Re:Bitcoin is a disaster
by xapata on Friday January 01, 2021 @03:02PM
(#25606362)
If the government "prints" money and immediately distributes it uniformly to the population, it benefits the poor most of all. Especially debtors.
This year was a great example. Mortgage refinancing bonanza. If inflation really takes hold, those debtors will be very happy.
> And that’s not a “rich get richer” kind of thing — the poverty rate fell. And it’s no surprise. Peter Ganong, Pacal Noel, and Joseph Vavra found that under the CARES superdole, “two-thirds of UI eligible workers can receive benefits which exceed lost earnings and one-fifth can receive benefits at least double lost earnings.”
This year was a great example. Mortgage refinancing bonanza. If inflation really takes hold, those debtors will be very happy.
> And that’s not a “rich get richer” kind of thing — the poverty rate fell. And it’s no surprise. Peter Ganong, Pacal Noel, and Joseph Vavra found that under the CARES superdole, “two-thirds of UI eligible workers can receive benefits which exceed lost earnings and one-fifth can receive benefits at least double lost earnings.”
https://www.slowboring.com/p/the-cares-superdole-was-a-huge-...