Re:Min wage would be $44 / hour if it had grown at same rate...
by imtringued on Sunday April 11, 2021 @06:38AM
(#26769270)
> Inflation is wealth transfer from those who hold government fiat (the poor and the middle class) to those who hold assets (the rich).
Nope, it's a wealth transfer from those who refuse to invest to those who invest and if you fail to invest you deserve it because you are not creating jobs and therefore make the lives of the poor and middle class worse.
>Deflation is the same thing in reverse.
No, since you are not investing your savings you are not creating jobs, you are directly responsible for causing unemployment. Please tell me, if you put cash under your mattress how is that cash supposed to employ anyone?
>Makes it pretty clear why the government is fighting deflation so hard.
The government is fighting deflation because it doesn't want unemployment because it doesn't want the economy to shrink because that requires the population to shrink. Do we just "cull" those useless people by killing them or sending them to Australia?
Now, lets talk about the real damaging wealth transfer. Low interest rates are a wealth transfer from people who invest into safe investments (bank accounts) to people who invest into risky investments (stocks and housing).
Interest rates are a function of inflation. Low inflation means low interest rates and therefore a higher wealth transfer from the poor to the rich.
Nope, it's a wealth transfer from those who refuse to invest to those who invest and if you fail to invest you deserve it because you are not creating jobs and therefore make the lives of the poor and middle class worse.
>Deflation is the same thing in reverse.
No, since you are not investing your savings you are not creating jobs, you are directly responsible for causing unemployment. Please tell me, if you put cash under your mattress how is that cash supposed to employ anyone?
>Makes it pretty clear why the government is fighting deflation so hard.
The government is fighting deflation because it doesn't want unemployment because it doesn't want the economy to shrink because that requires the population to shrink. Do we just "cull" those useless people by killing them or sending them to Australia?
Now, lets talk about the real damaging wealth transfer. Low interest rates are a wealth transfer from people who invest into safe investments (bank accounts) to people who invest into risky investments (stocks and housing).
Interest rates are a function of inflation. Low inflation means low interest rates and therefore a higher wealth transfer from the poor to the rich.