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Comment by nojvek | Hacker News Reader

Also don't discount the fact the USD went through some serious deflation. In the name of jump starting the economy, our govt literally made money out of thin air and made it rain.

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I'm going to assume you've read a bit about crypto currencies, and are now confident in their superiority to fiat currencies. I recommend spending some time learning about basic macroeconomics before drawing too many conclusions about the government "literally making money out of thin air". You can get the kindle version of Keynes' General Theory of Employment, Interest, and Money for $1 [0] or pick it up from your local library for free!

[0] https://www.amazon.com/General-Theory-Employment-Interest-Il...

Inflation is responsible for the wage slavery we find ourselves in today. Those peddling inflation and control of the money supply as a necessary component of modern economics are peddling snake oil. Price discovery is hard enough without an invisible handle manipulating the units you’re trying to measure value in.

Wouldn't that be inflationary?

Good thing Bitfinex isn't magically making money out of thin air with Tether as we speak...

You mean inflation (well really, quantitative easing, we actually have been below target inflation for years), but that would mean housing everywhere has spiked in price. That's not the case, housing in a few markets has far outpaced anything else.

>, we actually have been below target inflation for years

no, we have crafted something called CPI, that charts how much consumer goods cost, and tracked below the target for that. Meanwhile, coastal RE, equities, business valuations and skyrocketed at unprecedented rates...

Printing more money is inflation

Wait when did the USD go through deflation?

Well, don't forget that the reason the economy needed jump starting is that $4 trillion evaporated in the crisis of 2008.

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