Government planned inflation more than halves the value of Minimum Wage Labor, Middle Class Wealth, GDP per capita about every 24 years.
The only people guaranteed a prosperous salary by this practice are those collecting loan interest, and the government officials who are given a salary well in excess of GDP per Capita.
Entropy
1) No, the US is not socialist. The US is a mixed economy that is mostly free market capitalism. Yes, we have some social programs and entitlements, but most of our economy is capitalist. It could be better, but judged against the rest of the world, it's pretty good.
2) Inflation actually benefits the borrower, not the lender. If I lend you money, let's say $100, inflation means you are paying me back in dollars that are less valuable than they were when I loaned them to you. Obviously, exact interest rates and repayment terms matter, but inflation effectively reduces the principal which is usually the largest part of the loan.
This is why the government likes inflationary monetary policy...it deflates the debt away over time, allowing politicians to spend more to buy votes. The government is the borrower.
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9 out of the 10 planks are already in effect in the US so ..........I'm saying ........yes?
Only way u can get rich is being in bed with the government. While gov USES the wealth disparity they created as a tool for MORE socialism. Pretty slick huh?
Anonymous
No, a socialist government would make sure there were no homeless and there were rehab for all idiots abusing.
Anonymous
Actually America is not socialist, if it was it would of self destructed along time ago, socialism does not work in reality.
Anonymous
WHY would banks be in favor of socialism? Suggestion - say in academia! OH/con