Can inflation actually be fixed? Is there any hope? Or will prices just gradually keep increasing?
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Others are saying we need inflation to grow the economy. I don’t believe this. Inflation has more or less became a never ending game of chicken. Let’s say we decided inflation is bad, and we attempted to keep it at 0% or lower. Money today would be worth the same 10 years from now. However all those other places in the world would still be having their money be worth less and less. This seems like a good thing, until you realize that after just so long out $10 would be worth a whole lot more for those outside than inside. Trading with other countries would become onesided. They will sell us goods, but wouldn’t buy anything. Why? Well while our $10 stayed the same for us, they see it as closet to $20 or possibly even more. There has been lots of times China jas intentionally inflated its currency because it was getting too high and causing other countries to limit trading.
Everyone is just stuck on the inflation bus for no good reason. The whole “it’s makes people spend instead of save” isn’t true, most people don’t save because they can’t. Look up the amount of inflation since the last time minimum wage was changes. That wage is less than half the buying power it was at the time.
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