sharon sanders
Editor-in-Chief & President
TUESDAY, SEPTEMBER 08, 2020
Inflation Is Stealth Austerity
snip
Inflation is stealthy because the loss of purchasing power is difficult to monitor. Your $1,200 only buys what $1,080 bought in the recent past; 10% inflation reduced your income exactly the same as if austerity had subtracted the $120 upfront.
Governments and central banks love inflation because the theft goes unnoticed. The public tolerates inflation because it's easy to passively accept this erosion in their standard of living and difficult to generate the political heat that an outright cut would spark.
Though it's being openly engineered by the Federal Reserve, inflation appears to be a force nobody controls--unlike austerity which is so clearly a political decision. If Inflation robbed 10% of everyone's income overnight, people might be roused from their passivity to protest.
more..
http://charleshughsmith.blogspot.com/2020/09/inflation-is-stealth-austerity.html
Inflation Is Stealth Austerity
snip
Inflation is stealthy because the loss of purchasing power is difficult to monitor. Your $1,200 only buys what $1,080 bought in the recent past; 10% inflation reduced your income exactly the same as if austerity had subtracted the $120 upfront.
Governments and central banks love inflation because the theft goes unnoticed. The public tolerates inflation because it's easy to passively accept this erosion in their standard of living and difficult to generate the political heat that an outright cut would spark.
Though it's being openly engineered by the Federal Reserve, inflation appears to be a force nobody controls--unlike austerity which is so clearly a political decision. If Inflation robbed 10% of everyone's income overnight, people might be roused from their passivity to protest.
more..
http://charleshughsmith.blogspot.com/2020/09/inflation-is-stealth-austerity.html