Depends on your school of thought and by what metric you use to measure an economy. Deflation is catastrophic to debt based systems.
We know, that's why we Bitcoin.
The goal is not to drive the Lambo... it's to stop the erosion of our purchasing power and remove the power of the central banking system. Full stop.
Perhaps you are too young to understand the implications, but real wage growth stopped in 2001 and the affects of our exploding monetary system has been the erosion of the middle class and the expansion of government.
If you're measuring the economy based on GDP alone, then yes. Inflation is good.
But if you stop to consider the deteriorating quality of life form the middle class... the answer is obvious.
GrumpyG / GrumpyGardener
npub159w…csm3
2024-06-02 17:32:32
in reply to nevent1q…0zms
Author Public Key
npub159wczz79n0x95p4vq5rggdkhz36u3852n8xfwv3u4ehdylrnr97qnpcsm3Published at
2024-06-02 17:32:32Event JSON
{
"id": "136d2de68a746825f3b8b13c2ccc36cac7b381ac942b74d51cc4e2c64259cd50",
"pubkey": "a15d810bc59bcc5a06ac05068436d71475c89e8a99cc97323cae6ed27c73197c",
"created_at": 1717342352,
"kind": 1,
"tags": [
[
"p",
"f675fd2c3e396ee74f88dc7fa16d094a6f1d17ec79c89e3a55a2ae9fdf148bcc"
],
[
"p",
"f985d309197c805e1719c73185b574fc3ee407d7c1b6157dee99c6ace2599bbb"
],
[
"p",
"2efaa715bbb46dd5be6b7da8d7700266d11674b913b8178addb5c2e63d987331"
],
[
"e",
"d2fdce0707fba58c8c1fb0716cee422e0e1dcf085c681c084e7f90ee3ea34be0",
"wss://relay.nostrati.com",
"root"
],
[
"e",
"a5375aea4b6c55e4770e93cd2973e5d2178c6b8af651efaad1abb7d7b314a429",
"wss://relay.nostrati.com",
"reply"
]
],
"content": "Depends on your school of thought and by what metric you use to measure an economy. Deflation is catastrophic to debt based systems. \n\nWe know, that's why we Bitcoin. \n\nThe goal is not to drive the Lambo... it's to stop the erosion of our purchasing power and remove the power of the central banking system. Full stop. \n\nPerhaps you are too young to understand the implications, but real wage growth stopped in 2001 and the affects of our exploding monetary system has been the erosion of the middle class and the expansion of government. \n\nIf you're measuring the economy based on GDP alone, then yes. Inflation is good. \n\nBut if you stop to consider the deteriorating quality of life form the middle class... the answer is obvious. ",
"sig": "28e411e0d052a729737b01275cc6e11ef6dcc3fa53cbbfa535a89c600352e82aad9123d3f3922f01b4cddfe3afd76f6349064daf206969f2ea2681c09b1ebb2b"
}