Seems like people would still need to spend their money for necessities and bullshit trinkets, though the effect would be significantly muted and bankers would get absolutely buttfucked. I don't see a downside here.
Discussion
there a big spectrum between the speculative gambling we have under inflationary conditions
and a strictly deflationary situation.
it becomes as deflationary to the same extent as people's economic output is increasing.
and ok, bankers get fucked
but so does everyone else
maybe there could be some externalities that make it work
but its crazy to think its a surefire thing without big problems
Let's just isolate it to a strictly deflationary environment, for the sake of conversation. How is deflation not a great thing for everyone who works?
Also, I'm not blind to the fact that the transition is going to cause a lot of turmoil and a lot of people are going to lose.
because economic activity slows in a deflationary environment.
people will only buy what they absolutely need at that moment.
that is not a great thing.
the irresponsible inflationary enviroment we have today is insane.
but so is a purely deflationary situation.
So, rampant mindless consumerism dies as a cherry on top of banks getting cornholed and workers getting to keep the value of our labor? Brother, I think we are going have to agree to disagree on this one.
No bro.
there is a huge spectrum between rampant mindless consumerism
and a totally stagnant economy.
maxis act like its fucking binary because we've had inflationary conditions and that deflation can ONLY be positive.
its not
its lazy armchair economic thinking.