Krasnov May Cure Inflation

[gab13by13]

With people out of work, gasoline and gas and electric prices rising, people losing healthcare, it's a given that inflation will be cured by people cutting way back on spending. Right wing economists are praising this possibility. What they will not call this is what I call it, deflation, people, well not counting rich people, will not be able to afford the bare necessities of life.

Hooray the billionaires scream, the greatest economy ever and we won't have to wait in line at the hospital seeing as unwashed Americans won't be in line ahead of us, by the way, that's the main reason that wealthy people fight against single payer health care for all, poor people get in their way.

Greatest economy ever for the rich.

[lapfog_1]

1. the rest of us call it recession... or depression

or, as the West Wing said... a bagel.

[NoMoreRepugs]

2. When the private credit market implodes inflation/deflation might not seem that important.

[Norrrm]

3. Zimbabwe's inflation got so bad, they printed a 100 trillion dollar bill as currency

Zimbabwe's inflation got so bad, they printed a 100 trillion dollar bill as currency

It is worth more as a collectible than as money.

And there is no shortage of them as a collectible.


Zimbabwe 100 trillion dollar note.

https://thefinanser.com/2013/07/zimbabwes-currency-crisis-and-the-100-trillion-dollar-note.html/

[Fiendish Thingy]

4. That's not deflation

inflation will be cured by people cutting way back on spending. Right wing economists are praising this possibility. What they will not call this is what I call it, deflation, people, well not counting rich people, will not be able to afford the bare necessities of life.

That’s not deflation, that’s a recession, which often cools inflation, but rarely results in actual declines in prices for commodities and products.

Deflation is when prices (other than gasoline and real estate) actually decline, usually accompanied by high unemployment and shrinking GDP.

Mild Deflation happened briefly from 2008-09 and again in 2020 during COVID.

Before that, you have to go back to the 1930’s.