• ObjectivityIncarnate@lemmy.world
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    5 months ago

    A small amount (obviously less than we’ve had recently) of inflation is actually ideal. Deflation incentivizes literal hoarding of cash, instead of spending it on things, which is a very reliable way to bring an economy to a screeching halt.

    • explodicle@sh.itjust.works
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      5 months ago

      No offense but this is exactly the belief I was being sarcastic about. The economy wasn’t halted before Nixon introduced inflation as we know it today. And “the economy” at this point is practically a euphemism for rich people getting nearly the entire surplus while destroying the environment.

      Please stop spreading this dangerous misconception.