• electriccars
    link
    fedilink
    arrow-up
    5
    arrow-down
    14
    ·
    10 months ago

    You’re right. But they don’t want to hear it. Just like how most of the world believes in sky people and don’t want to face reality.

    The world has been living on FIAT currency since WW1 when virtually every country left the Gold Standard. It’s been ingrained into everyone that deflation = bad, inflation = good. Yet at the same time every single financial advisor recommends dumping your savings into deflationary assets (houses, stocks, etc)… Okay. Makes sense to me.

    • ZodiacSF1969@sh.itjust.works
      link
      fedilink
      arrow-up
      6
      arrow-down
      1
      ·
      10 months ago

      It’s almost as if one of the ideas behind having an inflationary currency is that people don’t hoard it and invest in other things!

      • electriccars
        link
        fedilink
        arrow-up
        2
        arrow-down
        1
        ·
        10 months ago

        39% of Americans do not invest in the stock market. Fuck them I guess.

        Having 2% deflation instead of 2% inflation would be good for the economy. It would be a baseline to compete against for companies and mean less people would invest in bad investments that just beat inflation.

        We also need to stop this ludicrous idea of infinite growth of the economy forever in order to be able to afford to retire. It’s detremental to the environment and to the quality of products the economy produces to expect such.

        Inflationary policies and fiat currencies are the fuel behind both world wars lasting as long as they did.

        Ancient Rome prospered with a strong currency, when they started debasing their currency it started the fall of Rome. The same will happen to us.

        • ZodiacSF1969@sh.itjust.works
          link
          fedilink
          arrow-up
          1
          ·
          10 months ago

          I agree that there is an unhealthy attitude to capital growth. That definitely needs to change.

          As for the 39% of Americans not investing, how many have pension funds or other retirement schemes that do the investing for them? Regardless, they are free to choose what they do with their money. If they want to hold it, so be it.

          A period of deflation might make for a good break, but not as a permanent solution. Investment inspires innovation, and innovation in new technologies will be vital in combating climate change.

          I can’t comment on the wars or Rome but I think there are multiple factors there, fiat maybe being one but of what significance?

    • Kecessa@sh.itjust.works
      link
      fedilink
      arrow-up
      5
      arrow-down
      3
      ·
      edit-2
      10 months ago

      Remember the last time you traded your house for food?

      Yeah, me neither 👍

      What’s the title line of Bitcoin’s whitepaper?