this post was submitted on 17 Dec 2024
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No Stupid Questions

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Like at some point won't all of the profit be squeezed out of society?

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[–] NoneOfUrBusiness@fedia.io 1 points 1 day ago (1 children)

So they make inflation more, and people lose purchasing power in a savings account, and instead invest, which pumps up stock prices for the whales who knows when to cash out.

That's... not really how that works. I mean inflation is there to keep people from saving when they could be investing their money, but that's not to make money for the whales. Money sitting in a bank account doing nothing is bad (economically speaking) even when the owner of the money isn't rich. More money moving is better for everyone.

[–] givesomefucks@lemmy.world 1 points 1 day ago* (last edited 1 day ago) (1 children)

More money moving is better for everyone.

*Gestures broadly at "the economy" Biden kept bragging about

Lots of money is moving, it's not good for the majority of us

[–] NoneOfUrBusiness@fedia.io 0 points 1 day ago (1 children)

I mean real wages have been increasing under Biden so he's not 100% wrong about the whole economy thing, but either way that's not relevant to my point.

Lots of money is moving, it's not good for the majority of us

Because it's moving to the top. The latest round of price gouging inflation is a special case and not representative of inflation at large.

[–] givesomefucks@lemmy.world 0 points 1 day ago (1 children)

Because it’s moving to the top.

When the fuck hasn't it?

We used to take it back with taxes, now we don't..

Have you learned anything about economics outside of a classroom?

[–] NoneOfUrBusiness@fedia.io 1 points 1 day ago

We used to take it back with taxes, now we don't..

I mean exactly. I'm not sure when in my replies you saw me say anything otherwise; you need strong and well-enforced taxation or the whole thing falls apart. That has no relation to the value of currency, which is a far more fundamental issue in a capitalist system.