3 ms·
I agree with everything, and I do think it has turned out to be oppressive. Inflation is forced onto people to erode their wealth, to ensure they all work, and
by meric 10y ago
I agree with everything, and I do think it has turned out to be oppressive. Inflation is forced onto people to erode their wealth, to ensure they all work, and prevent their ability to accrue savings. The low interest rate ceiling is an asset transfer from labor to capital, removing the ladder that lets people with low wealth climb up in financial status. There is more oppression with the Fed in control of the financial markets, than without.