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> Before 2020 all money printing went to banks, which increased the wealth of the 1% and increased asset prices, but it didn't create inflation No inflation in
by nicoffeine 6y ago
> Before 2020 all money printing went to banks, which increased the wealth of the 1% and increased asset prices, but it didn't create inflation
No inflation in housing costs? Health care? Education? Fine art and collector car prices?
I don't think "reasonable billion dollar interest free loans to billionaires" turns into "actual helicopter money" the moment it's given to a non-billionaire.
In my opinion, this is yet another retelling of the same Weimar Republic ghost story trying to convince you that giving poor people money will lead to hyper inflation. It's total bullshit, just like trickle-down economics. The Weimar Republic collapsed because it couldn't afford to pay its war debt to other countries, or (as some scholars believe) it was done intentionally by the Weimar government so they wouldn't have to pay it back.
One hundred years later, there are dozens of other countries that have more debt to GDP ratio, where the minimum wage is a living wage, there is a strong safety net of housing/food/healthcare, and a #3 at McDonalds is not much more expensive. If you have recently seen your wage double, it's actually cheaper.
The street is always looking for the next big bet. Let's make it on every day citizens instead of the obscenely wealthy.
- zpeti 6y agoWhy are you implying I want aid for billionaires not the poor? I was making a pretty objective point about Peter Schiff's opinions, without adding any opinions of my own. So please don't turn me into the billionaire bailout supporter. I'm not and I never said such a thing.