The Julia La Roche Show · Thursday, October 1, 2026
Dr. Mark Thornton reiterates concerns about the U.S. being on an 'on-ramp to hyperinflation,' citing large national debt and the declining ability to manage it. He draws parallels to historical instances of hyperinflation in countries like Germany and Yugoslavia, warning of severe economic and societal breakdown. Thornton emphasizes that Austrian economists advocate avoiding hyperinflation at all costs due to its destabilizing effects.
“Yes, I think we are. We're looking to merge onto that highway of hyperinflation. And a lot of that relates back to the pandemic.”
“The history of hyperinflation hits countries on a fairly regular basis. And then if you go into history, the U.S. had a hyperinflation during the Revolutionary War, really during the Civil War.”
“And yet mainstream economists and economist in the government Keynesian economists in particular, but it's a general rule for mainstream economists. They've been you know, responding to Austrians saying, well, you know, we can always pay off no matter how much debt we get into, we can always pay it off because we can print money.”