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But when the government 'simply create more', they are not creating any more wealth. They are creating more units of currency to represent the same wealth as be

But when the government 'simply create more', they are not creating any more wealth. They are creating more units of currency to represent the same wealth as before, which eventually makes every unit of currency worth slightly less. The people who have assets in cash end up paying for it. That includes the poor who have most of their net worth in cash as they live paycheck to paycheck, and whose purchasing power has been stagnant for decades.

xapata 6y ago
If the government "prints" money and immediately distributes it uniformly to the population, it benefits the poor most of all. Especially debtors. This year was a great example. Mortgage refinancing bonanza. If inflation really takes hold, those debtors will be very happy. > And that’s not a “rich get richer” kind of thing — the poverty rate fell. And it’s no surprise. Peter Ganong, Pacal Noel, and Joseph Vavra found that under the CARES superdole, “two-thirds of UI eligible workers can receive benefits which exceed lost earnings and one-fifth can receive benefits at least double lost earnings.” https://www.slowboring.com/p/the-cares-superdole-was-a-huge-success https://www.slowboring.com/p/the-cares-superdole-was-a-huge-...