Jack Dorsey is warning Americans of hyperinflation.
The Twitter CEO took to his own platform on Friday to deliver the ominous warning:
Hyperinflation is going to change everything,” Dorsey said.
He added later that it would happen in the US soon, and then the world.
This comes as consumer price inflation sits at a 30-year high in the United States.
Some economic experts previously predicted that hyperinflation would hit the US back in March of this year, just as the economy started to get going again following the lockdons of 2020.
CNBC shared Dorsey's warning:
Twitter co-founder Jack Dorsey weighed in on escalating inflation in the U.S., saying things are going to get considerably worse.
“Hyperinflation is going to change everything,” Dorsey tweeted Friday night. “It’s happening.”
Here are Dorsey's tweets on hyperinflation:
Fox Business has more on the looming threat of hyperinflation:
In typical Dorsey style, the social media CEO tweeted out his comment, saying that "it will happen in the US soon, and so the world."
Hyperinflation is typically very high and accelerated inflation. Researchers have documented 57 cases of hyperinflation as of 2018, with the first recorded episode occurring between 1795 and 1796 in post-revolutionary France, according to The Economist.
Some economists and writers have looked at possible hyperinflation in the U.S. as early as March 2021 when the economy started to get back on track after an artificially depressed year due to lockdowns and immense restrictions during the coronavirus pandemic – policies that officials started reversing as vaccines became more available.
Others have chimed in on the situation as well:
Joe Biden sits at the center of this mess, as the economy has suffered greatly during the course of his administration.