Although central banks are working to create more stimulus measures, and economists expect inflation in the United States to rise, many other countries are currently suffering from considerable inflation. On Monday, Alex Gladstein, Chief Strategy Officer of the Human Rights Foundation, explained that 1.2 billion citizens worldwide live with inflation rates as high as two to three digits.
Inflation: the silent killer of personal purchasing power
In the last week, many analysts and economists have been discussing the possible rise in inflation in the United States, mainly due to the massive stimulus measures produced in 2020 and 2021. This makes economists believe that inflation is being introduced into the United States. Soon, as the Federal Reserve (Fed) got into trouble, it planned to keep the loose money program strong.
Inflation refers to the decline in the purchasing power of currencies for goods and services over time. Inflation can be measured by observing the purchasing power of money during the recorded time.
For example, an inflation calculator will tell Americans how much the purchasing power of the U.S. dollar has been lost since 1913 (the year the Federal Reserve was founded). According to data, if a person spent 20 US dollars on a certain product in 1913, today, the price of the same service, product or commodity is 528.45 US dollars.
In 107 years, its cumulative inflation rate was 2542.2%. However, according to 2021 data provided by worldpopulationreview.com, it is said that the annual inflation rate in the United States is only 1.50%. According to current data, the inflation rate in the United Kingdom is roughly the same as that in the United States.
Alex Gladstein: “There are 1.2 billion people living in countries experiencing double or triple digital inflation”
Compared with many other countries in the world, the inflation rate in the United States is negligible. The Chief Strategy Officer of the Human Rights Foundation, Alex Gladstein, highlighted this issue in a series of tweets on Monday. Gladstein is also a proponent of Bitcoin (BTC) and has been a leading crypto asset promoter for quite a while.
“Many people might think that in today’s modern world, there is very little inflation,” Gladstein Say Among his 27,000 Twitter followers on Monday. “This is not the case. There are currently 1.2 billion people living in countries experiencing double-digit or triple-digit inflation.” Gladstein insisted.
Then there are the members of the Human Rights Foundation (HRF) team Rattle Inflation rates in 11 countries are between 10%-20%. He includes Haiti, Nigeria, Turkey, Sierra Leone, Uzbekistan, Guinea, Liberia, Pakistan, Kyrgyzstan, Ghana and Tajikistan. The statistics of HRF members can be compared with the inflation rate of worldpopulationreview.com’s 2021 list of countries/regions.
In addition, Gladstein Listed The “inflation rate exceeds 20%” in ten countries. Gladstein wrote that the list includes Ethiopia, Zambia, Libya, Congo, Angola, Yemen, South Sudan, Argentina, North Korea and Cuba.
Gladstein further Tweet Inflation rates in six countries exceed 50%. The six countries listed by HRF members include:
“For most countries, it is difficult to obtain good inflation data,” Gladstein Add to. “This analysis is done by comparing a few major sources. Some are very different. HRF Chief Strategy Officer said: “Other countries are experiencing revolutions/coups and are suffering from exchange rate shocks, but it is difficult to find new data. “Gladstein insisted, “It’s obvious [governments] Fabricating economic data, the situation on the ground is far worse than what they reported. “
In short, no matter which way, the monetary value of more than one billion people is rapidly shrinking. Many people have found an escape route in Bitcoin.
Comparing Gladstein’s Twitter analysis with worldpopulationreview.com statistics and data generated by many other currency inflation aggregators, you can find that his data is reliable. This means that the purchasing power of the 1.2 billion inhabitants of the planet is being eroded much faster than the United States or Europe.
The decline in the purchasing power of these countries has forced global citizens to seek safety from inflation. Compared with the fact that many countries with inflation rates of 20% to 50% or even more than 50% have seen Bitcoin (BTC) prices reach historical highs or even global premiums, the demand for BTC in these regions is much higher.
What do you think of Alex Gladstein of the Human Rights Foundation and his inflation analysis? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, worldpopulationreview.com, usinflationcalculator.com,
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