Author Topic: Is Hyperinflation On The Horizon?  (Read 3560 times)

Offline cgr

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Re: Is Hyperinflation On The Horizon?
« Reply #45 on: April 02, 2021, 03:37:49 PM »
You've just explained why there's no concern of inflation. If anything the concern is the opposite.
There's a concern because of the mentality it comes with. These kids see themselves as "rich" and my first 50k just lost it's value- after all the guy next to me earned it by sitting home for 8 months doing nothing.

Online ExGingi

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Re: Is Hyperinflation On The Horizon?
« Reply #46 on: April 02, 2021, 03:59:15 PM »
There's a concern because of the mentality it comes with. These kids see themselves as "rich" and my first 50k just lost it's value- after all the guy next to me earned it by sitting home for 8 months doing nothing.

But savings is, by definition, disinflationary.

A rich person doesn't feel any need to save. Feeling or seeing oneself as rich is a mental state.

https://he.chabad.org/library/article_cdo/aid/3140172
« Last Edit: April 02, 2021, 04:02:28 PM by ExGingi »
I've been waiting over 5 years with bated breath for someone to say that!
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Offline Kobe Bryant

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Re: Is Hyperinflation On The Horizon?
« Reply #47 on: April 02, 2021, 04:03:08 PM »
A rich person doesn't feel any need to save.
I disagree.

Online ExGingi

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Re: Is Hyperinflation On The Horizon?
« Reply #48 on: April 02, 2021, 04:07:54 PM »
I disagree.

If said person "needs" something, what makes that person rich?

Take a few moments to read, if not actually learn, the maamar linked above.

Also see Richard Russell's famous piece "Rich Man Poor Man".
« Last Edit: April 02, 2021, 06:35:49 PM by ExGingi »
I've been waiting over 5 years with bated breath for someone to say that!
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Offline PlatinumGuy

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Re: Is Hyperinflation On The Horizon?
« Reply #49 on: April 04, 2021, 07:49:06 AM »
These kids aren't going to be spending their funds on stuff to stimulate the economy
Sure they are

״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline PlatinumGuy

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Re: Is Hyperinflation On The Horizon?
« Reply #50 on: April 04, 2021, 07:52:19 AM »
Debt financed spending is taking future spending and bringing it forward. As debt grows, a larger portion of money needs to go into servicing that debt, curtailing consumption. Debt servicing is a non-productive expenditure. Spending can either contribute to growth or be totally wasteful.
That would be true about real hard currency debt. The US (& other major powers like the EU & UK) owes paper, it's never going to pay it back. It will be inflated to oblivion, as it's been since the gold standard was cancelled to extract us from the Great Depression. 
״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline Kobe Bryant

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Re: Is Hyperinflation On The Horizon?
« Reply #51 on: April 04, 2021, 09:05:22 PM »
If said person "needs" something, what makes that person rich?
Feeling or seeing oneself as rich is a mental state.

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Re: Is Hyperinflation On The Horizon?
« Reply #52 on: April 04, 2021, 09:46:26 PM »

Exactly. And by definition, said mental state means that the person has everything he or she needs. Hence no need to save.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Kobe Bryant

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Re: Is Hyperinflation On The Horizon?
« Reply #53 on: April 05, 2021, 09:15:55 AM »
Exactly. And by definition, said mental state means that the person has everything he or she needs. Hence no need to save.
You’re entitled to your definitions.

Offline Lurker

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Re: Is Hyperinflation On The Horizon?
« Reply #54 on: April 05, 2021, 09:57:21 AM »
Exactly. And by definition, said mental state means that the person has everything he or she needs. Hence no need to save.

Why does having everything you need mean you have no need to save for the future?
When you find yourself agreeing with me more often than not, it's time for a cheshbon hanefesh.

Online ExGingi

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Re: Is Hyperinflation On The Horizon?
« Reply #55 on: April 05, 2021, 10:21:21 AM »
Why does having everything you need mean you have no need to save for the future?

By definition, if you have everything you need, future (perceived) needs are included in that, hence no need to save.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline aygart

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Re: Is Hyperinflation On The Horizon?
« Reply #56 on: April 05, 2021, 10:25:34 AM »
By definition, if you have everything you need, future (perceived) needs are included in that, hence no need to save.
Can someone be rich and also need a drink?
Feelings don't care about your facts

Offline Kobe Bryant

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Re: Is Hyperinflation On The Horizon?
« Reply #57 on: April 05, 2021, 10:27:33 AM »
By definition, if you have everything you need, future (perceived) needs are included in that, hence no need to save.
So a person is only “Rich” if they have enough money to last them and their family a life time?

Offline PlatinumGuy

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Re: Is Hyperinflation On The Horizon?
« Reply #58 on: April 05, 2021, 11:01:41 AM »
https://www.merriam-webster.com/dictionary/rich

Definition of rich (Entry 1 of 2)
1 : having abundant possessions and especially material wealth
2a : having high value or quality
b : well supplied or endowed
a city rich in traditions
״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline aygart

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Re: Is Hyperinflation On The Horizon?
« Reply #59 on: April 05, 2021, 11:04:59 AM »
So a person is only “Rich” if they have enough money to last them and their family a life time?
No (based on my understanding of what @ExGingi is saying) since they will only have it if they save it.
Feelings don't care about your facts