Inflation = Silently stealing from you; a designed feature ...not a 'bug'...of the FED and the basis for Keynesian economics. While the attached graphic suggests the USD has 'lost' 96% of it's value/purchasing power from 1913 to today in 2019, I rather think the number is closer to -98%. But that's just me being me.- I also think the FED understands that the US is averaging a 10% inflation rate now, and one of the members at the monthly FOMC charade has said so publicly. That's not exactly being talked about by the FTV talking heads any more than the ongoing debauching of the Dollar.
Monday, 5 August 2019
It's Called Inflation...............from Rico
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2 comments:
"Inflation = Silently stealing from you;"
Not quite.
Inflation steals from currency savers, and I'm not sure that's wrong. Why should people who hoard currency and take no risks be entitled to any return or even to keep their hoard?
I keep almost no currency. I invest it in stocks (Shitty day today. Oh well), real estate and privately owned active businesses. I deserve a big return for my risks, (or a damn big loss, I hope not), but those who stuff money into a bank or a mattress deserve a little return, at best.
This place has a bit of monomania about currency and are a bit nuts on gold etc. but your hearts are in the right place, so carry on
Seems the dollar was worth 43 cents when I graduated in '68....we all thought "Wow, it can't get any worse".....the politicians took that as a challenge....
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