| >Well, this was the narrative up until 2008. It's still the narrative. 2008 was the biggest since the GD in 1929. Here's a list [1] of all US recessions. There's no question volatility has been reduced since the introduction of the Fed. And the same has been demonstrated in dozens countries. >80 million turks have lost 80% of the value of their cash savings - 40 million argentines have lost 90% of the value of their cash savings - 30 million venezuelans have lost 99% of the value of their cash savings And billions of people have not lost their savings, and billions have been removed from poverty. Cherry picking outliers does not make your case very persuasive. There's 7+B people on the planet. Demonstrate that your tiny number is worse than before central banking then you will have some room to complain. The vast literature on this shows the evidence to be otherwise. >Even the US rate of inflation is likely double what the official measures are. Yeah, this is nonsense, propagated by places like ShadowStats. There are ample other groups measuring inflation, such as the Billion Prices Project [2], and they obtain the same numbers. If inflation were lied about, there would be ample ways to game various commodities and make a pretty hefty profit. Yet no one I've known in trading has ever heard of such a thing, despite many people trying to do so. And the most compelling way is you can check it yourself. Take BLS reported inflation for the past few decades. Pick a basket of goods similar to theirs. Measure local prices in a spreadsheet. Now go to your local library or the web and find old ads from decades ago, which is easy to do now. Compute the basket value then. Even a percent off over a few decades would vastly skew prices. I've done this legwork out of debunking ShadowStats to someone I know that believes their nonsense. You can do it, and disabuse yourself of such unsubstantiated conspiracy nonsense. >Many other countries have high single digit or double digit true rates of inflation. ... You think this is good? Yes, it's better than a deflationary spiral. Single digit inflation, if somewhat stable, is vastly better than previous boom bust cycles. [1] https://en.wikipedia.org/wiki/List_of_recessions_in_the_Unit... [2] http://www.thebillionpricesproject.com/ |
Time will tell who is correct.