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So your advocating stealing from those who are responsible (savers) and giving money to those who are reckless (debtors). Also, when inflation happens it norma
by dantheman 16y ago
So your advocating stealing from those who are responsible (savers) and giving money to those who are reckless (debtors). Also, when inflation happens it normally hurts the middle class and lower class much more than upper do the lower classes not owning assets - stock/land etc.
- Retric 16y agoPeople who hold cash != savers. Plenty of people with significant equity in their home still have negative cash positions for most of their lives regardless of the amount of money they save. On the other hand people that short stock can have significant cash holdings without saving anything.
- jquery 16y agoTo the extent that home has intrinsic value, the homeowner is saving. To the extent it gains value against the dollar it transfers wealth from non-homeowners. In fact this is the express goal of the current Fed policy.
- yequalsx 16y agoIreland faces a situation of genuine societal collapse. The unemployment, lack of social services, etc. affect everyone regardless of who is a saver or not. I'm advocating that in a dire situation the best course of action be taken. In Ireland's case that would be devaluing the currency. There is too much public debt and raising taxes, lowering pay are not viable solutions.