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Yea, a truly great economics troll would reach for something like the money multiplier, law of diminishing marginal returns, or loanable funds to make such an a
by kaonashi 12y ago
Yea, a truly great economics troll would reach for something like the money multiplier, law of diminishing marginal returns, or loanable funds to make such an argument.
- adventured 12y agoOr at least touch on the rise of the modern un-backed central bank post Bretton Woods. Rich people can more easily shield their wealth from inflation than middle class or poor people can shield their wages from inflation, leading to a perpetually increasing gap between the two so long as central banks continue to use QE and inflationary schemes to fake economic growth and dilute debt. Average workers earning 1% annual wage increases don't tend to do very well when you debase their currency at over twice that rate. A good economic troll would point that out.
- kaonashi 12y agoQE wasn't/isn't inflationary (and I believe the empirics bear this out), it was a dollar for dollar swap of treasuries for reserves. If anything it is/was the opposite, removing interest income from the private sector and putting it on the FED's books (which get remitted back to the treasury). (ooh, you're goooood)