10k today is worth substantially more than 10k in 10 years. You have more buying power now than in 10 years because of inflation/COL. If you pay a creditor a locked in $300/mo for a term of years, in 10 years it’s worth substantially less than it is now. Creditors have a built-in incentive to keep inflation low if you’re doing things like originating mortgages, for instance.
While I don’t disagree w the premise wrt to debt laden people, overall inflation does more harm in pretty much every other aspect. Especially in day to day life. And, at the end of your loan, your asset is worth less.
I should probably be more careful with wording and the levels we’re talking about. Dramatic inflation is bad. Some can be good and there’s an incentive for various persons to want certain levels.
I'll have to reread Kelton's book so Truman feel free to correct me here if I misstate it, but I thought the MMT crowd considered inflation to be "a gift to the investor class," or something to that effect? I thought it was argued that in a "fair" economy that inflation would be 0?
I dont remember that specific line. But if you’re in the investor class you own more tangible assets and can survive and buy up everything when things stabilize. Idk about a fair economy having zero inflation. You want a little inflation like 2-3% to grow over time
beat me to it... I’m not trying to be an inflation fear monger at all but hyper inflation is a definite bad deal for everyone ... the period in the 70s and early 80s maybe/probably verged on hyper inflation and is a period that has influenced a lot of fed and fiscal policy. Ideally, and the Fed had agreed for years, inflation should be about 2% my personal belief is that technology has been responsible for the vast amount of inflation control
Every single time they do this with VP Harris breaking the tie, they need to remind everyone how much of the country is represented by the 51 and how it's way more of a majority than breaking a tie.
Manchin will take a chunk out of whatever bill the Democrats propose. I'm fine with that, as long as we at least get major filibuster reform and add DC and PR as states. Need to pass popular shit and gain seats in the Senate in the midterms, hold the House, and grind this out.
yeah I didn't know the exact number but any article should read "Senators representing XX% of the United States today approved...." instead of "50/50 tie-break"...I know it won't work that way in today's media but it should be emphasized at every opportunity.
Why can’t we tie federal money to voter turnout? >90% turnout of all 18+ = 100% of budgeted money, >80% =95%, <80% = 75%.
2024 if Biden doesn’t get shit passed? 2022 is very favorable for Dems provided Biden delivers on some easy promises like cancelling student loan debt.
at "false narrative." The entire new law was based on a false narrative. The GOP is using the Big Lie to re-create Jim Crow.
2022 house will be tough to keep when the republicans get done drawing their gerrymandered districts even if the democrats win the 3-4 seats required to bust through the filibuster on things like voting right legislation, DC statehood and things like that.
And the Bad Police thread where the front desk at a hotel called the cops based on pictures that they have of suspected criminals. They got the wrong guy. https://www.the-mainboard.com/index...ice-is-a-gamble.137194/page-416#post-16588720 Spoiler
It works on these people because they're currently trying to figure out how to print out a Washington Times article
yeah, another reason why no one should be staying in a Marriott, period. They're a shit hotel chain. Pure GOP trash
Baseball Corporations Keurigs Universities Starbucks The woke lib mafia is getting everything in the divorce. All that’s left will be the literal power of most of government which is pretty nice I guess.