Comment on THE CLASS WAR IS BACK, BABY!
turnip@sh.itjust.works 3 days ago
The money supply now grows at 10% a year. People leverage into real estate because housing always goes up as currency goes down. The farther you were born from the gold standard the poorer you will likely be.
DragonTypeWyvern@midwest.social 3 days ago
The gold standard ended in America during the Great Depression, and deficit spending with a fiat currency helped end the problems Wall Street’s short sighted greed caused.
Inflationary policy has its problems but the vestigial remains you’re referring to ending in 1970 didn’t mean anything compared to the rise of neoliberalism.
turnip@sh.itjust.works 2 days ago
They excluded housing appreciation from the CPI in the late 80s, created 30 year loans, massive bailouts adding to moral hazard; I agree its neoliberalism, deregulating the money supply growth made people over leverage to profit off the cantillon effect, obviously leading to asset bubbles.