I've been stuck listening to my crypto chud relatives all weekend, and they tell me Bitcoin is going to make us all rich and solve literally every problem on the planet, but especially global warming and inflation.
Lol magic computer money will make us all billionaires somehow don’t think about it trust me bro, but just simply allocating abundant resources to societal needs is just fuckin utopian Sci fi shit
Wages are supposed to inflate as well, which people don't account for. Obviously that doesn't always happen which is a real issue, and there are better ways to manage the economy than moving the interest rate/inflation lever back and forth, but it isn't inherently bad, like you said.
What if someone doesn't have debt? What if inflation just means they're paying 20% more for groceries and 20% more for rent and 50% more for gasoline? What about those who are on a fixed income?
Inflation is a real problem from my perspective, although I'm glad if it leads to student loans being easier to pay off.
according to Northwestern Mutual’s 2018 Planning & Progress Study, which also reports that “fewer people said they carry ‘no debt’ this year compared to 2017 (23 percent vs. 27 percent).”
I've never really understood this line of thought. How can everyone be rich? The whole system necessitates people struggling to get by or else it collapses
I've been stuck listening to my crypto chud relatives all weekend, and they tell me Bitcoin is going to make us all rich and solve literally every problem on the planet, but especially global warming and inflation.
Lol magic computer money will make us all billionaires somehow don’t think about it trust me bro, but just simply allocating abundant resources to societal needs is just fuckin utopian Sci fi shit
Yeah back when I was into Bitcoin I used to get downvoted on the Bitcoin subreddit for saying that you can't solve political problems with technology.
if every problem on the planet can be solved by buying drugs with invisible magic computer money then sign me tf up
inflation isn't even a real problem it makes debt less of an issue
Wages are supposed to inflate as well, which people don't account for. Obviously that doesn't always happen which is a real issue, and there are better ways to manage the economy than moving the interest rate/inflation lever back and forth, but it isn't inherently bad, like you said.
Yeah people talk about it like it's something unequivocally bad rather than a nuanced issue
What if someone doesn't have debt? What if inflation just means they're paying 20% more for groceries and 20% more for rent and 50% more for gasoline? What about those who are on a fixed income?
Inflation is a real problem from my perspective, although I'm glad if it leads to student loans being easier to pay off.
Who tf doesnt have debt? Lmao
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It's difficult to pin down exact numbers.
( https://www.cnbc.com/2018/08/20/how-much-debt-americans-have-at-every-age.html )
A website called shift processing seems to agree with these numbers, saying:
https://shiftprocessing.com/american-debt/
So you definitely have a point that most people have debts
Weird that they don't include mortgage debt. Everyone has it but that doesn't make it not debt
Who tf can afford a mortgage? Lmao
True
It's bad for some people good for others. Same as a lack of inflation. Inflation helps exports but harms imports.
I've never really understood this line of thought. How can everyone be rich? The whole system necessitates people struggling to get by or else it collapses
According to my brother in law, it's just because banks keep everyone down and control everyone, but it totally isn't capitalisms fault.
:joker-troll: