Memes

45596 readers

1265 users here now

Rules:

Be civil and nice.
Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.

founded 5 years ago

MODERATORS

[email protected]

302

Yeah but the economy is doing great (media.kbin.social)

submitted 7 months ago by [email protected] to c/[email protected]

46 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 2 points 7 months ago (1 children)

Fuck it, ill bite. I'll either have something else to consider or a better prepared argument for when someone argues with me next time.

Let's start with the fact we have 5% inflation in my country, down from ~8% as we push up interest rates and deliberately drive down GDP including to -0.2%.

Oh, and I'm not from the US so fed means nothing.

[–] [email protected] 1 points 7 months ago

I believe every country has fiat currency, so you have your version of the fed. Also dont trust the number they give you for inflation, its bullshit.

So in the US, the money is created via the federal revserve and it is done by loaning out money, the only reason inflation rate decreases is that they raise the interest rate so people want less money, so they loan out less money. That money is paid back to the fed, but new money has been made. If you are still interested, I can tell you how this takes away wealth from the poor and middle class.