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Yes, I understand the extreme anti-fiat view. I've heard it from radical goldbugs & Austrians for decades. It's not supported by even mainstream Austrians or fringe-but-reputable economists. Or evidence. It's moral outrage masquerading as empirical claims. https://twitter.com/paul_btc/status/1012769551002619904 …
Sure, inflation is a morally questionable hidden tax that distorts the economy. That doesn't make it infinitely bad. Notice the loaded language "out of the charts" (tautologically false, just adjust chart scale), the exaggerated claim that not even one millennial can buy a house.
This is right-wing virtue signaling, their equivalent of leftist moral outrage. Inflation=bad, so we must only talk about the bad things it does to bad people & good things to good people. To mention limits to it's badness is to defend badness which is heresy.
Sorry "Currency Justice Warriors", but some of us have been sorting through fringe economic theories for 20 years. We don't take right-wing bluster any better than left-wing bluster. We use models and examine facts. We know outrage is the sign of an emotionally-driven position.
CPI is bullshit. Inflation is a sneaky way to steal. That doesn't mean it is infinitely bad, or unmeasurable, or hurts all good people, or doesn't have benefits or anything other than...it distorts the economy a bit and steals a bit of value. Finis.
Patri: there is no moral or economic advantage to inflation* in the economic process. Of money production, yes.
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