Inflation

[Money & Finance]

Consumer prices edged up 0.1%, according to new CPI data. That effectively cancels out the wage growth from June. 

But you already knew this.....

[LNN]

That was nothing... check this out!

[LNN]

[TheWorldNewsOrg]

The effect was a confiscatory tax on these victims. John Maynard Keynes, who later rightly or wrongly was adopted as patron saint by inflationary governments, excoriated them on this occasion:

"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they can not only confiscate, but they confiscate arbitrarily ... "

[TheWorldNewsOrg]

Adolf Hitler, whose economics were far more astute than those of the government's economists, shared roughly the same view of the inflationary government confiscators with Lord Keynes:

" ... once the printing presses stopped — and that is the prerequisite for the stabilization of the mark — the swindle would be at once brought to light ... the State itself has become the biggest swindler and crook."

Despite the obliteration of the wealth of millions of individual Germans, the inflation was merely a transfer of their wealth, like any tax, and not in any sense a destruction of wealth. For every German's total loss, there was an equivalent gain to some other German debtor or to Germany as a whole, through the discharge of their debts.

https://recision.files.wordpress.com/2010/12/jens-parsson-dying-of-money-24.pdf

[TheWorldNewsOrg]

I don’t think people understand how fast you get poor with 5% inflation (“official” #). It is financially devastating. Also, inflation isn’t 5%.

I see tons of things going up 20% year over year.

I REALLY don’t think people understand how fast they get poor at 20% inflation.

[TheWorldNewsOrg]

 

[TheWorldNewsOrg]

 

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