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The left has been warning about this for the last decade and all we got was “stop buying avocado toast”. Sound money doesn’t fix unequal distribution of opportunity and economic power.

An Capone 🌗 2y ago

It's not avocado toast. It's Avocado toast, multiple streaming services, taxis, expensive trips, excessive psychoactive substance use (including alcohol), overpriced coffee, fast fashion...

However yes, sound money doesn't fix unequal distribution of opportunities and power. That's because that is not the thing to fix, because that is the natural way of how things are and have to be. (unless you take drastic measures to bring down the better equipped, more motivated etc.)

Sound money is a tool to fix the cleptocrats from stealing from everybody under the hood via inflation (of the monetary supply), to only allow them to steal openly through taxation.

The left had been saying a lot of good and necessary things for decades or even centuries. Economic issues were never any part of that.

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Discussion

Moon 2y ago

The part where you blame millennials for enjoying literally anything: DISAGREE

In fact, inflationary money compels any holder who is lacking in a gross excess of cash (to afford things like stocks and real estate) to SPEND because the money cannot be saved with any real confidence. And when people cannot spend on things that hold value, they will spend on things that make their lives less crushing. It is also the case that inflation has and is stealing the vast majority of productivity gains that should otherwise be being enjoyed be society.

Because of this, many Gen X and Millennials are pushed into situations of working more to receive less, rather than the other way around if productivity gains were distributed properly across society.

Everything else tho: BIG AGREE. We should be seeking an equitable money system (that this results in a far more equitable distribution of money in society) but this will never and should never be and even or “equal” distribution.

An Capone 🌗 2y ago

I am not saying people shouldn't enjoy anything. I qm saying they shouldn't zhrow away money on ALL of the unnecessary things and then proceed to cry they have no money.

Noone is poor, because they have an avocado toast every now and then. or because they buy a piece of clothing they fancy. Some people just don't seem to be able to figure out. thst expenses add up and that if you spend a little all the time, it adds up to a lot over time. That is what I am saying.

Regarding your second paragraph, I have a major issue with your assumption, that you need a lot of excess liquidity to make it work. You can start trading with $50. Literally anybody including kids can save that much relatively easily. Starting your own business or investing into real estate do require several orders of magnitude more money (not always, but mostly yes, but stocks, indexes, crypto, or forex are all quite cheap to enter and each and every one of them is likely cheaper to enter than a typical millenial in the 1st or 2nd world spend on unneccessary things every single month. By this point, this is likely to applyto gen Z as well.