this post was submitted on 30 Aug 2023
577 points (98.5% liked)
Technology
59626 readers
3689 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
These idiots think that inflation is driven by spending, so if people are buying and investing that prices will rise.
So they think that raising rates will reduce access to loans/debt which will reduce consumer spending which will reduce inflation.
The running explanation is that an inflation rate of 2% is "healthy" and prevents hoarding.
2% inflation means that my money is worth less tomorrow, and experts seem to agree that that means I'm going to spend my money "correctly".
2% deflation means that my money is worth more tomorrow, and experts seem to agree that that means I'm going to starve myself and live like a hermit while hoarding my money because nobody would ever buy anything if it would be cheaper next year.
It's all bullshit.
It's not bullshit, that's the thing.