Re:Problems with relying on billionaires to save us
by merpnderp on Wednesday October 13, 2021 @02:51PM
(#28855885)
Exactly the never ending quantitive easing has just been piling more and more money into the hands of the rich in the name of helping the poor. Heaven forbid we have some deflation, and assets cost less while wages get stronger.
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Re:Problems with relying on billionaires to save us
by imtringued on Wednesday October 13, 2021 @03:23PM
(#28856329)
Deflation benefits the rich. They have lots of money that gets to appreciate. You're just turning money into housing or Bitcoin. Something the rich speculate with to the detriment of the less wealthy.
Re:Problems with relying on billionaires to save us
by merpnderp on Wednesday October 13, 2021 @03:51PM
(#28856752)
No, they don't have lots of money, they have lots of assets. No one is sitting around with a silo full of doll-hairs they go swimming in like a greedy duck. And with deflation, those assets become cheaper. Inflation they become more expensive. The exact opposite of wages.