Comment on We won’t fix inflation while economists stay in denial about its causes
somethingsnappy@lemmy.world 10 months agoYou 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 8 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 8 months ago
Oh God, are you an armchair economist? Speaking as a scientist. Whoah.
bastion@feddit.nl 8 months ago
yawn