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by chkdsk
2856 days ago
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This is the main issue that both the right wing gold bugs and left wing crypto anarchists don't seem to understand: Steady modest inflation is a good thing. If there was no inflation everyone would be incentivized to just hold cash under their mattress and not invest into the economy. When you put your money in a CD or money market account hoping to keep up with (or beat) inflation that money then goes to pay payroll for corporations via the commercial paper market. When you put your money into a savings account hoping to generate interest to keep up with inflation your money gets lent to local small businesses and other people to buy mortgages. Inflation creates inertia in the economy. We don't have an inflation problem. What we have is a wage growth problem. Crypto nor gold bars will ever do anything to solve that. The issue has nothing to do with currency. |
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