Reply #19: Ask Richard Nixon...

[Doctor Cynic]

...or Jimmy Carter, or the British in the 1970s, or literally thousands of other examples.

They *are* effective if rationing is required, like during wartime, but last I checked rationing food during a time of peace is not a sign of a healthy society.

There's simply no possible reason (other than the government relying on the printing press) for 30% inflation when 1) the rest of the world is entering deflation and 2) there is no massive inflow of foreign currency now that crude oil is sow low.

So many governments thought they can print money and control prices at the same time. All of them failed.