The genie just made 1 US Dollar equal to 1 Australian dollar. One problem solved, another created.
Comment on Be nice
Gradually_Adjusting@lemmy.world 3 weeks ago
Henceforth, $1 shall cost $1. Inflation solved.
GlendatheGayWitch@lemmy.world 3 weeks ago
MacNCheezus@lemmy.today 3 weeks ago
A dollar always costs one dollar. What changes is the price of goods.
Gradually_Adjusting@lemmy.world 3 weeks ago
Don’t make me tap the sign
MacNCheezus@lemmy.today 3 weeks ago
The sign now costs $1.
RizzRustbolt@lemmy.world 3 weeks ago
At least the sign only cost a dollar though.
Gradually_Adjusting@lemmy.world 3 weeks ago
Still worth it
icelimit@lemmy.ml 3 weeks ago
Shrinkflation
Remember_the_tooth@lemmy.world 3 weeks ago
Sarcasm acknowledged. If it were possible, what do you think the world would look like if inflation were 0% for a few decades? I hope this is a fun conversation. If not, I’ll settle for another joke, amusing anecdote or icy silence with a judgmental stare.
yermaw@sh.itjust.works 3 weeks ago
“You obviously know nothing of how the real world works.”
Was going to type a whole bullshit essay with random made up stats and facts to make your idle question look malicious and uninformed, but I just cant be arsed. Can we just pretend I was a cunt for mild chuckles?
trashgirlfriend@lemmy.world 3 weeks ago
I can’t believe you’d say that about OPs mother. Downvoted, reported, enjoy ur ban kid.
tetris11@lemmy.ml 3 weeks ago
In their defence, they raised several valid points about the Sears tower and that musical number about My Little Pony and eugenics made my heart swell
REDACTED@infosec.pub 3 weeks ago
Did you just insult him? Counter-ban
Remember_the_tooth@lemmy.world 3 weeks ago
I got the same macroeconomics education as a lot of people. I get why 2% inflation is a common target. I do, however, like thought experiments using extreme values.
I wouldn’t say it’s a particularly idle question by social media standards. Admittedly, that’s a pretty low bar. Perhaps I am uniformed. I’m definitely not being malicious.
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tromars@feddit.org 3 weeks ago
Bullshit essays for a joke are one of the few legit use cases for LLMs imo
mobotsar@sh.itjust.works 3 weeks ago
Even bullshit essays should have a soul.
Gradually_Adjusting@lemmy.world 3 weeks ago
I’d enjoy the topic at a less busy time of life. I’m being kept tired, distracted, and poor lately as a systematic form of oppressive totalitarian rule - and that’s just from my kid!
Remember_the_tooth@lemmy.world 3 weeks ago
Fair enough. Thanks for taking the time to respond.
Hiyo! I really got a kick out of that.
You stay brave, Little Hitachi Wave.
Gradually_Adjusting@lemmy.world 3 weeks ago
You did say jokes were one of the options, and I didn’t get nearly funny enough to cope with my trauma by skipping a chance to get silly.
dream_weasel@sh.itjust.works 3 weeks ago
The world economies slow down probably.
At negative inflation there is no incentive to spend your money because is becomes increasingly valuable the longer you hold it. With high inflation, there’s incentive to spend because the longer you keep your money in the mattress the less it’s worth to you.
At zero it just is, but that’s less than the usual goal of a couple percent of inflation year over year.
Or maybe I’m full of shit idk.
Remember_the_tooth@lemmy.world 3 weeks ago
No, that sounds about right. Deflation is pretty consistently devastating.
Eq0@literature.cafe 3 weeks ago
The assumed reason for inflation, as I understand it, is that on one hand things devalue over time and on the other we build our system around infinite growth and rewarding innovation (many asterisks here…)
During the Middle Ages, neither statements were considered true, the world was considered stagnant and there was virtually no inflation. That was before the banking system - so with 0% inflation i would expect the banks to collapse…
And then… I don’t know! Stuff is hard and economics harder…
Remember_the_tooth@lemmy.world 3 weeks ago
Thanks for the response. You gave me a lot to think about, so I opened the Wikipedia article on fiat money. The part on history was pretty cool:
Link
Eq0@literature.cafe 3 weeks ago
Indeed very interesting. Honestly, it still seems that the reason for inflation is “not backed by real good and something else we don’t quite understand”, in particular considering the examples of bills of credit in North America
BagOfHeavyStones@piefed.social 3 weeks ago
Most cryptos are deflationary. That seems to cause hoarding.
Having no inflation sounds good to me if paired with no growth in population, but I know little about economics.
Remember_the_tooth@lemmy.world 3 weeks ago
I wasn’t even considering crypto. Thanks for the insightful example.
That’s an interesting point. I wonder what it would look like if inflation were targeted to population growth percentage rather than a fixed number.
BagOfHeavyStones@piefed.social 3 weeks ago
You're welcome! I like my floss to stay the same price.
TeddE@lemmy.world 3 weeks ago
🥶
Eq0@literature.cafe 3 weeks ago
Judgemental stare
Remember_the_tooth@lemmy.world 3 weeks ago
I felt that like: ಠ_ಠ
explodicle@sh.itjust.works 3 weeks ago
Time preferences would be lengthened due to lower interest rates. People would save instead of taking on more debt. It would be harder to get a loan, but your real interest rate would be lower.
Instead of deliberately encouraging consumption, everyone would buy less stuff. This would be terrible for “the economy” (rich people) but great for people who live in the environment.
Remember_the_tooth@lemmy.world 3 weeks ago
That makes sense. It sounds like the closer to zero it gets the better. I know deflation is problematic. I wonder how close to zero is achievable. We’ve seen stable inflatuon of about three percent, plus or minus two for a few years in the past. I wonder if it’s possible to achieve two percent, plus or minus one without going under zero.