Contrary to what crypto currency enthusiasts believe, having inflation (most of the time) is the only feasible and sane way for an economy.

Why ever do anything at all with your money, ever, otherwise? Except for basic needs.

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allreduce 7 hours ago | parent | next [-]

Yeah, you would have to focus on buying things you actually need. Be able to save for and look forward towards a stable future. Don't get a new pocket computer every year because the software is not updated anymore. Use fewer subscription services? Maybe do away with the disposable vapes with lithium ion batteries in them.

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gzread 7 hours ago | parent | prev | next [-]

Yes, but simple inflation isn't the problem. In a stable economy, we spend money as we received it, and take on loans for large purchases. In fact the economy was that way before. Now, things are too unsteady for that.

	▲	mschuster91 7 hours ago \| parent [-]
		> In a stable economy, we spend money as we received it, and take on loans for large purchases. In fact the economy was that way before. You used to be able to save for most large purchases without going into debt. Even cars. But no, these days cars tend to be so goddamn expensive while at the same time being so low-margin products for the dealerships that even if you theoretically can pay in cash, the salespeople do their best to force you into some sort of debt because the kickback from that is the only way they make money. And practically, rents suck up so much of your income you can't save anyway.

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raincole 6 hours ago | parent | prev | next [-]

Saving is not 'not doing anything at all with your money.' Saving is lending your money to a generally low risk debtor, called bank.

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bulbar 3 hours ago | parent | next [-]

In a deflation based economy as invisioned by crypto currency enthusiasts, there is no incentive to lend your money to anybody. Neither a private person nor banks would have strong incentives to do that, because you have a guaranteed increase of value if you just sit on your money.

No investments would take place because of that.

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globular-toast 6 hours ago | parent | prev [-]

That's not how banks work and hasn't been for decades.

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gzread 6 hours ago | parent [-]

What is a deposit if it's not a loan from you to the bank?

	▲	globular-toast 5 hours ago \| parent [-]
		Nothing. It's just a number in an account. It's what we call money basically. Banks don't profit from keeping your deposits, they profit from running the money supply which empowers them to create new money which they tax or, in other words, loans on which they charge interest. Go and try to withdraw something tangible with intrinsic value from a bank and you'll see they don't owe you anything at all. The most you'll get from them is paper, but even then you'll find it withdraw all your money in paper. I just opened an account for you in my own bank, in fact. You have one million credits. You are free to send and receive credits from anybody else with an account (which is nobody, unfortunately). I owe you nothing.

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globular-toast 6 hours ago | parent | prev [-]

> Why ever do anything at all with your money, ever, otherwise? Except for basic needs.

Why indeed? If people are only buying stuff because they are afraid of their money being worth less in the future then those are things people don't even want, let alone need. Why is it a good thing for us to endlessly churn out stuff people don't even want?