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Economy

On The Threshold Of A New Era Of Global Inflation

Rising prices in the developing world will eventually usher in a whole new paradigm on global currency markets.

A market in Bangalore
A market in Bangalore
Frank Stocker

BERLIN - You have been hoarding money. You purchased real estate. You’ve invested in Swiss francs. All of this you've done to stave off the spectre of inflation, because we've watched how national banks have been printing money for years, as never before.

And then last week the European Central Bank announced that record-low interest rates would be staying low for years to come. In the opinion of the many currency depreciation prophets out there, that means that sooner or later we’re looking at a second 1923 -- an era of hyperinflation, and we’ll soon be using billion or trillion Euro notes. The problem, however, is this: the presses have been churning out money for five years now, and there’s been no explosion in prices, not even a little. Inflation, experts tell us, simply is not coming.

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Ideas

The Trauma Of War, A Poisoned Guide For Parenting

As a psychoanalyst, Wolfgang Schmidbauer has researched the psychological effects of war on children — and in the process, also examined his own post-War childhood in Germany. In this article, he warns that parents tend to use their experiences of suffering as a method of education, with serious consequences.

Parents traumatized by war make their own experiences of suffering a core principle of education.

Wolfgang Schmidbauer*

As a young married civilian, British poet Robert Graves describes his mental state after World War I. "Shells used to come bursting on my bed at midnight, even though Nancy shared it with me," he wrote in Goodbye to All That, his wartime biography. "Strangers in daytime would assume the faces of friends who had been killed."

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