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Interest rates need to return to 5% (perhaps more temporarily). Of course this will trigger an asset price collapse. Fiscal policy should then be used to ensure

Interest rates need to return to 5% (perhaps more temporarily). Of course this will trigger an asset price collapse. Fiscal policy should then be used to ensure that it is the rich who carry the burden, to result in a society with a fairer distribution of wealth.

exabrial 5y ago
> a fairer distribution of wealth This is such a stupid assertion that keeps getting repeated. The sum of free choices is a fair distribution. People aren't getting robbed at gunpoint; they're _giving_ their wealth to the rich. Bezos is a zillionaire because people literally gave him all his money_.
- sschueller 5y ago
  Sorry but that is inaccurate. The deck is stacked in favor of Bezos and others. Your choice to not buy from Amazon is rapidly decreasing when alternatives just can't complete in an unfair market. People are giving their money to Amazon or Walmart because they have no alternatives left or can't afford what alternatives still exist.
  - exabrial 5y ago
    The deck is stacked for every American or western country. If you're posting on HN, you likely live an extraordinarily privileged life compared to the vast majority of earth's population. Instead of complaining about Bezos, how about you ask yourself what you're doing to help those in need?
- dotopotoro 5y ago
  Definition of “fair” is similar to definition of “random”. Both terms are very ambiguous, unless qualification is provided. Random variables can have many distributions e.g. Poisson, Gaussian, uniform. I don’t know names of categories of “fairness”, but clearly you and GP have different meanings for the same word. On one end of the spectrum seems to be: “fair == same end result” -> effort and luck should not matter, not in the slightest. On the other end of the same spectrum: “fair = same system/rules” -> you could have racketeered more people to get more money and bought a bigger gun to stay alive. Both definitions of “fair” are equally valid, the choice of the definition is subjective.
exolymph 5y ago
[crying in Cantillon Effect]
UncleOxidant 5y ago
The Fed rate probably needs to be around 7% right now. We need to take the Paul Volcker medicine. Yes, there are side effects to this prescription and things will suck for a couple of years, but it's the proven way to quell inflation.
exabrial 5y ago
Do you really think giving everyone $5000 is going to make a "fair distribution of wealth"? This statement shows a lack of even basic math skills. Some homework for you: Take Bezos entire fortune, plus Elon Musk's, and for fun... Trump's. Hell throw another of the top 50 billionaires in. Divide that by the US population.

exabrial 5y ago

> a fairer distribution of wealth This is such a stupid assertion that keeps getting repeated. The sum of free choices is a fair distribution. People aren't getting robbed at gunpoint; they're _giving_ their wealth to the rich. Bezos is a zillionaire because people literally gave him all his money_.

sschueller 5y ago
Sorry but that is inaccurate. The deck is stacked in favor of Bezos and others. Your choice to not buy from Amazon is rapidly decreasing when alternatives just can't complete in an unfair market. People are giving their money to Amazon or Walmart because they have no alternatives left or can't afford what alternatives still exist.
- exabrial 5y ago
  The deck is stacked for every American or western country. If you're posting on HN, you likely live an extraordinarily privileged life compared to the vast majority of earth's population. Instead of complaining about Bezos, how about you ask yourself what you're doing to help those in need?
dotopotoro 5y ago
Definition of “fair” is similar to definition of “random”. Both terms are very ambiguous, unless qualification is provided. Random variables can have many distributions e.g. Poisson, Gaussian, uniform. I don’t know names of categories of “fairness”, but clearly you and GP have different meanings for the same word. On one end of the spectrum seems to be: “fair == same end result” -> effort and luck should not matter, not in the slightest. On the other end of the same spectrum: “fair = same system/rules” -> you could have racketeered more people to get more money and bought a bigger gun to stay alive. Both definitions of “fair” are equally valid, the choice of the definition is subjective.

exolymph 5y ago

[crying in Cantillon Effect]

UncleOxidant 5y ago

The Fed rate probably needs to be around 7% right now. We need to take the Paul Volcker medicine. Yes, there are side effects to this prescription and things will suck for a couple of years, but it's the proven way to quell inflation.

exabrial 5y ago

Do you really think giving everyone $5000 is going to make a "fair distribution of wealth"? This statement shows a lack of even basic math skills. Some homework for you: Take Bezos entire fortune, plus Elon Musk's, and for fun... Trump's. Hell throw another of the top 50 billionaires in. Divide that by the US population.