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by da-x
45 days ago
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Third solution is "taxation through inflation" in which the official inflation is 4%, the unofficial one is 10%, interest rates kept low, and over a few decades the debt gets nominally trimmed down against a nominally rising GDP. Real GDP growth will even accelerate this. Owners of assets that are not real-inflation protected (such as the debt owners) see their asset value go down ; people who have no net equity see their salary go up, but only in nominal value ; people who hold real-inflation protected assets that also distribute dividends are the winners in this. |
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