QUOTE(sensualaoi @ Mar 12 2022, 10:28)

Inflation and "fist" currency are just boogeymen for the right. All money is imaginary thing that we made up.
They mafter less than you think because of America's unique position it could decide not to pay off foreign debtors and nationalize everything and people would have to accept it because of the overwhelming might of the US military.
You are not super bright. There is a huge alliance of countries currently about 40% of the world GDP that are developing plans to move away from the USD if they screw over their economy hard enough like 2008. In fact Joe Biden is shitting his diaper now because he found that many countries are just ignoring his pleas for support.
If the USD loses the petro-dollar and world reserve status your country will collapse under the massive debt. If other counties are unwilling to loan to the US, you will either have to massively cut back spending on 'luxuries' like welfare (because poor voters lack the money for lobby groups) or print money and the inflation will hurt the poor 99% the most.
Did you mean fiat currency? The problem is that it can decouple spending from economic reality and then you can spiral infinitely into a mess. Did the US use its massive spending power and borrowing power on infrastructure and improving GDP? For a while, but now its more like it all goes to cronies and enriching elites.
QUOTE(sensualaoi @ Mar 12 2022, 10:28)

Once you decouple the existing currency from meeting peoples' basic needs and wants then inflation mainly hurts the extraordinarily wealthy who have a lot saved already after rigging the system. They don't want you to think about that truth. As long as social programs are being passed inflation doesn't matter.
Also, too many morons believe there wouldn't be inflation coming out of lockdowns and pandemic/recession. Every time the economy accelerates from rising demand you tend to get inflation.
Its almost like 2008 never happened? People, businesses and governments have taken on loads more debt, in America and Internationally. Excessive debt is like a bomb that can go off. If they have to raise interest rates excessively to deal with excessive inflation
So you are saying 'once people own nothing they will be happy'? Even if we will live if the fantasy welfare utopia with breadlines, minimum housing and low quality of life, those things still cost money and are fairly shite because those systems did not fund social programs very well because they could not afford them.
Printing money to pay for welfare tanks living standards pretty fast.
QUOTE(sensualaoi @ Mar 12 2022, 10:28)

Inflation isn't inherently bad when it is spent on good investments like improving medical system, infrastructure, education, housing, or ending malnoutrishion. It's then an investment that often pays itself back.
I think you mean inflation caused by printing money. They aren't investing much in good investments though. Most of it is crony capitalism, partisan spending and servicing the excessive debt.
Lets see what good things they spent on with the latest 1.5 trillion that was completely printed:
- Military industrial complex (6%)
- Establishment Domestic agencies including creating new agencies (16% - a huge increase)
- Hiring climate resilience-focused staff
- Welfare payments to democrat cities affected by coal / gas / oil permit cancellations
- The defense department also got a bonus 3% increase to make their killing more sustainable and 'green'.
- 12% increase to staffing for the study of how to make the US more energy efficient and use more renewable energy.
- A load of funding to big pharma research
- Big funding to the CDC post pandemic and huge 20% bump to funding intiatives to produce advanced vaccines eg creating new super pandemic viruses to study how we can deal with pandemics from super viruses. Please GOD do not outsource again you mother fuckers.
- Huge boost in funding to the IRS to crack down on dirty poors and their microtransactions and crypto spending.
- Huge boost to Police funding
- Huge boost to boarder patrol staffing.
- Huge boost to help California and other left states deal with their forest management to prevent fires
- Huge boost to homeland security to fight 'domestic terrorists'
Actual Infrastructure?:
- 17% boost for 'climate resiliency and greenhouse gas reduction 'efforts' so staffing to develop projects for airports, highways, rail and other transport projects. Much of that being staffing of green people I guess.
- Money to cover costs of the Indian health service. Too much money was squandered by the two big families so they needed a bail out. The bill is for funding for the 574 tribes but... will be managed by the Navajo and Comanche. Nothing suss. I am disappointed that Elizabeth Warren was not appointed to run the scheme.
Imagine if those two tribes actually put the 90% of casinos they control to use to fund services in the other communities like promised? Cheaper to hire lobby groups I guess.
In other words, very little of the 1.5 trillion actually goes to increasing GDP. It creates jobs in federal agencies, defense spending and taxing the poor. They must be worried about their own radicals or trumptards flaring up so they have funded all the police sending gaps they created.
Inflation hurts the the 99% before it hurts the 1%. The 1% are usually hedged against inflation, their assets may even benefit. Due to their wealth being international for many of them, they can also benefit from currency devaluations effectively reducing their debt.