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Inflation steals future opportunuties from those who save money, and it generally steals future from new generations to come. When a family opens a bank account
by ghostwriter 6y ago
Inflation steals future opportunuties from those who save money, and it generally steals future from new generations to come. When a family opens a bank account for their newborn child to use it for paying for their higher education, they do it in a hope that this money will preserve its value.
- toomuchtodo 6y agoThis is how the modern economy appears to work. There is no guarantee of return on capital, or that capital must hold its value. https://www.visualcapitalist.com/700-year-decline-of-interest-rates/ https://www.visualcapitalist.com/700-year-decline-of-interes... https://www.stlouisfed.org/publications/regional-economist/fourth-quarter-2017/central-banks-negative-interest-rates https://www.stlouisfed.org/publications/regional-economist/f...
- ghostwriter 6y agoBut this just states the current situation, when paper is being printed without any relation to material implementation of the value that it's supposed to represent. The fact doesn't justify the policy. Economy depends on producers of value, not on a printing press. I can exchange values without a means of paper.