06-22-2016, 02:48 AM
(06-21-2016, 07:23 AM)Anthony Wrote:Quote:I have always found it interesting that those who are so public about supporting the poor will not recognize the harm that inflation does. Then again, a commodity money would limit government spending and it is inconceivable that anyone would want to starve the god of liberals and progressives. It is more important to them then any consequences to the poor.
But what good is the fact that apples cost a nickel if you don't have the nickel?
What good is a nickel if it is worthless? Come to think of it what good is a dollar if it is worthless as well? Now the rich compensate by first getting the government to spend the newly printed money on them. Second, they own tangible as well as financial assets that tend to go up in terms of nominal price. Anyone who is holding the currency as savings, particularly while interest rates are artificially low, is going to lose. The poor usually don't know much about these kind of investments and it is kind of hard to save up for them when inflation is eating your seed capital.
I started without a bean to my name so I know what I am talking about here.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- H.L. Mencken
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises
If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action. -- Ludwig von Mises