If you look at lessons from hyperinflation episodes then there are great fortunes made, the poor are still poor and the middle class get decimated. So it matters greatly what strategies you employ.
You said it well, Andrew.
The Argentinian crisis, which is so recent in my mind but probably before Ausprop's age of awareness, decimated their middle class, as did the Wienmar hyper-inflation in Germany and every other major upheval around the world. This is of no concern to the super-rich. If it were they would run their country differently. LOL
Sorry to be a bit long winded on this, but I must explain the generational gaps. Last month I posted that my baby was turning 40, which means I am of Ausprop's parent's generation. But Dad was 50 when I was born. This means that I am just one generation removed from that terrible, turbulent first half of the last century, while he is, most likely, three removed.
My Dad fought in the trenches in France during the Great War, became a widower/parent when his wife died in child-berth and then survived the depression and WWII. The crazy B even tried to join up again!
So if you ask me if sh!t can happen again, my answer would be "It's overdue." A few good years, or decades, don't indicate the suspension of history.
BTW, Jim Rogers (retired
rich in his early 30's) was a keen student of history.