Comments by "josh fritz" (@joshfritz5345) on "Pete Judo"
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@vfwh If I have 50k saved up, then the government prints a ton of money, doubling the money supply, my 50k dollars now only has 25k worth of purchasing power. Even if I got a raise and make twice as much money, I'm still out 25k dollars that I had saved up. Inflation is a tax on savings.
The whole point of a commodity backed currency is to tie the value of the currency to a real world item so that there is something more than simple confidence in the currency to keep people's trust in it. It is way harder to create inflation in a commodity backed currency as long as that commodity is very difficult to replicate at scale. For example, gold is finite, so any currency backed by gold at a fixed rate will retain its value forever, or at least so long as it can still be exchanged for gold at the same fixed rate.
To put it very simply, inflation taxes people's savings, devalues debts and messes with the economy in other ways too. These negative effects disproportionately harm the middle class (rich people hold assets which are generally inflation proof, and may even gain value, such as land and stocks), so lowering or eliminating inflation is desirable to maintain a strong middle class with good upwards mobility.
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@Llortnerof More expensive, yes, worse, no. The quality of care is generally as good or better than anything in Europe, with some exceptions. Sometimes new drugs don't get approved due to corruption/ enforced monopoly for a competing, inferior drug.
American health care is extremely expensive due to, frankly, corruption and lobbying of the medical industry. The US health care system is what is called a "public private partnership" which is a nice sounding way of saying the government enforces a monopoly of the industry on behalf of "private" companies.
This system has the superficial appearance of a capitalist system since private companies are the primary forces behind it, but in reality, it is much closer to the psudeo socialist system used by the armband enthusiasts and bad spaghetti man from the world war sequel. The corporations are private in name only, they are basically extensions of the state in every way that matters.
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@gustschina7558 I won't say that AI is a non-factor, it absolutely doesn't help the situation. However, there's another reason many people are unemployable. A lot of college graduates have completely useless degrees for fields which are over-saturated with workers, or which have very few career opportunities. This is compounded by the fact that they need to make more than non-degree holders to pay off their debt, meaning they demand higher salaries despite having no useful skills and no workplace experience.
I don't blame these kids, not really. They were lied to, told that they'd have a job lined up for them once they got their degree. They didn't realize how bad a situation they would be putting themselves in by going 40k into debt for a piece of paper, because their entire high school experience was teachers and staff telling them they needed to do that to succeed. But now it creates not just a crisis for these poor kids, it also creates an entire generation of debt slaves who are virtually unemployable, refuse to take entry level jobs, and have no work experience to get a better job. And if these kids have their way, I'll be paying their debt for them via taxes.
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