• explodicle@sh.itjust.works
    link
    fedilink
    English
    arrow-up
    0
    ·
    5 months ago

    But debt is good! Inflation has encouraged everyone to take out loans where they previously couldn’t. Hooray!

    /s

    • ObjectivityIncarnate@lemmy.world
      link
      fedilink
      arrow-up
      0
      ·
      5 months ago

      A small amount (obviously less than we’ve had recently) of inflation is actually ideal. Deflation incentivizes literal hoarding of cash, instead of spending it on things, which is a very reliable way to bring an economy to a screeching halt.

      • explodicle@sh.itjust.works
        link
        fedilink
        English
        arrow-up
        0
        ·
        5 months ago

        No offense but this is exactly the belief I was being sarcastic about. The economy wasn’t halted before Nixon introduced inflation as we know it today. And “the economy” at this point is practically a euphemism for rich people getting nearly the entire surplus while destroying the environment.

        Please stop spreading this dangerous misconception.