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Uh, because they're stealing the purchasing power that I worked hard to obtain, and then using it to bail-out debtors without my consent. Also, I don't really

Uh, because they're stealing the purchasing power that I worked hard to obtain, and then using it to bail-out debtors without my consent. Also, I don't really care what the price of a "general basket of goods and services" is (whatever that means). I care about the prices of the specific things that I want now or will want in the future. Edit: And I would say my personal CPI seems to track money supply inflation pretty closely.

AnimalMuppet 5y ago
> because they're stealing the purchasing power that I worked hard to obtain... "Purchasing power" is exactly CPI inflation, not monetary inflation. > And I would say my personal CPI seems to track money supply inflation pretty closely. This I can buy. If the CPI figures are wrong, then we need to get ones that are right. But CPI inflation is still the one we actually care about. Why should we not care about monetary inflation? Well, say the population doubles. Either the monetary supply has to double, or each dollar is worth twice as much. (In case you think "that sounds good": it stinks if, say, you owe a mortgage and each dollar you pay back is twice as valuable.) Yes, I know that's not why the monetary supply inflated over the last 15 years. The point stands: CPI inflation is the one that actually affects us.
- louloulou 5y ago
  > The point stands: CPI inflation is the one that actually affects us. If your only purpose in life is to be a "consumer", sure. But changes in relative purchasing power between people also distort you're ability to affect the world. Increasing purchasing power of a bank or home owner relative to a saver through policy decisions increases their power to affect the world relative to the saver. This ability to arbitrarily choose winners and losers is not what you want in a monetary system IMO. Edit: ability to affect the world as well as freedom to act, since you can substitute money for your own time.
lottin 5y ago
I'd argue that the only person stealing purchasing power from you is yourself. Read some books, get an education, have ambition, work hard, take care of yourself. If you did that, instead of blaming others for your failures, your purchasing power would be fine.
- louloulou 5y ago
  My purchasing power is fine, because I became a bitcoiner. I was pretty angry during the financial crisis though, and am letting it come through in this thread.
  - lottin 5y ago
    Are you sure? How old were you in 2008?

AnimalMuppet 5y ago

> because they're stealing the purchasing power that I worked hard to obtain... "Purchasing power" is exactly CPI inflation, not monetary inflation. > And I would say my personal CPI seems to track money supply inflation pretty closely. This I can buy. If the CPI figures are wrong, then we need to get ones that are right. But CPI inflation is still the one we actually care about. Why should we not care about monetary inflation? Well, say the population doubles. Either the monetary supply has to double, or each dollar is worth twice as much. (In case you think "that sounds good": it stinks if, say, you owe a mortgage and each dollar you pay back is twice as valuable.) Yes, I know that's not why the monetary supply inflated over the last 15 years. The point stands: CPI inflation is the one that actually affects us.

louloulou 5y ago
> The point stands: CPI inflation is the one that actually affects us. If your only purpose in life is to be a "consumer", sure. But changes in relative purchasing power between people also distort you're ability to affect the world. Increasing purchasing power of a bank or home owner relative to a saver through policy decisions increases their power to affect the world relative to the saver. This ability to arbitrarily choose winners and losers is not what you want in a monetary system IMO. Edit: ability to affect the world as well as freedom to act, since you can substitute money for your own time.

lottin 5y ago

I'd argue that the only person stealing purchasing power from you is yourself. Read some books, get an education, have ambition, work hard, take care of yourself. If you did that, instead of blaming others for your failures, your purchasing power would be fine.

louloulou 5y ago
My purchasing power is fine, because I became a bitcoiner. I was pretty angry during the financial crisis though, and am letting it come through in this thread.
- lottin 5y ago
  Are you sure? How old were you in 2008?