Re:Workers’ Pay Globally Hasn’t Kept Up with Inflation
by throwaway5959 on Monday February 20, 2023 @11:55PM
(#34876807)
k let's assume that's the case, what would you propose as the solution to mop up the 12 trillion in excess M1?
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Re:Workers’ Pay Globally Hasn’t Kept Up with Inflation
by SideQuark on Tuesday February 21, 2023 @10:47AM
(#34882421)
Nothing - you let it run it's course while mitigating inflation with Fed actions. Money will rescale as it's always done, and people will go on their way (as they're doing right now).
This is how it's been done the world over, and it works pretty well, despite pop articles creating more panic than is warranted. Money has been added in the past to smooth out the 18th and 19th century boom and bust cycles, and it has worked extremely well compared to past pain.
Every country on the planet has chosen central banking since the evidence it's better than the alternatives has been overwhelming for almost a century.