You’re right except for the printing money thing. Don’t ruin a good idea by planting it in shit.
Comment on We won’t fix inflation while economists stay in denial about its causes
bastion@feddit.nl 1 year ago
The inflation is, quite simply, because we’ve been printing money since the early 2000’s, and the shit hits the fan eventually. Every time any company fails due to massive corruption, it’s bought out with printed money. …that, and, the covid “please don’t riot” checks. Fiscal irresponsibility and corruption, plain and simple.
Free market capitalism is a myth - capitalism doesn’t work without a separation of corporate and government interests, and in free market capitalism, the government gets bought.
MotoAsh@lemmy.world 1 year ago
bastion@feddit.nl 11 months ago
Sshhh… …you had me at “you’re right.”
somethingsnappy@lemmy.world 1 year ago
You couldn’t be more wrong. It’s all about debt. You think inflation is worse than debt and payment on debt and how easy it is to get into debt and never recover?
bastion@feddit.nl 11 months ago
‘Fiscal irresponsibility’ = debt. Inflation is just from the gov’t printing money to buy our way out of the debt, and distribute the debt to the whole system.
The problem is, the underlying debt isn’t paper. It isn’t even gold. It’s ultimately borrowed from actual material resources, and systems of nonmonetary wealth. …and that kind of debt can’t be printed away.
When those systems of material resources and nonmonetary wealth run dry, they’ll continue printing until the value of the money is less than the paper it’s printed on.
So, it’s not a matter of “it’s all about inflation and not about debt.” It’s a matter of debts that will be paid by natural law, coming due in the form of inflation.
somethingsnappy@lemmy.world 11 months ago
Oh God, are you an armchair economist? Speaking as a scientist. Whoah.
bastion@feddit.nl 11 months ago
yawn