Hacker News Reader

Comment by batushka3 | Hacker News Reader

Always remember, inflation is the goverment printing (inflating) currency to the market in order fund it's agenda by stealing your savings. Basicaly inflation is just another process how government steals your money. Inflation is NOT rising prices, they are trying hard to derail the definition.

View on HN

Inflation has always been defined as a rise in the general price level. Consult any economics textbook or econometrics monograph in the 20th century.

"inflation is the goverment printing (inflating) currency to the market in order fund it's agenda by stealing your savings"

You are summarizing a policy theory called "monetarism" and presenting it as the consensus theory that is only now being departed from. This is inaccurate.

https://en.wikipedia.org/wiki/Monetarism

If you want to see how this work, look at Argentina. Here politicians are always trying to find something else to blame for inflation: international prices increase, supply chain problems, monopolies trying to destabilize the economy, commodity prices that increased due to bad weather, the "greed" of businessmen, and any kind of nonsense. They always try to remove responsibility for the increase of money supply they dictate.

Don't be like Argentina, keep a healthy economy.

Really, I don't understand how in this site, where so many intelligent people participate, there are so many comments about trying to disregard the link between inflation and money supply.

As somebody also from South America, seeing people from the US having to come to grips with the idea of inflation is cute.

True. If the government cannot tax you for what they want, they will just print it and increase the water level of the economy.

These trillion dollar packages put forth by politicians probably aren’t helping either.

Leaving your attempt to redefine inflation aside - no government forces you to hold your savings in cash. If you are afraid of inflation just buy other assets. Governments are much more constrained in "stealing your money" than you make them out to be.

buy other assets, which then "increase in value" compared to $ prices and then you get charged on capital gains.

I am glad I put most of my investments and cash into btc under $1000. I can peacefully go about my life with a currency which gains purchasing power.

There is still plenty of time to opt out of government fiat money. Get off zero or HFSP.

Inflation can also happen when a country’s productivity falls compared to other competing countries.

No - inflation is % change in CPI. It literally is the percent change of a collection of prices. The reasons why prices might change is not part of the definition of inflation.

Lol inflation existed millennia before the CPI

If we're getting all theoretical: On the other hand, your money and property wouldn't exist if the government didn't declare it so. Was it ever really yours?

Yes. My family has been free for 20+ generations and will continue without relying on anyone or anything's permission.

Amazing! I'm surprised you're able to use the internet under those conditions.

You don't own the definition of inflation. I agree that it's confusing that economists and laymen use the word differently, but the vast majority agree that inflation is defined by increases in price.

The bastards have also been devaluing my debt.

I agree with this. However, it becomes difficult to argue when definitions are shifting under you: https://www.wsj.com/amp/articles/SB1000142405274870373080457...

Reply on news.ycombinator.com