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Yes, it would drive consumption toward the barest minimum to live and investment toward zero.

This is bad.

> Yet it results in more spending but on what?

Well near target inflation rates (which is a positive non-zero number) it results in a mix between consumption and investment.

This is good.

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Are you saying low consumption is bad and high consumption is good?

High consumption has been improving the economy, and destroying the earth. I'm not saying I have the answers, but it's not so simple.

No, I'm saying that consumption at subsistence levels and investment opportunities having to overcome a deflation hurdle is bad.

It is very good that the default thing to do with excess money is invest it.

I'm not trying to strawman the opposing side, but I always found it ironic that many of the cryptocurrency proponents I talk to think that starting a business is amazing and innovation is important, but also hate inflation, which encourages those two things.

They'd have to think at least one or two steps further than chart-go-up.

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