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Cake day: July 22nd, 2024

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  • From what I understand, we’ve already pushed the limits of option 2 during the Housing Crisis and COVID. Printing more money is talked about as though it’s impossible without causing more harm than good.

    The neoliberal claim that the amount of money printed directly influenced inflation has been tested and couldn’t be proven so far.
    Hyperinflation is either caused by too much demand or too little supply of goods, or by greedy fucking billionaires price fixing.

    They still keep making that claim and neoliberal governments (pretty much all of them) still act on it because it makes rich people richer. Nations sell their public infrastructure or make other bad deals to beg private actors for money, those earn interest and dividends.

    As long as the USD is the de facto world currency it also seems highly unlikely that any amount of money printing would hit it’s value too hard. There’s always demand for dollars. On the other hand, Trump is working hard on incentivizing the world to use different currencies.














  • Apart from this guy obviously being biased and a super villain: Nobody who held this opinion was ever able to even give me a rough idea of an explanation how it should supposedly damage the economy. The excessively rich don’t spend most of their wealth (which would induce growth through demand), they sit on it and watch it grow. Taxing it takes not a single cent out of the economy.

    In this case we’re looking at proposed 2%. The fortunes of the excessively rich grow by 10% and more in a year. So with this tax they would still get richer and richer. Attach another zero to that number, then we’d be getting somewhere.