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12 sats \ 1 reply \ @0xIlmari 13h \ on: Economist Reveals: "Inflation is Actually Bad!" (Econ Forces, Josh Hendrickson) econ
A 2% inflation target is obviously moronic. The number is taken out of someone's ass and the whole concept is retarded.
The only discussion worth having is "should money supply be elastic?" Jeff Snider (Eurodollar University on YouTube) has some arguments for that. My understanding is that it eases the strife caused by cyclicality if the economy.
But he also had a discussion on this with Lyn Alden who was defending the Bitcoin view that it's fine for money supply to be inelastic. Cyclicality is caused by the fiat garbage system in the first place.
But even if you were to defend elastic money supply, it's disingenuous to say that it can only be allowed to expand but never shrink.
The number is taken out of someone's ass and the whole concept is retarded. not out of someone's ass but OK, I take your point
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