Comment on A Huge Number of Homeowners Have Mortgage Rates Too Good to Give Up
CableMonster@lemmy.ml 7 months agoThank you for asking, as for the above example, the rates that people have on mortages are due to direct government manipulation of the interest rates and the money supply in general. As far as the other things, the big one would be the inflation they cause with harm to the middle class and poor.
kandoh@reddthat.com 7 months ago
Quick question. How often did economic depressions occur before giving the government control over money and moving off the gold standard, and how many have we had since then?
CableMonster@lemmy.ml 7 months ago
This is one of those unfalsifiable statements that is just used to mislead. I dont know how to answer the question.
Why are you okay with the rich getting richer at the direct expense of the poor and middle class?
kandoh@reddthat.com 7 months ago
Since moving off the gold standard there hasn’t been a single economic depression. The quality of life for the poor and working class has skyrocketed. The government was able to fund big public works projects like dams, bridges, and highways.
You know who wants to get back on the gold standard? Oligarchs and Aristocrats. People who keep large amounts of liquid cash stored away absolutely hate that they can’t hide their money somewhere and have it still be worth the same amount years later. They’re forced to invest it to keep it productive.
CableMonster@lemmy.ml 7 months ago
The problem is I dont know what you mean by a depression, we have had a series of recessions, and we are kicking the can down the road. And most of the dams and bridges were made BEFORE we went off the gold standard.
The problem is that you are just repeating modern monetary policy talking points and you probably will just hand wave away all these charts to some other random thing. But what you should notice is how poor people are having a hard time affording food and housing and other basic necessities. And to pretend that fiat currency isnt exactly what the rich want is just silly and makes no sense.