TawdryPorker@lemmy.worldtoAsklemmy@lemmy.ml•How come we experience so much more inflation than deflation? in other words, why does our buying power decrease far more often than it increases?
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1 year agoThis is because inflation isn’t a bug it’s a feature.
Anything that transfers wealth up the chain, from working class to middle class and from middle class to upper class, is a feature of the western economic system.
For example, in England and Wales the Bank of England is charged with keeping inflation at a target of around two per cent. This means that the pound in a workers pocket is supposed to devalue. The advantage is that the government borrows money in its own currency so inflation means that its debt goes down (in real terms) when inflation goes up.
Meanwhile in the Pentagon: ‘Autonomous drones you say…’