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"Inflation benefits you unless you're in the top 1 percent." Not really - inflation generally means wages go down relative to wages and those who spend a highe
by jariel 6y ago
"Inflation benefits you unless you're in the top 1 percent."
Not really - inflation generally means wages go down relative to wages and those who spend a higher portion of their income on 'stuff' are generally worse off.
Inflation is targeted at 2% to keep a tiny bit of wage deflation in the economy, and to stay safely away from deflation which is a little scarier.
- imtringued 6y agoThere is an obvious problem with the Fed and ECB going overboard with crazy policies. I mean come on, it's pretty laughable that these giant institutions are unable to do their job. They should be a laughing stock and people should stop taking them seriously because they can't even do something as simple as hit 2% inflation.
- jariel 6y agoYes, all the best bankers in the world are idiots? They are not idiots, the only question is strategy. Inflation is actually in check, which is odd because they are spending a lot. The concern right now is not inflation or deflation, it's the amount they are spending and the huge amounts on their balance sheet. That's the worry.