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This guy is a little flashy for my taste, too much sound and fury. I also think he's missing the mark on inflation. With inflation, your/my dollar buys less th
by sdwr 5y ago
This guy is a little flashy for my taste, too much sound and fury. I also think he's missing the mark on inflation.
With inflation, your/my dollar buys less than it did a year ago. Less at the grocery store, less of a house, whatever. That sucks, right? Value being ripped from our pockets. Consider the alternative though. With a fixed money supply, a dollar buys MORE every year, as a stable percentage of an expanding pie. Then society goes to shit as the "haves" bunker down in their rooms hoarding gold coins.
Besides, economics is just one cerebral, fiddly piece in a larger human puzzle. Better not to spend the best moments of your life loving money just to find it never loved you back.
- selfhoster11 5y ago> Consider the alternative though. With a fixed money supply, a dollar buys MORE every year, as a stable percentage of an expanding pie. Then society goes to shit as the "haves" bunker down in their rooms hoarding gold coins. The rich already do this with assets that generate income faster than they depreciate in value (businesses, stocks, art, collectables). Inflation doesn't touch the rich. In practice, they are also isolated against any real-world upsets like the coronavirus, the financial crash, or Brexit. They may get slightly less rich, but they are set for their personal life. In contrast, the poor and the working class generally aren't educated enough, confident enough, or don't have the right access to take advantage of similar opportunities.