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> For the poor person inflation sucks but you’re not holding onto the money to it depreciates less, unless your hourly rate isn’t going up enough to keep up. T

> For the poor person inflation sucks but you’re not holding onto the money to it depreciates less, unless your hourly rate isn’t going up enough to keep up. This is the real problem. All of this newly-created money is put in the hands of the finance sector first, and wages are therefore much slower to inflate than financial assets (including housing). If there really is a benefit to the money creation, we should put the new money in the hands of real people first. We don't obviously, because people aren't in charge, capital is.

mrguyorama 4y ago
We also don't because a lot of those poor people have decided or been taught that giving money directly to poor people "doesn't work" or makes them "lazy" and so they vote for politicians who don't give money to poor people.
- mc32 4y ago
  If there is one thing the pandemic has illustrated for me it’s that half of everyone is lazy and will do just about the least required. From your custodian to CEO and in between. There are exceptions everywhere but a great bulk are lazy and are not pursuing their true passion either. As Jimmy Carter said “malaise”.
  - dolni 4y ago
    I think I'd frame it as: lots of people are lazy much of the time. What's really important here though is that some people can actually produce meaningful value as an employee, and others can't. For those who can, the question becomes "how often do they do it?" I am sure everyone has encountered a person who just can't get their shit together and get something done. That could be a negative-value tech employee or someone at McDonald's who just can't get a simple order right. I think only a very few of them absolutely CAN'T do better. Many can, but won't. And we absolutely should not be showering those people with free money made on the backs of people who worked for it.

mrguyorama 4y ago

We also don't because a lot of those poor people have decided or been taught that giving money directly to poor people "doesn't work" or makes them "lazy" and so they vote for politicians who don't give money to poor people.

mc32 4y ago
If there is one thing the pandemic has illustrated for me it’s that half of everyone is lazy and will do just about the least required. From your custodian to CEO and in between. There are exceptions everywhere but a great bulk are lazy and are not pursuing their true passion either. As Jimmy Carter said “malaise”.
- dolni 4y ago
  I think I'd frame it as: lots of people are lazy much of the time. What's really important here though is that some people can actually produce meaningful value as an employee, and others can't. For those who can, the question becomes "how often do they do it?" I am sure everyone has encountered a person who just can't get their shit together and get something done. That could be a negative-value tech employee or someone at McDonald's who just can't get a simple order right. I think only a very few of them absolutely CAN'T do better. Many can, but won't. And we absolutely should not be showering those people with free money made on the backs of people who worked for it.