cryotosensei 21h
I attribute it to the boiling frogs syndrome.
People get so assimilated into the hyper inflated system that they don’t even think about revolting. They may cry foul, but they will still grudgingly support the incumbent
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0 sats \ 0 replies \ @stack_harder OP 13h
defo a bit of boiling frog, although I think also an element of people always blaming politics and political parties instead of the fiat printer and all political parties
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42 sats \ 1 reply \ @kruw 3 May
People didn't even revolt during the 2020/2021 lockdowns, so it's obvious that humanity is entirely composed of 2 categories of people:
-Evil tyrants -Evil NPCs who obey them
"Good" people were eliminated through evolutionary natural selection at some point in the past.
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0 sats \ 0 replies \ @stack_harder OP 13h
after reading the comments, i have decided it's largely a heard npc issue and a fundamental lack of understanding issue or the monty printer and that fiat really is a crime
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32 sats \ 0 replies \ @longlifelearner20 3 May
a very great question you asked. i think that it isn't as weird but somehow, citizens may count on the goverment to solve such issue but revolution is somewhat like a crystal clear idea to not only grab the local gov attention but other world as well, so that may pressure the decision makers to act upon something as they would feel the danger is close due
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32 sats \ 0 replies \ @holonite 3 May
Why, did you forget the 100,000,000,000 Mark Banknote of germany during the Nazi times (WW1)? In November 1923, a kilogram of rye bread in Berlin cost 233 billion marks, a kilo of beef 4.8 trillion marks. The hyperinflation in the Weimar Republic in 1922–23 that impoverished millions of German citizens and paved the way for the rise of the Nazi Party, but the people did not stir up much riot.
Money is supposed to be intangible, thus hyperinflation or not, people are always exchanging the old money for the new value from the banks. This scenario happened in India here too some 10 years back when the 2000 Rupee note was declared void. Not many protests occured because we could still exchange our currently available notes. Those who were ignorant of the rules were affected most. That's why support DEXs and Bitcoin not CEXs
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21 sats \ 0 replies \ @3a42879d5f 3 May
I don't think it's strange because it's clear from talking to people that so few understand that it's government that causes inflation. Most people think it's caused by evil corporations, and the whole media apparatus reinforces that idea.
Inflation: "Corporate greed." Monetary debasement: "What's that?"
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42 sats \ 2 replies \ @fd055dcc2f 3 May
for revolution to occur, a revolution situation must be in place many many factors are needed
inflation is never a single factor
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10 sats \ 0 replies \ @Car 3 May
🎯 Exactly greed and power will eventually cross a line that it can’t walk back and that’s when it will happen.
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0 sats \ 0 replies \ @stack_harder OP 13h
maybe not even revolution , but more social unrest, protests , demands of the gov in power etc after all , the goc still takes its taxes and then fails to provide anything in return when the shit hits the fan
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0 sats \ 0 replies \ @OT 4 May
I think it depends on the culture. Look at France for example. They raise the retirement age by a couple of years and all hell breaks loose.
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0 sats \ 0 replies \ @stack_harder OP 3 May
should probably add that osehign was a typo for 'or something' and i missed the edit deadline!
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