I’ve always been saying it. Fiat currency leaves the value of money in the hands of too few people. Whenever their buddies start crying for help, the money hose turns on and the rest of us suffer higher prices with no wage growth to balance it.
This isn’t a currency issue. The processes driving this have been observed in 19-century Britain under a gold standard. For me it took looking into how firms decide what to produce, how to produce it and what to do with the profits in order to build a better picture on what’s happening. This Talk at Google was a good starting point for me.
The ability to turn on the money hose isn’t the problem. If they used the money hose on us it’d be great! The problem is they use it to redistribute wealth to the rich and powerful, while the rest of us go thirsty.
Fairly certain it has been an issue since the 60s or 70s for anyone not in the top 25% or so.
I’ve always been saying it. Fiat currency leaves the value of money in the hands of too few people. Whenever their buddies start crying for help, the money hose turns on and the rest of us suffer higher prices with no wage growth to balance it.
This isn’t a currency issue. The processes driving this have been observed in 19-century Britain under a gold standard. For me it took looking into how firms decide what to produce, how to produce it and what to do with the profits in order to build a better picture on what’s happening. This Talk at Google was a good starting point for me.
The ability to turn on the money hose isn’t the problem. If they used the money hose on us it’d be great! The problem is they use it to redistribute wealth to the rich and powerful, while the rest of us go thirsty.
To a point subject to the real resource limits we have, but I’m pretty sure you knew that. 😊
If we still had policies that forced wealth redistribution it would work fine like it used to