If you like big government, inflation isn't terrible. I should qualify. The thing that causes inflation isn't terrible. When the government prints a shitload of money, it acts as a backdoor tax. The government gets money it can use (usually give to their corrupt friends, but I digress). The cost it is inflation, but at least temporarily the government has more economic influence than they had before.
It's a tax that they don't have to pass in Congress as a tax hike. You have budget hawks in Congress that actually realize this like Rand Paul, but they are widely ignored by both parties.
I will tell you the argument that I have heard without saying I agree with it. Inflation acts as a tax that is partially born by the rest of the world, because they are forced by various means into holding US dollars and US debt.
If you like big government, inflation isn't terrible. I should qualify. The thing that causes inflation isn't terrible. When the government prints a shitload of money, it acts as a backdoor tax. The government gets money it can use (usually give to their corrupt friends, but I digress). The cost it is inflation, but at least temporarily the government has more economic influence than they had before.
It's a tax that they don't have to pass in Congress as a tax hike. You have budget hawks in Congress that actually realize this like Rand Paul, but they are widely ignored by both parties.
Inflation is actually the more evil theft than tax, because it steals the value of your money while it sits in your pocket.
I will tell you the argument that I have heard without saying I agree with it. Inflation acts as a tax that is partially born by the rest of the world, because they are forced by various means into holding US dollars and US debt.
I think that's less about inflation, and more about the set-up of the Debt-Based Petro-dollar system.
That's the racket. Petro dollars and the need for currency balance keep 'em on dollars. Inflation taxes 'em for holding them.