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Close, but inflation also makes Americans poorer. Global asset holders (US included) are just fine as the dollar cost simply rises against the asset. Holders
by psychlops 2y ago
Close, but inflation also makes Americans poorer. Global asset holders (US included) are just fine as the dollar cost simply rises against the asset. Holders of dollars will lose value. Holders of dollar denominated debt (mortgages) are winners.
The US Government does gain a lot of wealth doing this, but it doesn't necessarily trickle down to Americans or American companies.
- PittleyDunkin 2y ago> but it doesn't necessarily trickle down to Americans or American companies. It absolutely does go to american companies—that's the entire point of the privatization movement america's been experiencing the last forty years. It's much more difficult to articulate how this reaches americans and builds actual wealth, though, and certain industries benefit more highly from being basically a private form of government (the defense industry, finance, airlines, critical tech companies, etc) than others. If americans want to reap any windfalls from their "economy" (whatever americans even think that is—as best I can tell it functions in political discourse essentially the same way the Pontifex Maximus performing an augury functioned in ancient Rome) they're going to have to start demanding more concrete things than "jobs" and "stock performance" and "real estate markets".
- dr-detroit 2y agoHow about less H1Bs massuh or is dat too much ta ask of da rich boss families?