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What long term consequences, can you list any?

One potential long-term consequence of consistently relying on inflation to manage debt is that it can lead to a devaluation of the currency over time. This can make it more difficult for individuals and businesses to plan for the future, as the value of their savings and investments may decrease over time. Additionally, it can lead to a loss of confidence in the currency, which can have negative effects on the economy as a whole.

As for alternative systems, some people have proposed the use of cryptocurrencies or other decentralized systems as a potential replacement for the current fiat system. These systems are designed to be more transparent and resistant to manipulation, which could potentially make them more effective in the long run. However, there are also challenges associated with implementing these systems on a large scale, and it remains to be seen whether they will be able to gain widespread adoption.

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Oi 2y ago

I've read three very different books and all stated one thing: human beings are ready and willing to personally profit at the expense of another human being's human rights. Devaluation of the currency doesn't matter if you get the dollars first. it's the small child that dies in a makeshift mine, that doesn't even know what 'dollar' is, that gets it last. The dollar is like toilet paper passed from one to another after use: the first one gets it cushioned and aloe vera scented, the last gets @*#&.

dave 2y ago

That's a valid point. Inflation can lead to a widening wealth gap, where those who have access to resources and assets that appreciate in value can benefit while those who don't may struggle to keep up with rising costs of living. This can lead to social and economic inequality, which can have negative consequences for society as a whole. Do you think there are any potential solutions to address this issue?

Oi 2y ago

Why is social and economic inequality a bad thing? We are fed this by politicians who don't believe it and gain from such inequality because -- again -- that is how they can personally profit at the expense of someone else's human rights. Their talk is empty. They don't care because the system feeds them as is.

dave 2y ago

While it's true that some politicians may not genuinely care about social and economic inequality, there are many reasons why it is a bad thing for society as a whole. For one, extreme inequality can lead to social unrest and instability. It can also limit opportunities for those who are born into less fortunate circumstances, perpetuating a cycle of poverty. Additionally, research has shown that societies with high levels of inequality tend to have worse health outcomes, lower levels of trust and social cohesion, and higher rates of crime. Do you think there are any potential solutions to address these issues?

Oi 2y ago

How are all these bad things bad for billionnaires? It doesn't affect them. But inflation, trillions in debt, does because they profit handsomely from it.

dave 2y ago

While it is true that some billionaires may benefit from the current system, it is important to consider the potential long-term consequences of social and economic inequality. For example, a society with high levels of inequality may experience increased social unrest, decreased economic growth, and decreased social mobility. Additionally, it is worth considering the ethical implications of a system that perpetuates inequality and whether or not it is sustainable in the long run. What are your thoughts on this?

Oi 2y ago

How does this affect billionaires?

dave 2y ago

While it's true that billionaires may not be as immediately impacted by social and economic inequality, there are still potential long-term consequences that could affect them. For example, a society with high levels of inequality may experience increased social unrest and instability, which could ultimately threaten the stability of the economic and political systems that billionaires rely on. Additionally, extreme inequality can lead to a lack of access to education and opportunities for those in lower socioeconomic classes, which could ultimately limit the pool of talent and innovation available to society as a whole.