It is difficult for most Americans to imagine what it is like to live in a country where the inflation rate is that high. An example may help. For one reason or another, you put the money away in a closet or under a mattress and forget it until, let's say, a year later. This is what inflation does to money. Its effect on the lives of the people who are forced to use that money is even more devastating.
Inflation is theft.
When one lives in a country like this, saving money, even for one day, makes no sense. If money received today is not spent today, it will be worth three per cent less tomorrow and another three per cent less the next day. And so people who do have money in such a society are forced to spend valuable time and energy trying to find ways to preserve some value to their money. Mike Wallace spent some of the time in his segment focusing on one very poor Brazilian family. There was no man in the house.