Re:Bitcoin not for me, says Bill Gates
by imtringued on Friday February 26, 2021 @03:04PM
(#26279229)
There is an obvious problem with the Fed and ECB going overboard with crazy policies. I mean come on, it's pretty laughable that these giant institutions are unable to do their job. They should be a laughing stock and people should stop taking them seriously because they can't even do something as simple as hit 2% inflation.
Yes, all the best bankers in the world are idiots?
They are not idiots, the only question is strategy.
Inflation is actually in check, which is odd because they are spending a lot.
The concern right now is not inflation or deflation, it's the amount they are spending and the huge amounts on their balance sheet. That's the worry.
Not really - inflation generally means wages go down relative to wages and those who spend a higher portion of their income on 'stuff' are generally worse off.
Inflation is targeted at 2% to keep a tiny bit of wage deflation in the economy, and to stay safely away from deflation which is a little scarier.