Re:Why are millennials burned out? Capitalism
by war1025 on Monday February 04, 2019 @11:37PM
(#19083052)
There is nothing stopping anyone from buying assets with their savings. I'd argue it's actually easier than ever. The problem is people have no savings. There is an underclass of people who legitimately have no ability to build savings. For the rest, they just have a broken view of the world that causes them to spend more than they bring in and build debt rather than assets.
Re:Why are millennials burned out? Capitalism
by xiphias2 on Tuesday February 05, 2019 @01:32AM
(#19083409)
The original naming of inflation meant inflating the money supply, but of course this is something.the central banks don't want people to talk about (and central banks arw tightly controlling what's taught in macroeconomy).
From Wikipedia: Historically, rapid increases in the quantity of money or in the overall money supply have occurred in many different societies throughout history, changing with different forms of money used. For instance, when gold was used as currency, the government could collect gold coins, melt them down, mix them with other metals such as silver, copper, or lead, and reissue them at the same nominal value. By diluting the gold with other metals, the government could issue more coins without increasing the amount of gold used to make them.
We have a problem in recent history because "inflation" has been defined as "consumer prices rising for basically no reason", and I'm not sure if there is a well known word for "price of assets rising for no reason", which appears to be happening (the amount of money in the economy is rising, but inflation is low).
This is distorting decision making power (and resources) away from competent people towards people who happen to own assets (who tend not to be young). It should be that assets are diverted to competent people; because incompetence should be punished with bankruptcy.