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> -Causes borrowers to get ahead of savers and lenders. Poor people tend to be borrowers. > -Allows governments to spend more than drunken sailors. Governmen
by rat87 5y ago
> -Causes borrowers to get ahead of savers and lenders.
Poor people tend to be borrowers.
> -Allows governments to spend more than drunken sailors.
Government spends stuff for people, including imopratant future investments. Also its silly to compare government spending to personal spending
> -Causes the wealth of the rich to be eroded less than the wealth of the poor (who don’t own any assets).
Except poor people are more likely to be badly in debt.
> -Erodes away the middle class and makes them feel like wage slaves.
A healthy inflation rate helps drive the economy. Loss of union power is responsible for poor and middle class not getting their fair share.
> -Caused Satoshi Nakamoto to release Bitcoin.
Isn't really useful for anything other then speculation. The fact that it's inherently deflationary prevents it from being a useful currency.
> -Isn’t stopping anytime soon.
Inflation for the year isn't likely to be much higher then normal and a constant rate of inflation is good for the economy.
- gruez 5y ago>> -Caused Satoshi Nakamoto to release Bitcoin. >Isn't really useful for anything other then speculation. The fact that it's inherently deflationary prevents it from being a useful currency. I don't think he's saying it's useful or not, just that it's a consequence of inflation. If anything he's anti-bitcoin, given that the other items on the list are mostly negative.
- BostonFern 5y agoThe whole comment is a new-old rhetorical piece erecting a pedestal to seat on a savior in a sea of the preceding enumeration of wrongs.
- BenoitEssiambre 5y agoAnd most importantly, in a situation where real production efficiency dropped because of covid 19, failing to allow prices to adjust upwards (and real wages to adjust downwards) to allow the economy to adapt to the situation would put the labor markets in a gridlock and make tons of workers unemployed/underemployed and thus much poorer. Inflation is what allows people to have jobs and contribute to productivity despite the unprecedented health crisis.
- missedthecue 5y agoCPI for the year is already past 4% and we still have 5 months to go.