Re:U.S. adds just 266,000 jobs in April, far below expectations
by dragonwriter on Friday May 07, 2021 @12:38PM
(#27077812)
> Money printing is a tax on everyone.
Its a βtaxβ (a reduction in real value held) on holders of dollar denominated assets, transferring value to holders of dollar-denominated liability.
> More so on the poor, who have fewer assets that inflate along with the money printing.
The poor tend to have most of their gross assets in tangible non-financial assets (like a car and other durable goods), which do tend to inflate with general inflation (they may depreciate independent of inflation.)
In terms of dollar denominated items, the poor tend to be net debtors, and inflation reduces the real value of that debt.
Its a βtaxβ (a reduction in real value held) on holders of dollar denominated assets, transferring value to holders of dollar-denominated liability.
> More so on the poor, who have fewer assets that inflate along with the money printing.
The poor tend to have most of their gross assets in tangible non-financial assets (like a car and other durable goods), which do tend to inflate with general inflation (they may depreciate independent of inflation.)
In terms of dollar denominated items, the poor tend to be net debtors, and inflation reduces the real value of that debt.