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   Ian Betteridge (ianb@mastodon.well.com)'s status on Monday, 27-Jan-2025 10:09:30 JST Ian Betteridge

   • Stevan

   @withaveeay Oh that is a really good comparison.

   • Embed this notice
     Quinn Norton (quinn@social.circl.lu)'s status on Monday, 27-Jan-2025 10:09:29 JST Quinn Norton

     in reply to

     • Stevan

     @ianb @withaveeay it's not though because deflation is SO MUCH WORSE than inflation. It's worse than hyperinflation. It just shuts the economy down.

   • Embed this notice
     Quinn Norton (quinn@social.circl.lu)'s status on Monday, 27-Jan-2025 17:35:56 JST Quinn Norton

     in reply to

     • Stevan
     • Phil Stevens :tinoflag:

     @phil_stevens @ianb @withaveeay absolutely. It helped create this generation of idiotic hyper wealth, and it still was worth it to avoid everything grinding to a halt. Then we just let the bail outs transition straight into robber barons ala gilded age and this is going to go so badly. I wish I could explain to the rich that a 95% marginal tax rate, including capital gains, is actually for their own good.

   • Embed this notice
     Phil Stevens :tinoflag: (phil_stevens@mastodon.nz)'s status on Monday, 27-Jan-2025 17:35:57 JST Phil Stevens :tinoflag:

     in reply to

     • Stevan
     • Quinn Norton

     @quinn @ianb @withaveeay And hardly anyone (general public, that is) understands or appreciates this. We only got a taste in the GFC and central banks pretty much rode to the rescue...blowing up a whole new set of bubbles in doing so.