4 ms·
Here's the good news though: This proves that money is imaginary, and we should print up as much as we want, and do these things (in your list).
by beamatronic 5y ago
Here's the good news though: This proves that money is imaginary, and we should print up as much as we want, and do these things (in your list).
- taurath 5y agoMoney is a social construct. We create money for investment every day. Investing in the population creates returns in tax revenue. You open opportunities for wealth creation by putting down roads and train stations and modes of commerce.
- hunterb123 5y agoThe more money you print, the more imaginary it becomes, the less purchasing power it has, the more stuff costs. Inflation.
- bushbaba 5y agoThat only matters for imports. For domestic economy if inflation stays reasonable it doesn’t matter. Print away.
- hunterb123 5y agoCurrent life says that's not the case. Some of that may be supply chain issues, and they say inflation is at 5% or so, but most things have had at least a 20% price increase this year. Edit: to poster below, it varies, very noticeable if you are traveling. For your cost of living, it's noticeable over the month if you are living paycheck to paycheck. My point is don't just "print away", inflation is a tax on the poor. Car rental 87.7% (y/y change) Used cars 45.2% Gas 45.1% Laundry machines 29.4% Airfare 24.6% Moving 17.3% Hotels 16.9% Furniture 8.6% Bacon 8.4% TVs 7.6% Fruit 7.3% Shoes 6.5% Fresh fish 6.4% New cars 5.3% Milk 5.6% Rent (OER) 2.3%
- dragonwriter 5y ago> most things have had at least a 20% price increase Most things have not had anywhere close to that. The things that have draw more attention, though.
- bushbaba 5y agoCar rentals, used cars, hotels, airfare will all trend down in price over time.
- icedchai 5y agoEven if that is true, it doesn't help the average person who doesn't travel much. Their day-to-day expenses are still going up faster than wages.
- deleted 5y ago[deleted]
- swader999 5y agoThanks for including bacon.
- icedchai 5y agoCheck US inflation since the early 80's. It's 200%. For something more recent, look at US home prices over the past year. It's crazy. Food costs are also rising. Anecdotally, grocery prices have gone up quite a bit. Restaurants, too. I don't remember a large pizza costing $25 a couple years ago.
- jdlshore 5y ago> Check US inflation since the early 80's. It's 200%. It's been 40 years. Applying the rule of 72 ('cause I can't be bothered to do a more sophisticated analysis) and assuming that your "200%" means prices have doubled since then, that comes to 1.8% annual inflation. Very reasonable.
- icedchai 5y ago200% means tripled. I'm looking at https://www.usinflationcalculator.com/ https://www.usinflationcalculator.com/ Still, it's about 2.8%. Not bad, if you look at it that way. But it adds up. I know some normal tech guys with 3 or 4 million in assets. They'd barely be 80's millionaires.
- beamatronic 5y agoThe equivalent of 80's millionaire today is about $10 million
- jdlshore 5y agoIt’s still a pretty normal level of inflation. I assume 3% in my financial planning. But yes, being a millionaire isn’t what it used to be.