Pollution from fossil fuel combustion deadlier than previously thought

Re:Pollution from fossil fuel combustion deadlier than previ... by darkerside on Wednesday March 24, 2021 @10:04PM (#26575769)

I always thought inflation was a dangerous potential side effect of a booking economy, and that deflation was much more dangerous. If the baker can't sell their bread unless they charge pennies for it, it's probably a sign that people can't buy much of anything else either.

IANAE

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Re:Pollution from fossil fuel combustion deadlier than previ... by HPsquared on Thursday March 25, 2021 @04:07AM (#26577523)

Debt is what makes deflation hazardous to people. A non-indebted baker may have to sell his bread for pennies, but the things he then needs to buy would also cost pennies so he'd end up in a similar position.

However if the baker is paid in pennies, has cost-of-living in pennies, but owes the banker £1000000 for his bakery shop, this causes problems. Same with back taxes etc.

On the other side, inflation is hazardous to creditors: the lender gets back less than they originally gave out (creditors also include those holding bank deposits)

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Re:Pollution from fossil fuel combustion deadlier than previ... by darkerside on Thursday March 25, 2021 @07:03AM (#26578684)

If you owe the bank $10,000 you have a problem. If you owe the bank $10,000,000 the bank has a problem. Seems like the creditors are potentially unhappy either way.

Debt aside, I would maintain that if people can barely afford bread, they are likely not buying cars, washing machines, or other more expensive items. That seems like a recipe for a vicious cycle where society ends up regressing towards individualism and barter, with less economic strength.

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Re:Pollution from fossil fuel combustion deadlier than previ... by mac01021 on Thursday March 25, 2021 @12:10AM (#26576514)

> IANAE

I'm not sure professional economists are either...

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