US inflation means families are spending $709 more per month than two years ago

Re:US inflation means families are spending $709 more per mo... by WalterBright on Sunday August 13, 2023 @04:43PM (#37114237)

> This eventually locks the entire economy up into a death spiral.

The US economy had zero net inflation from 1800 to 1914. No death spiral.

The whole "2% is good for the economy" is propaganda to hide the fact that deficit spending causes inflation and is a tax on the economy.

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Re:US inflation means families are spending $709 more per mo... by TMWNN on Sunday August 13, 2023 @05:35PM (#37114775)

>The US economy had zero net inflation from 1800 to 1914. No death spiral.

I've heard that £1 was worth the same in 1914 as in 1614.

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Re:US inflation means families are spending $709 more per mo... by HDThoreaun on Monday August 14, 2023 @11:27AM (#37122160)

The US economy was absolutely fucked for a large portion of that time period largely because of the lack of monetary policy. The economy has done much, much better since we introduced fiat.

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Re:US inflation means families are spending $709 more per mo... by WalterBright on Monday August 14, 2023 @12:28PM (#37122947)

Milton Friedman in "Monetary History of the United States" shows that fluctuations in the money supply were significantly more pronounced after fiat money began. The fed's enlightened hand on the tiller simply isn't as good as the blind actions of the free market.

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Re:US inflation means families are spending $709 more per mo... by HDThoreaun on Monday August 14, 2023 @06:08PM (#37127405)

fluctuations in the money supply are not necessarily a bad thing.

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Re:US inflation means families are spending $709 more per mo... by WalterBright on Monday August 14, 2023 @11:11PM (#37129720)

If they have proved unable at smoothing the small fluctuations, how can they do better with the large ones? And they didn't - the Great Depression.

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