5 ms·
Only if it isn't offset by raw economic growth.
by Workaccount2 3y ago
Only if it isn't offset by raw economic growth.
- benreesman 3y agoTechnically incorrect in nitpick ways but substantially the best intuition: the job of politicians and regulators rounds to: “match the growth of the money supply to people using skills to generate yet another round of speculative but self-fulfilling growth projections with the least amount of dumb rich kids having important jobs”. To me at least, this sounds like a hard job in Athens with the Bundesbank pardon the ECB breathing down your neck, and a trivially easy job in Washington DC where you can physically destroy anyone who disagrees with your assertions about the value of anything. Unfortunately the actual job has become: “maximize class solidarity at any cost up to and including arbitrary bloodshed”.