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The gold standard makes no sense whatsoever, you want the money supply to be able to grow with the economy. Printing loads of money is bad, but a deflationary s
by schnitzelstoat 2y ago
The gold standard makes no sense whatsoever, you want the money supply to be able to grow with the economy. Printing loads of money is bad, but a deflationary spiral due to a fixed money supply is even worse.
- kibwen 2y agoThese chuckleheads have had their brains reduced to scrambled egg by decades of propaganda telling them that inflation is solely caused by "printing money", while failing to apply even the Econ 101 lesson that the value of a dollar is subject to supply and demand, and holding supply constant means that the value will vary based on demand.
- desumeku 2y agoWhen was the last time we had a deflationary spiral? The 1930s? And how long has kenyesian inflationism been trying to "fix" this issue? And exactly how many global economic crashes have happened under the system that is supposed to prevent them? Additionally, exactly how much damage has been caused by the destruction and pilfering of the dollar's value, and exactly how much good has inflationism done to offset that? Judging by how harshly everyone speaks about wanting to behead billionaires in the streets, I would say that things have "gone bad", in very light terms.