Reply to: Deflation is the ogre that must be fought decisively

[SpontaneousOrder]

A widening rich poor divide...

That's fair enough.
With this ultra cheap cheap money there's no point in the poor saving it, and the rich get to reap the rewards of the poorer's unrestrained spending and cheap capital to grow (unnaturally) even more. We don't need a depression though - just honest monetary policy.

[doodab]

You say that like it's good thing. Being more equally screwed is worse than being unequally benefited.
Rich - poor divide is is just a natural consequence of some people being worth more than others - apart from those that get it through fraud. But those that get rich through fraud aren't generally the ones who get squashed when it all goes tits.

A widening rich poor divide isn't a natural consequence of some people being worth incrementally more than others, it's simply a result of the rich being in a position to skew the system in their favour. Neither is it indefinitely sustainable, and all the evidence is that it's bad for society (even the rich) in the long run.

[BrilloPad]

You say that like it's good thing. Being more equally screwed is worse than being unequally benefited.
Rich - poor divide is is just a natural consequence of some people being worth more than others - apart from those that get it through fraud. But those that get rich through fraud aren't generally the ones who get squashed when it all goes tits.

I understand what you say and in some ways agree.

But societies in which people are more equal tend to be happier. Rich or Poor.

[AtW]

Don't fight him dear, you'll just make an ass of yourself...

[SpontaneousOrder]

The gap between rich and poor was reduced for the first time in a generation. Now its been increasing for 80 years.

You say that like it's good thing. Being more equally screwed is worse than being unequally benefited.
Rich - poor divide is is just a natural consequence of some people being worth more than others - apart from those that get it through fraud. But those that get rich through fraud aren't generally the ones who get squashed when it all goes tits.

[Zero Liability]

This woman's entire existence consists in advising governments how to better leech off their tax chattel. Not a word that comes out of her mouth is anything but self-serving bile.

[BrilloPad]

It was the fattest cats that engineered 1929 to acquire all of the less fat cats. I would imagine that the fattest will benefit from the next one too.

The gap between rich and poor was reduced for the first time in a generation. Now its been increasing for 80 years.

[SpontaneousOrder]

The only thing that ever affects the fat-cats is a depression. Interesting to see when the next one will be.

It was the fattest cats that engineered 1929 to acquire all of the less fat cats. I would imagine that the fattest will benefit from the next one too.

[BrilloPad]

So what all those detestable cigar chomping fat cats need is a healthy dose of inflation or better still hyper-inflation

The only thing that ever affects the fat-cats is a depression. Interesting to see when the next one will be.

[SpontaneousOrder]

Nonsense

People who hold off before buying stuff prevent the people who make or import the "stuff" from earning any money

You like credit bubbles then?

[OwlHoot]

Exactly - deflation is only bad because it reduces the assets of banks, rich companies, and very rich individuals. ...

So what all those detestable cigar chomping fat cats need is a healthy dose of inflation or better still hyper-inflation

[Kanye]

Imagine a world with deflation.People hold off before buying stuff. People have more money, less debt, and are less likely to be wage slaves. They might even start to realize that Christine LeGunge is a useless 2@ who just wants to enslave the masses.

Dreadful.

Exactly - deflation is only bad because it reduces the assets of banks, rich companies, and very rich individuals.

For normal people it's either good or doesn't really impact us. I would take a massive dose of deflation at the minute to avoid the need to take on so much crippling dead for a house.

I can understand why we try to avoid it but it's really not the end of the world.

[OwlHoot]

Imagine a world with deflation.People hold off before buying stuff. People have more money, less debt, and are less likely to be wage slaves. They might even start to realize that Christine LeGunge is a useless 2@ who just wants to enslave the masses.

Dreadful.

Nonsense

People who hold off before buying stuff prevent the people who make or import the "stuff" from earning any money

[BrilloPad]

Imagine a world with deflation.People hold off before buying stuff. People have more money, less debt, and are less likely to be wage slaves. They might even start to realize that Christine LeGunge is a useless 2@ who just wants to enslave the masses.

Dreadful.

[SpontaneousOrder]

Nothing wrong with deflation. Just use negative interest rates.
It's only an ogre because it would break the current ponzi economy.