Inflation is an economic disease which hits the poorest hardest mainly because they are simply not able to cover the rampant price increases with their meager earnings.
The next lot who get hit by high inflation are the salaried folks, whose salary is rarely indexed against inflation. So you have a fixed income and you get hit by price rises. You cant handle it. See here for a previous essay.
But here's Iranian President Ahmadinejad joked about inflation, at a time when inflation is rising horribly hard, so bad that they are even thinking about lopping off zero's from their currency notes! He said and I quote,
Mr Ahmadinejad has frequently dismissed complaints of rising prices as the invention of a hostile media, and blamed "secret networks" for rising house prices.
This year, he responded to MPs' protests over the rising price of tomatoes by urging them to visit his local greengrocer in Narmak, in east Tehran.
Mr Ahmadinejad also answered recent criticism of his policies by saying he took advice from his local butcher. "There is an honourable butcher in our neighbourhood who knows all the economic problems of the people. I get my economic information from him," he said.
Mr Ahmadinejad, an engineer with a PhD in traffic management, is on record as saying: "I pray to God I never know about economics."
That echoes a comment attributed to the late Ayatollah Khomeini, leader of Iran's 1979 Islamic revolution, who is alleged to have said: "Economics is for donkeys."
Well, this donkey specialist (that's me!) thinks that the Iranian President is a homar al alooj. No wonder his own party and MP's are kicking him nicely and tightly.
All this to be taken with a grain of piquant salt!!!
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