Rather than striking at the root, most politically proposed solutions consist of fighting the symptoms of interventionism with even more interventionism (which will likely create more unintended consequences).pic.twitter.com/ihdDJ7eZMq
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Rather than striking at the root, most politically proposed solutions consist of fighting the symptoms of interventionism with even more interventionism (which will likely create more unintended consequences).pic.twitter.com/ihdDJ7eZMq
I'm really curious: would you have kept the Fed rate at 4% to 5% during the 2007 - 2009 recession and prevented QE if you had the power at that time?
Once you're running a monopoly, you're in the twilight zone. There is no way for a central planner to calculate the right interest rate, hence the saying "socialism can't calculate". In a system with free competing currencies, the interest rate emerges from the market place.
Yes, do the reverse instead: #UniversalBasicIncome
It will be a huge #TrickleUp stimulus and directly get rid of poverty at the same time.
Will keep Fed from having to enter twilight zone of negative rates. Can be funded via money printing (MMT), VAT or mix as appropriate.
UBI actually incentivizes the governments to print more money: their UBI liability is fixed in quantity, and so the relative % of that in the government budget can be adjusted downwards by simply printing more money.
Tuur, both groups have become wealthier over time. The chart shows that the top have become wealthier at a faster rate but suggesting a wealth "transfer" from poor to rich is misleading.
I disagree, imo ceteris paribus, in absence of the phenomenon of inflationary rent seeking, the poor would have had more savings to their disposal in an absolute sense.
Good one
The rich have the assets, which don’t debase. The poor have nothing, but everything costs more...
The middle class & poor are dependent on income, which is usually the last to adjust to inflation (and based on CPI which imo is a lagging indicator also).
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