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It's also them you have to thank for 40 years of not having massive inflation, which was a pretty regular thing in earlier times. (And yes, they absolutely do
by notahacker 4y ago
It's also them you have to thank for 40 years of not having massive inflation, which was a pretty regular thing in earlier times.
(And yes, they absolutely do prefer the high inflation outcome from a fuel supply shock following a COVID shock to the raise interest rates and crash the global economy like 2008 outcome. That much is a policy choice)
- yucky 4y agoWhy does middle class wealth destroying inflation go hand in hand with fractional reserve banking?
- notahacker 4y agoIt doesn't. Developed countries had more periods of 9% inflation in metallic standard eras and the middle classes have long avoided holding the majority of their wealth as cash.