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MartinRigggs on scored.co
1 month ago6 points(+0/-0/+6Score on mirror)2 children
lol reverse inflation? Yeah ok.
80% of all US dollars in existence were printed and spent in a 22 month period, from $4 trillion in January 2020 to $20 trillion in October 2021. It’s probably around 90% at this point. Gov can’t go around printing and spending that much money and not expect it not to lead to serious inflation issues….and regardless, halting the penny presses isn’t going to stop it, let alone reverse it. This was the main reason I was opposed to lockdowns, and especially the stimulus checks that came after, because it wasn’t just going to be the elderly who were in danger of death if we ended up dealing with hyperinflation later on, rather than just a “super deadly virus”.
You are not wrong about any of this. Inflation can be reversed. Will ending the minting of pennies do this? Hardly, or at least, not on its own. A lot would have to stop/change to begin solving the inflation problem, including the manufacturing of pennies.
I was completely opposed to the lockdowns and the handouts afterward. It was clear early on that the danger of the virus was being exaggerated like a motherfucker, and that the threat of lockdowns to the economy was going to be a lot more damaging to the majority than the virus itself if it was real at all. Shouldn’t have done either. Old people should’ve locked down by choice, and government should’ve set up services for all of their needs so they didn’t have to leave the house, it would’ve been cheaper and better for everyone.
80% of all US dollars in existence were printed and spent in a 22 month period, from $4 trillion in January 2020 to $20 trillion in October 2021. It’s probably around 90% at this point. Gov can’t go around printing and spending that much money and not expect it not to lead to serious inflation issues….and regardless, halting the penny presses isn’t going to stop it, let alone reverse it. This was the main reason I was opposed to lockdowns, and especially the stimulus checks that came after, because it wasn’t just going to be the elderly who were in danger of death if we ended up dealing with hyperinflation later on, rather than just a “super deadly virus”.