Comments by "Charles Brightman" (@charlesbrightman4237) on "MHFIN"
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US FED: Economic Inflation: Lessons learned:
The US Fed has a goal, I repeat 'goal', of 2% annual inflation. And this is on top of all the 2%'s that came before it, which turns out to be an exponential amount of inflation over time. (Compounded Economic Inflation).
Most people do not have wages, benefits and investments that keep up with the true cost of inflation, which causes many social and economic problems in this nation and in this world. Zero income is sill zero income and zero pay raises are still zero pay raises. This is also a NATIONAL SECURITY item as many nations in the world stop utilizing America's currency as a reserve currency due to in part America's currency being weaker in this world. America has less influence in this world, which allows other nations in this world to take the lead.
As a nation becomes greater, it's currency should be able to buy more, not less.
Higher inflation:
* Obviously higher prices.
* Also at times lower quantity.
* Also at times lower quality.
(And if not lower quantity and/or lower quality, then that much more higher prices).
Many rich people and large corporations have taken America's wealth and hid it in out of country bank accounts and/or invested that wealth in other nations for various reasons. This has the net effect of basically stealing America's wealth from America.
Now also, rich people and certain businesses operate on huge debt, and even the US Government operates on huge debt. These entities love higher inflation because it helps to wipe out their debt, as they pay back their debt with currency that is worth less (worthless). Additionally, things like saving's account's get next to nothing for 'normal' people trying to save money for future expenses. Those that are operating on debt get rewarded and those trying to be more financially responsible are getting punished.
America's currency system is broken and needs to be fixed.
In part, a law needs to be passed that the US Fed has to have a 'goal' of 0% (zero percent) inflation. Sure, this is going to piss off those who game the financial system, but it would help with curing some of societies' issues as well as strengthening US currency thereby strengthening America's position in this world as more nations would want to utilize the US Dollar as a reserve currency. Inflation is still going to occur due to various reasons, but we don't have to automatically have a goal of increasing inflation.
Another idea might be to give the US Fed just 1 single job: Control Inflation, (and take away their other job of trying to have full employment). Let the markets control full employment.
And for any entity that thinks economic inflation is a 'good' thing, then you must also be okay with many of life's social and economic issues as well as a nation becoming weaker in this world as it's currency eventually loses value in this world. You must be okay with poor people suffering and dying due to higher economic inflation. In part, at least some of this world's suffering and death is on you. You caused this with your higher economic inflation goals. (A man made problem and can have a man made fix with 1 simple change. Change the US Fed's economic inflation goal from 2% to 0% which would help ease suffering and death in this world.)
And if you still say that 2% inflation would be fine, then surely you would not have a problem with making a Federal law that says that all businesses all across America are mandated to increase their employee's salaries by at least 2% every year, (the 2% just keeping up with inflation, any above 2% due to the increased value of that employee).
Otherwise, it's a system set up by the rich to transfer wealth from the middle class and poor to the rich. And if the middle class and poor do not stand up for their own interests against the rich, who will?
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ECONOMIC INFLATION:
The way I see it is that regardless of the currency utilized (gold, silver, fiat, crypto, etc), economic inflation is still economic inflation. ANY economic inflation over previous economic inflation, overtime, eventually becomes exponential economic inflation. If an entities' wages, benefits and investments do not keep up with the true cost of inflation, then the entity falls behind in buying power and becomes poorer. A nation will eventually fail as will a global economy will eventually fail with ever increasing economic inflation because most people do not have wages, benefits and investments that keep up with the true cost of inflation. And this includes businesses as well. They also get zapped with ever increasing economic inflation. Math is still math and compounded economic inflation is still compounded economic inflation.
You want to help the nation and the world? Change the US Fed's economic inflation goal of 2% every year to 0% every year. Also, can possibly take away the US Fed's dual mandate of price stability and maximum employment to just having them take care of price stability. Let the markets take care of employment. Does anybody think the US Fed can take care of even that single issue all by itself? Price stability or bust?
And as a nation gets greater, shouldn't it's currency be able to buy more, not less?
And as people bought more, more would have to be produced, which would possibly mean more jobs, which could provide more income, which could buy more things, which would possibly mean more jobs, ............
Additionally:
Space travel, the ONLY thing that will save any species on and from this Earth to continue to exist beyond this Earth (all species who are 'left behind' on this Earth will eventually die and go extinct), has gotten more expensive just in my lifetime. What is space travel going to cost in the next 100, 1000, 1 million years from now? Economic inflation just might be a contributing factor to all life on and from this Earth dying and going extinct. And we did it to ourselves, or more correctly the US Fed did it to us, including themselves. And they are supposed to be the 'smart' ones. There is more to life than money alone. First one has to have conscious existence for that money to have meaning and purpose to.
LIFE ITSELF, LOVE AND MONEY
There is something greater than Love and that is life itself.
For without life itself, there can be no Love.
There is something greater than Money and that is life itself.
For without life itself, Money loses all meaning and purpose.
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@foodhoarder9434 Well, the way I see it is that regardless of the currency utilized, (gold, silver, fiat, crypto, etc), economic inflation is still economic inflation. ANY economic inflation over previous economic inflation, over time, becomes an exponential amount of economic inflation. "IF" people's wages, benefits and/or investments do not keep up with the true cost of inflation then they become poorer over time as far as buying power of the currency that they have is concerned. They would have to work longer hours and/or more jobs just to keep up with their previous lifestyle. And this does not even include any new technologies or other items that they might desire that they did not have beforehand.
The US economy is destined to fail due to higher economic inflation upon previous economic inflation, (compounded economic inflation). Especially with the Fed's 2% annual economic inflation goal which is 2% on top of all the 2%'s that came before it and most people not receiving at least 2% annual increases in their pay, benefits and investments. Math is still math.
Or so how I currently see reality here in the USA and upon this Earth.
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Consider also, the US Fed has a target of 2% inflation every year. But that is also 2% on top of all the 2%'s that came before it, which turns out to be a lot of inflation over time.
Now first, if people's wages, benefits and even saving's account interest do not keep up with the true cost of inflation, they fall behind in buying power, and zero income is still zero income. But with economic inflation people would have a higher economic mountain to climb. They eventually could become economic slaves to the larger economy. And slavery was supposed to be done away with at least here in the USA. It seems it has been replaced by a system of 'economic slavery'.
Second, space travel, the ONLY thing that might save any species from this Earth, has gotten more expensive just in my lifetime. What is space travel going to cost in the next 100, 1000, 1 million years from now? Economic inflation just might be a contributing factor to the demise of all life from this planet Earth. And we did it to ourselves. Or more correctly the US Fed did it to us all, including themselves.
Instead of talk like doing away with the penny, they should actually be trying to bring back and maintain the value of the penny. And then have a target of 0% inflation annually. Otherwise, we all eventually die one day from something and go extinct, which is probably going to occur anyway, but without economic inflation, we would have a better chance of surviving. With economic inflation, less so.
What good is life if there is no entity left to live it? What good is money if there are no entities left to spend it?
Survive beyond this Earth, solar system and galaxy, OR die and go extinct. Those are the choices, (if we even actually have a choice). Currently, no exceptions.
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@sapienscircus9404 Many are. What good is life if there are no entities left to live it? (Of which, as spread out as even the human race is upon this Earth in various environments, surely some humans will probably survive).
What good is money if there are no entities left to spend it?
And what good is money if one cannot access that money to spend that money?
Even people who invest in gold, silver, etc: Do they actually have that gold, silver, etc, OR just a piece of paper or electronic file saying they have gold, silver, etc?
"The best way to deal with absolute truth reality is to deal with absolute truth reality. And if one is not dealing with absolute truth reality, then one is not dealing with absolute truth reality. Find and deal with absolute truth reality." (OSICA)
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