Inflation

[jacoavlu]

Hubris? Overconfidence?

Certainty that "this is a different situation" and "you don't understand monetary policy". and "printing money is OK for governments"

Pascals wager comes to mind for me. Consequences must be considered.

If there is a 0.1% chance of failure and failure results in obliteration is it a good gamble?

What are the consequences if they are wrong?

What if it is not different?

House of cards indeed.

I'm not obsessed with inflation, or covid, or monetary policy.

I just think our monetary policy is suboptimal at best and ridiculous at worst

and I find inflation kind of annoying.

i'm not a check your privilege guy but our money situation is one where we really do have to check our privilege.

re gov and fed

i'm reminded of when upton sinclair said "“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”

you could replace man with those in power, and understand with admit

[CordMcNally]

Powell said that we should retire the word transitory with regards to inflation. Acknowledgement is the first step. Now, if they would only acknowledge that they're playing a significant factor in inflation.

[jacoavlu]

Powell said that we should retire the word transitory with regards to inflation. Acknowledgement is the first step. Now, if they would only acknowledge that they're playing a significant factor in inflation.

no matter one's opinions on this stuff its definitely funny to see the pres of el salvador dunking on powell and the fed

https://twitter.com/nayibbukele/stat...673299968?s=20

[pitt1166]

my sister who is a BSN several years out of school is looking into traveling nursing... the highest rates she has been able to find have been ~3.5k per week in California.

[Tim]

Treasury- revenue and government spending. Fiscal policy
Fed - available credit via interest rates and sustainable full employment- Monetary policy.

APM- all policies matter. Just saying it’s government with tons of power.

[Turf Doc]

you think they're different, i think they're the same. like we agree if a person could print the money that would be bad. and at a business or small group level. at what point does the transition happen where it just becomes ok?

printing all the money works until it doesn't. its a house of cards

its like we're all ok with a little bit of devaluation of our money bc we're in our position of privilege and in the end it helps us more than hurts us

So again, i think that having a discussion about how an individual printing money affects things (if they had the ability to) versus the government printing money affects thing is a different discussion than the one we have.

Seems to me that billionaires effectively already have all the money they could ever spend (aka a money printer) and i dont see them causing inflation other than maybe things that only billionaires buy. Is the issue with printing money or having a virtual infinite supply of money? Should billionaires exist in that case?

I don't know about "ok" or not, thats a value judgment. But id rather live in a US that controlled its own currency than one that didnt.

Also suspicious that the people on here worrying about inflation are really worrying about it because of the little guy. is everyone here not annoyed that with inflation they're not feeling as rich as they used to?

[jacoavlu]

So again, i think that having a discussion about how an individual printing money affects things (if they had the ability to) versus the government printing money affects thing is a different discussion than the one we have.

again, you think it's different, I don't.

gov printing trillions of dollars devalues everyone's dollars. hard stop

[Zaphod]

Why?

Why would it stay, inflation is right now a product of mismatches and yoy easy comps which will resolve. There isnt a single thing about anything in the world that is deflationary, most of all a ton of excess deaths. Oil just fell 20%, super deflationary. Further most of the prices people are complaining about are no different than 2019, while no one cried when they paid 99c for gas in 2020, its the jump back to what is normal that is difficult for people.

Transitory doesnt mean it goes back down.

[Zaphod]

you think they're different, i think they're the same. like we agree if a person could print the money that would be bad. and at a business or small group level. at what point does the transition happen where it just becomes ok?

printing all the money works until it doesn't. its a house of cards

its like we're all ok with a little bit of devaluation of our money bc we're in our position of privilege and in the end it helps us more than hurts us

Theyre not remotely the same, and you have no idea about how the monetary system works, its nothing like a household. This is boomer/coiner talk and is exceedingly ignorant. Government printing is income, saying they shouldnt print is like saying you should stop working to because you need to control your debt.

If the government is spending that ends up as income for the public, you, me and everyone.

[Zaphod]

again, you think it's different, I don't.

gov printing trillions of dollars devalues everyone's dollars. hard stop

And yet, it hasnt happened. Value of the dollar is stable and it hasnt cracked even in the face of printing, in fact went up amongst it.

[jacoavlu]

Theyre not remotely the same, and you have no idea about how the monetary system works, its nothing like a household. This is boomer/coiner talk and is exceedingly ignorant. Government printing is income, saying they shouldnt print is like saying you should stop working to because you need to control your debt.

If the government is spending that ends up as income for the public, you, me and everyone.

explain it to me then kind sir, relieve me of my ignorance

[jacoavlu]

And yet, it hasnt happened. Value of the dollar is stable and it hasnt cracked even in the face of printing, in fact went up amongst it.

you and I apparently define value differently. if its stable why am i investing, i should just keep all my dollars and then spend them when i retire right?

[Zaphod]

you and I apparently define value differently. if its stable why am i investing, i should just keep all my dollars and then spend them when i retire right?

its always a dollar, just like 1 btc is always 1 btc.

[Zaphod]

explain it to me then kind sir, relieve me of my ignorance

nope, read some books

[xraygoggles]

no matter one's opinions on this stuff its definitely funny to see the pres of el salvador dunking on powell and the fed

https://twitter.com/nayibbukele/stat...673299968?s=20

Meh, people seem to be fanboying too much over a dictator.

Also, kinda strange to be mocking the Fed when he is literally denominating volcano bonds in USD...