Re:What the world will be like in a hundred years (1922)
by imtringued on Friday January 07, 2022 @04:22PM
(#29845014)
>No, it is a means of wealth transfer to the government without raising taxes. Where does the trillions in deficit spending come from? Inflation!
Saving creates a hole in the economy, the trillions of deficit spending are a very stupid way of filling that hole. It works better than doing nothing which is why we do it.
>The notion that it is for monetary stability is also propaganda. Milton Friedman in "Monetary History" showed that instability increased after the creation of the Fed.
Uh, that is a property of capitalism. It's great at first when debts are low then it gets worse and worse.
No, it is a means of wealth transfer to the government without raising taxes. Where does the trillions in deficit spending come from? Inflation!
The politicians, of course, know this. But they keep up the misdirection by blaming it on greedy capitalists and/or unions.
The notion that it is for monetary stability is also propaganda. Milton Friedman in "Monetary History" showed that instability increased after the creation of the Fed.