Inflation has many definitions in academia.
To put inflation in simple terms, it is the rise in prices...that’s what I have learned and we all learn in school.
The popular definition cannot explain why inflation is bad news.
“Again, despite all the assertions regarding the side effects of inflation, mainstream economics doesn’t tell us how all these bad side effects are caused. Again, why should a general rise in prices hurt some groups of people and not others? Why should a general rise in prices weaken real economic growth? Alternatively, how does inflation lead to the misallocation of resources?
It is not the symptoms of a disease, but rather the disease itself that causes the physical damage. It is not a general rise in prices but an increase in the money supply that inflicts physical damage on wealth generators.”
And few understand the following and I quote James Lavish:
“If you work 40 hrs/wk: at 5% inflation and after 5 years, you need a 28% pay raise or to work 44 more hours (*one full extra week* per month+) to make up the difference. This is inflation.”
The definition of inflation according to Brittanica is:
“Inflation (economics) - collective increases in the supply of money, in money incomes, or in prices.
The problem is that it is impossible to predict what inflation will be like in the future while the creation of money is controlled by the Federal Reserve / Central Banks / Governments.”
Bitcoin is fair and ethical. Proof of Work distributes coins based on the only thing that can never be cheated, hard work! Rather than be at the mercy of the US dollar’s unknown future inflation rate, you can opt into a system in which the inflation rate is known and predictable.
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
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Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
Credit video: unknown 🧡🙏🏽
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