The value of your airline miles is dropping like a stone. Or, as business travel guru Joe Brancatelli recently described it to the Wall Street Journal:
“Inflating the currency and then having less product to buy and charging you fees to do it — it’s hyper-inflation,” he says. “It’s Zimbabwe.”
Hah! Great line. I love it. To quote Homer Simpson, “It’s funny because it’s true.” (Given the level of burn Joe can turn out, I’m honored that he calls me snarky.) Read Joe’s take on the situation in his Portfolio column.
I believe the WSJ piece came out before the latest hyperinflationary move from American Airlines. Soon it will take 50,000 Aadvantage miles and 1 billion Zimbabwean dollars to buy a cup of coffee.