4 ms·
Inflation is not theft. If you genuinely believe that: 1) Please use a deflationary currency (like bitcoin) for all your transactions. 2) Study the impact of
by AFNobody 9y ago
Inflation is not theft.
If you genuinely believe that:
1) Please use a deflationary currency (like bitcoin) for all your transactions.
2) Study the impact of deflation on Japan. Or the deflations in the US that almost always coincided with a depression with one (arguable) exception. Keep in mind, that arguable exception was one of half a dozen such events.
- dnautics 9y agoCorrelation is not causation. your arrow of causality is wrong. Of course deflations are correlated with modern economic contractions. In the era of central banking, contractions happen after the social capacity for debt has been stretched to the limit because tptb have tried to goose the economy too hard, and defaults exceed the rate of debt creation, leading to a contraction of the money supply. I suggest studying the free banking era and the us during the 1800s. How did the country ever survive without inflation??? They even managed to royally screw things up with a civil war and a completely insane bimetallic standard, without implosion. I suggest you study the effect of inflation on Japan. How's that lost decade going? Well, at least we got a lot of pansocial angst among the < 30 crowd (and some interesting anime) out of it.