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If you have assets and debt (and a job that will actually pay well, keep up with inflation), money printing is awesome for you! If you're in the majority of pe

If you have assets and debt (and a job that will actually pay well, keep up with inflation), money printing is awesome for you! If you're in the majority of people who don't have those things, life just gets harder and wealth gap keeps getting larger and larger.

prewett 5y ago
> If you're in the majority of people who don't have those things ... Home ownership in the US is around 65% [0], so the majority do have an asset and mortgage. There are also some people who choose not to own a house but have other types of assets. Things really aren't as dire as you seem to think. And for those people who actually are harmed by inflation, I think the consensus is that they would be harmed by the other option--deflation--even more, mostly because the disincentive to invest leads to fewer employment opportunities. The Great Depression, a deflationary environment, was not good times. [0] https://en.wikipedia.org/wiki/Home-ownership_in_the_United_States https://en.wikipedia.org/wiki/Home-ownership_in_the_United_S...
- IHLayman 5y ago
  From your Wikipedia article: “ The name "home-ownership rate" can be misleading. As defined by the US Census Bureau, it is the percentage of homes that are occupied by the owner. It is not the percentage of adults that own their own home. This latter percentage will be significantly lower than the home-ownership rate. Many households that are owner-occupied contain adult relatives (often young adults, descendants of the owner) who do not own their own home. Single building multi-bedroom rental units can contain more than one adult, all of whom do not own a home.” According to the US Census in 2020, 139.68 million homes in the US with a 64% owner-occupied rate means 89.395 million homes are owner occupied. Let’s say 85% of those are dual-owned (by couples) which I could not get a solid statistic on but several policy websites seem to cite, and we will assume the other 15% are single owners. Then about 165 million people either own or partially own the house they live in, or roughly 50% of the population. That is the slimmest of majorities, far less than the 65% implies. [0] https://www.census.gov/quickfacts/fact/table/US/PST045219 https://www.census.gov/quickfacts/fact/table/US/PST045219
- rawtxapp 5y ago
  Majority of Americans live paycheck to paycheck, if that's not dire, I don't know what is.

prewett 5y ago

> If you're in the majority of people who don't have those things ... Home ownership in the US is around 65% [0], so the majority do have an asset and mortgage. There are also some people who choose not to own a house but have other types of assets. Things really aren't as dire as you seem to think. And for those people who actually are harmed by inflation, I think the consensus is that they would be harmed by the other option--deflation--even more, mostly because the disincentive to invest leads to fewer employment opportunities. The Great Depression, a deflationary environment, was not good times. [0] https://en.wikipedia.org/wiki/Home-ownership_in_the_United_States https://en.wikipedia.org/wiki/Home-ownership_in_the_United_S...

IHLayman 5y ago
From your Wikipedia article: “ The name "home-ownership rate" can be misleading. As defined by the US Census Bureau, it is the percentage of homes that are occupied by the owner. It is not the percentage of adults that own their own home. This latter percentage will be significantly lower than the home-ownership rate. Many households that are owner-occupied contain adult relatives (often young adults, descendants of the owner) who do not own their own home. Single building multi-bedroom rental units can contain more than one adult, all of whom do not own a home.” According to the US Census in 2020, 139.68 million homes in the US with a 64% owner-occupied rate means 89.395 million homes are owner occupied. Let’s say 85% of those are dual-owned (by couples) which I could not get a solid statistic on but several policy websites seem to cite, and we will assume the other 15% are single owners. Then about 165 million people either own or partially own the house they live in, or roughly 50% of the population. That is the slimmest of majorities, far less than the 65% implies. [0] https://www.census.gov/quickfacts/fact/table/US/PST045219 https://www.census.gov/quickfacts/fact/table/US/PST045219
rawtxapp 5y ago
Majority of Americans live paycheck to paycheck, if that's not dire, I don't know what is.