Vyor
My influence grows!
these are in no way nor sense slavery
Tucker Carlson Leaving Fox News
- Thread starter Husky_Khan
- Start date
Simonbob
Well-known member
There's a definition of slavery that's stolen, or forced, unpaid labour.
Both of those steal your wealth, and indirectly, your labour, without compensation.
It's a Libertarian definition. It's not a great one, it's way too loose.
Vyor
My influence grows!
That would make muggers slave owners.
Which is retarded.
And no, inflation doesn't steal wealth. In fact, in ideal circumstances it increases wealth by lowering the worth of debt.
Monopolies don't do anything to your money that you aren't doing to it yourself. If you don't like a monopoly... make a competing company?
edgeworthy
Well-known member
Has anyone pointed out that technically Tucker Carlson would be part of the Aristocratic Class?
(He's is related to the man referred to as "The Cattle King", the Swanson TV Dinner fortune, and a former Senator. He went to a Private School with its own Golf Course. And his parents live in Chevy Chase.)
(He's is related to the man referred to as "The Cattle King", the Swanson TV Dinner fortune, and a former Senator. He went to a Private School with its own Golf Course. And his parents live in Chevy Chase.)
Other than himself constantly?
Simonbob
Well-known member
Yes, inflation does steal wealth. It can, and does, lower effective debt in the process, but if you have savings, inflation means they are less valuble over time. That value is taken by those who print the money, from those who save it.
As for wealth itself? A unstable money supply is bad for investing in creation of things that create more goods and services, overall. You can play games with finance to make more money, but for actual wealth creation? No, not a good time.
Blasterbot
Well-known member
literally everyone who knows of his history including himself. also in case you didn't know some other obvious things everyone knows. Donald Trump has cheated on his wives and been divorced. Joe Biden is loosing what little mind he had. and Nanci Pelosi is really good at picking stocks for some strange reason.
Vyor
My influence grows!
If you primarily store your wealth in savings, yes. If you do that you're also an idiot, as every bank collapse ever has shown.
Typhonis
Well-known member
Speaking of Nancy...is she still moving to Florida or will it be New York?
Simonbob
Well-known member
If inflation exists, money, as a store of value, slowly reduces in value.
That's a fact. As is, pretty much every payment is made in money. You can exchange it for something more durable, value wise, but it doesn't change that the medium of exchange will steal a bit of your value every moment they can.
Vyor
My influence grows!
Unless you're in debt, in which case it creates wealth for you.
Simonbob
Well-known member
Assuming you don't have too much debt, sure.
It's pushes risky behavour, and screws over people who plan longer term in a bunch of ways.
Inflation is, long term, a really bad thing.
Vyor
My influence grows!
No it isn't, too much inflation is but low levels are perfectly reasonable.
Effectively everyone that's bought a car or a house is in enough debt that inflation helps them.
Simonbob
Well-known member
Vyor
My influence grows!
True, but that's everything in the economy. Deflation hurts those with debts and investments while helping those with savings. It also happens to be infinitely harder to cause without making everything collapse. Inflation happens on its own as productivity and population increases.
Skallagrim
Well-known member
Inflation harms pensions and savings, and causes a spiral where prices always increase while wages lag. Purchasing power decreases. In summation: inflation punishes work, punishes savings, punishes responsibility, and punishes the elderly who put in the money but get shafted because their pensions got pissed away.
It rewards those who act irresponsibly.
Know this: everything must be paid for. Inflation simply means that a lot of (say) student debt gets paid off by robbing pensioners. A steel welder who worked his whole life gets his pension slashed so an aspiring doctor who will soon make huge sums can be 'relieved' of his debt. Or worse: an obese purple-haired feminist who "studied" intersectional postcolonialism gets her debt paid off by robbing the workers and retirees, because she "needs the help"... because (surprise!) she can't find a job with her useless degree.
Inflation helps those who don't need it and/or don't deserve it, while robbing honest folk. The only people who support inflation are either opportunistic parasites who benefit from this highway robbery, or economically illiterate morons. Evil or stupid.
It rewards those who act irresponsibly.
Know this: everything must be paid for. Inflation simply means that a lot of (say) student debt gets paid off by robbing pensioners. A steel welder who worked his whole life gets his pension slashed so an aspiring doctor who will soon make huge sums can be 'relieved' of his debt. Or worse: an obese purple-haired feminist who "studied" intersectional postcolonialism gets her debt paid off by robbing the workers and retirees, because she "needs the help"... because (surprise!) she can't find a job with her useless degree.
Inflation helps those who don't need it and/or don't deserve it, while robbing honest folk. The only people who support inflation are either opportunistic parasites who benefit from this highway robbery, or economically illiterate morons. Evil or stupid.
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Blasterbot
Well-known member
based on how MMT and modern economists describe things if you increase your amount of currency by more than GDP grows that is your inflation rate. similarly if GDP growth outpaces your increase in currency that is deflation. this also means that 0% inflation happens if you increase the money supply by exactly GDP growth. generally they settle on saying that a small inflationary rate of between 1%-2% is acceptable and stable enough for the average person to work through.
in the real world we had the best economy under Trump who kept things on the low end for the most part and even occasionally managed to for short periods have some time where GDP outpaced the money supply. IE us being in a deflationary period. this was mostly because the Fed thought Trump would ruin the Economy and tried to keep their estimates in economic growth rather shall we say conservative... and similarly they tended to overestimate Obama and Biden's ability to make the economy good meaning they consistently increased the money supply by much more than they could grow the economy.
of course there are more factors to consider but yeah. Inflation, especially runaway inflation compounds and hurts those who are on the low end and middle end of the economic spectrum while those at the very top have assets that keep value better and those at the very bottom live off of gibs so their gibs loosely keep pace. especially since in spite of how people say an inflation rate of X% it tends to actually hit different potions of the economy harder than others and the current places hit hardest by it are Housing, Rent, Gas, Food, and energy. IE things that have a mostly inelastic demand.
I personally think in some ways the MMT crowd are good with their descriptions. their prescriptions however indicate that they tend to think they are smarter than they are and more accurate in their economic forecasts than they actually are. they also tend to be easily coopted by those who favor heavy state intervention in the economy. which pretty much always blows up in their faces.
People don't care that much if there is an aristocratic class as long as they fullfill their duties, treat the rest of society with basic social respect and are at least semi competent people in general will be satisfied.
If said aristocratic class decides to shirk their duties, act like complete assholes and are complete morons well you can always get another aristocratic class.
Yup.Inflation is anti-Robin Hood who robb poor and give money to rich.
Not really, that is economic based on not being a nuclear superpower and having control of most of the global financial system.
What foreigners don't get, is that people in the US can make debt work for them, by selling it to foreigners on commodities markets, or as a nation by leveraging it for international relations purposes.
The old economic models come from old economic assumptions that are broken with nuclear power in play, both from an energy generation and foreign affairs/military stand-point.
The USD is backed up by CVNs, GPS, the SWIFT system, Hollywood, oil/extractive industries, the US Federal Reserve, and ultimately our nuclear weapons.
Not all economic systems are equal in terms of context, not all currency is worth the same, sovereign debt doesn't work like national debt, and the main reasons people like you are stuck in the old economic system is because your national is smaller than some US states and even some of our metro areas and not a nuclear power outside of being part of NATO.
At least Poland is getting into the nuclear economy, which is what the modern economy is, a NUCLEAR ECONOMY, and if you don't have nukes or reactors, you aren't playing on the same level.