One of the most insidious & absurd ideas that the counterfeit class has convinced the average person of is that more affordable prices is bad for the economy.
It's a testament to the power of propaganda that such an idiotic & obvious untruth could be widely accepted.
#bitcoin
"counterfeit class"
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Iβve literally never heard the average person say such a thing.
Ever heard anyone say "deflation is bad for the economy"?
Never once in regular conversation with average people.
I have read occasionally in the financial press or in my macroeconomics classes how falling prices, after a certain point at which they become too much of a good thing, de-incentivize production of goods and services. That makes sense to me. For example, why would I go to all of the trouble to manufacture, market and distribute the next great hardware wallet if I know that its retail price will fall week after week? First, falling prices will eliminate my profit margin, next my ability to even recoup the costs of the labor and materials to produce it? Iβd be better off not making anything. Fine for me, initially, but translated across all of commerce, we become a world of HODLers sitting around doing nothing until the power is finally shut off.
Itβs my view but Iβm willing for you to convince me otherwise. I own Bitcoin and I try to have an open mind.
People who think this don't understand the proper order of the sequence of events in a deflationary scenario.
They think that if prices go down, then there's no reason to invest, so the economy stagnates and contracts.
The problem is that price deflation is a CONSEQUENCE of the economy expanding. It manifests only after the economy has grown, not before. And the economy only grows if and when investments produce a positive return.
In effect, their argument is "with a constant supply of money, the economy shrinks if the economy grows"
Doesn't actually make sense.
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Itβs so absurd if you think about it from first principles outside of the fiat/debt box
Gas lighting and inflation laundering, essential skills for the fiat economy
Gas lighting and inflation laundering, essential skills for the fiat economy
