They prefer keeping us focused on these small incremental numbers like 3% increase .7% decrease, et cetera. So we don’t step back and see that since the year 2000, inflation has increased 97%.
A small amount of predictable inflation is good for the economy. You get to pay your car loan back with dollars that are smaller than the ones the bank fronted in the first place, and the bank has money to load at all because it makes sense for everyone in town to deposit their extra dollars rather than just hiding them at home.
It’d be nice to have some revaluing of physical currency though, since the spending power of a single dollar today is about what a nickel was a century ago. I wouldnt mind if tiny metal discs with Jefferson’s face said “one dollar”.
That claim is only controversial among people who don’t understand macroeconomics. Those are often the same people who think deflation is a good thing.
They prefer keeping us focused on these small incremental numbers like 3% increase .7% decrease, et cetera. So we don’t step back and see that since the year 2000, inflation has increased 97%.
And “inflation is good for the economy”
A small amount of predictable inflation is good for the economy. You get to pay your car loan back with dollars that are smaller than the ones the bank fronted in the first place, and the bank has money to load at all because it makes sense for everyone in town to deposit their extra dollars rather than just hiding them at home.
It’d be nice to have some revaluing of physical currency though, since the spending power of a single dollar today is about what a nickel was a century ago. I wouldnt mind if tiny metal discs with Jefferson’s face said “one dollar”.
That claim is only controversial among people who don’t understand macroeconomics. Those are often the same people who think deflation is a good thing.