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"Overall, since invention of Fed, dollar lost like 97% of its purchasing power (meaning, all that purchasing power was relocated to those who are friends with t
by scilro 12y ago
"Overall, since invention of Fed, dollar lost like 97% of its purchasing power (meaning, all that purchasing power was relocated to those who are friends with the Fed)."
Please open a book and learn how compounding works. There are no "shenanigans" here, rather, widespread consensus that 2% inflation year on year is quite healthy, in spite of your disingenuous attempt to overdramatize it.
- chisleu 12y agoIn spite of your angry post, I'm going to be civil. Because we as humans deserve it. The "widespread consensus" isn't that "2% annual inflation" is healthy. It is that it is the best way to increase GDP because it encourages people to invest rather than sit on funds. If we didn't have inflation, it wouldn't be an automatic tax (or mandatory enlistment) for the poor to trust their savings to the stock market. It wouldn't inflate the stock market above their actual value and cause additional risky investments and otherwise poor investments by the masses who wouldn't HAVE TO be a part of the system otherwise. It isn't "healthy" for everyone. It certainly isn't healthy for people who have to take out money when the system is way down... Get over your anger issues. This isn't reddit. :)
- deleted 12y ago[deleted]
- chisleu 12y agoI disagree for reasons I've already stated and you ignored in your response.
- saalweachter 12y agoI agree; deleting poor response.