Comment on Be nice

• yermaw@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

  if inflation were 0% for a few decades

  “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?

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  • trashgirlfriend@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    I can’t believe you’d say that about OPs mother. Downvoted, reported, enjoy ur ban kid.

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    • 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

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      • Remember_the_tooth@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

        I’m trying really hard to interpret this, but I feel like I’m missing some context.

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    • REDACTED@infosec.pub ⁨3⁩ ⁨weeks⁩ ago

      kid

      Did you just insult him? Counter-ban

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      • voodooattack@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

        But what if they’re actually a kid?

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  • 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.

    Can we just pretend I was a cunt for mild chuckles?

    Image

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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

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    • mobotsar@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

      Even bullshit essays should have a soul.

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• 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!

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  • Remember_the_tooth@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Fair enough. Thanks for taking the time to respond.

    I’m being kept tired, distracted, and poor lately as a systematic form of oppressive totalitarian rule - and that’s just from my kid!

    Hiyo! I really got a kick out of that.

    You stay brave, Little Hitachi Wave.

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    • 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.

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      • Remember_the_tooth@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

        I hear that. I take every chance I get.

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• 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.

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  • Remember_the_tooth@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    No, that sounds about right. Deflation is pretty consistently devastating.

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• 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…

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  • 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

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    • 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

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      • Remember_the_tooth@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

        Agreed. Someone else in this thread suggested that population growth was a factor. That was an interesting take. All things being equal, I would have assumed population growth would affect the magnitude of inflation, but not its direction. I think you’re right that there’s definitely some unknowns. I’m not sure I want an advanced degree in economics, but that’s what it might take to understand more.

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• 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.

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  • 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.

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    • BagOfHeavyStones@piefed.social ⁨3⁩ ⁨weeks⁩ ago

      You're welcome! I like my floss to stay the same price.

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      • Remember_the_tooth@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

        Same. I got one of those large dispensers like dentists use and the corresponding bulk rolls of the nice ribbon style floss to fill it. I only ever use the regular sizes for traveling now. Keeps costs and plastic waste down. I don’t have to think about it for years at a time. It’s a small thing, but I like it.

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• TeddE@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  🥶

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• Eq0@literature.cafe ⁨3⁩ ⁨weeks⁩ ago

  Judgemental stare

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  • Remember_the_tooth@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    I felt that like: ಠ_ಠ

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• 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.

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  • 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.

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