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Deleted member 4301
That's life
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So the end result is that people who wanted to save money that they would normally spend can't do that. But they're only saving money 'just in case' something bad happens to them, in which case the Feds will give them cheap money.The federal reserve isn't the reason why people have to wage slave their entire life.
If you don't want the value of your money to be obliterated by inflation, put your money in assets.
Its like this:
There's a classroom of kids (that's the general population) who all have some number of jelly beans (money). They get rewarded with jelly beans through various activities, and some are better at getting jelly beans than others. Some activities require god-given talent, which makes some kids very jelly bean-rich, and some activities are more of a grind, but possible for the normal kids which provides them with a steady supply of jelly beans.
Its also a closed system - they only trade jelly beans with each other, so have to make reasonable decisions about what things are worth giving up jelly beans for.
Suddenly a shock comes to the steady supply of jelly beans (covid). The kids which relied on a steady supply of jelly beans are now fucked - they need jelly beans (for their blood sugar, say) but no one wants to give any up because they fear that things might get even worse so they stock up on jelly beans (irrationally) even though some people need them. The key word here is irrational. There needs to be some impetus for the kids stockpiling jelly beans to give them up, because emotion has gripped them and they are being extremely risk averse. They aren't spending any jelly beans, and some kids relied on them spending those jelly beans, even for things they didn't truly need but enjoy.
So then what's going to happen to those kids who need jelly beans right now? Well it depends on the jelly-bean rich kids. Some of them might be good natured, and offer the poor kids some jelly beans and ask that they pay it back at a reasonable rate in the future. Even though money is tight, they extend them a lifeline. But some of the kids are predatory and bad natured. They are your typical Jew :
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Who see a great opportunity to profit from the desperation of others. They say that they'll give jelly beans, but in return they ask for very valuable things. Maybe a kid has a watch that his grandad managed to hold throughout world war 2. "If you want jelly beans, give me that watch".
And other kids are your brutes - they'll give jelly beans at very high rates, and if the kid doesn't pay it back in the future they'll beat them until they do.
Some kids will reasonably argue that they don't owe the poor kids anything. They worked hard for their jelly beans, and if someone wants jelly beans now, then find a way to offer value or perish. This is a hard capitalist argument which it looks like you are suggesting.
In order to prevent this large variation of outcomes, the teacher steps in and offers the poor kids jelly beans at a reasonable rate. This is the Federal Reserve. So now there are more jelly beans in the system, and if people can't pay back the teacher (default), then there will be more jelly beans circulating and inflation will occur. But you'll only feel the effects if you don't spend your cash savings.
So if you don't want to get hit by inflation, take the risk of lending your money, or provide opportunities for people to earn money. IE pay builders to build you a rental property.
Its reasonable to not want to be forced into spending your money because of the fear of inflation. After all, some of the people who desperately needed cash were the same people who spent their money on ridiculous shit they didn't need before covid.
But a lot of them were people making an honest living providing things that you would want in most situations. These are your bartenders, waiters, or anyone that works in an industry that isn't completely necessary.
So the reason people have to wage slave their entire lives is because they aren't prudent with their money, and they spend it on useless shi, or they are happy with making enough to pay for a house, medical, etc, and don't look for better ways of making cash. So when things like covid happen they have to take loans, and are committed to working more.