Deflation, actually, is good for the economy because it lowers the cost of expansion
Wow, talk about economic nonsense. Deflation is far, far worse for the economy than inflation because it lowers the incentive to put existing capital to use.
and makes everyones savings have more purchasing power, making everyone wealthier.
Except those who have no savings or even debt, i.e. most people. And no, that's not their fault and debt-slavery their justly deserved punishment decreed by god. Inflation is pretty much the only thing that mitigates the aggregation of all wealth in the hands of a tiny group of people.
Yes, please don't say economic nonsense. What you are giving me here is political ideology, not economics. Your claims are easily disproven. The period of Americas greatest economic growth, where we went from backwards colonies to economic leader is a period of deflation! From the late 1780s to around 1910- the dollar appreciated in purchasing power due to deflation and we had the industrial revolution. All that extra productivity from machines manned prices go down and gave people more money to spend, and contrary to the claim that it prevents investment, more purchasing power means more capital to deploy.
I have ot laugh at the absurd claim that inflation is good because people have no savings to benefit from deflation. The reason they have no savings is that your lot have stolen them via inflation!
Comments
Deflation, actually, is good for the economy because it lowers the cost of expansion
Wow, talk about economic nonsense. Deflation is far, far worse for the economy than inflation because it lowers the incentive to put existing capital to use.
and makes everyones savings have more purchasing power, making everyone wealthier.
Except those who have no savings or even debt, i.e. most people. And no, that's not their fault and debt-slavery their justly deserved punishment decreed by god. Inflation is pretty much the only thing that mitigates the aggregation of all wealth in the hands of a tiny group of people.
Yes, please don't say economic nonsense. What you are giving me here is political ideology, not economics. Your claims are easily disproven. The period of Americas greatest economic growth, where we went from backwards colonies to economic leader is a period of deflation! From the late 1780s to around 1910- the dollar appreciated in purchasing power due to deflation and we had the industrial revolution. All that extra productivity from machines manned prices go down and gave people more money to spend, and contrary to the claim that it prevents investment, more purchasing power means more capital to deploy.
I have ot laugh at the absurd claim that inflation is good because people have no savings to benefit from deflation. The reason they have no savings is that your lot have stolen them via inflation!