3 ms·
Wealth can't be produced out of thin air. The best way to think of it is 356% inflation that will hit us slowly. I'm this case because the printed money is go
by neonological 6y ago
Wealth can't be produced out of thin air.
The best way to think of it is 356% inflation that will hit us slowly.
I'm this case because the printed money is going to people with lower income it can be thought of as wealth transfer from richer people to poorer people. Poor people get printed cash, wealth people lose more due to inflation. Most of us as software engineers should be losing money if our wealth is stored as cash.
- hfsp 6y agoAnyone claiming money printing helps the poorer part of the population is uninformed or virtue signaling. Money printing transfers wealth overall to the asset owning class, not the bottom ~40% of Americans who do not hold assets. Research from the NY Fed and impact of money printing: https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr959.pdf https://www.newyorkfed.org/medialibrary/media/research/staff...
- neonological 6y agoGood point. Didn't think about it from this perspective. Essentially this applies to UBI as well, which is where I derived my argument.