The Effects of Inflation on the Economy

Inflation in the 70s created a collapse in the real public debt adjusted for inflation and just took apart the economy. If you've got so much in your savings, saved up for retirement and price is double, now you need that much again. Now you're short money, you have to go out and work to earn it and do something. But your money has been taken away from you. And people work because they need to accumulate the value behind that money.