Why Socialists Love Inflation!

http://www.pyrolitical.com discusses Inflation, this is the process by which your purchasing power is removed from you by the devaluation of the currency that you carry. Inflation has been deemed a Hidden Tax because the government uses inflation to continually fund their projects, while taking that money out of your pockets. You don't even see it happening, Washington never sends you an additional tax bill, the money you have just doesn't go as far as it used to. In this video podcast we discuss some of the causes of inflation and the cycles that the federal government follows to perpetuate this process.

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• Keynesian
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[passerby23]

Actually, he's quite right. There is no reason for inflation if there is sound monetary policy. Goods and services merely become overvalued or undervalued and prices adjust accordingly. GDP IS an illusion if you are using it as a gauge with inflation because when there is monetary expansion, there is reported GDP growth, but it's not real growth and eventually the smoke and mirrors get exposed as we're seeing now.

You really ought to read a book or two on Austrian economics. I can suggest some.

[justingaylor]

Yeah, I really can't say much more than the two previous comments.

Just wanted to reiterate that the guy in this video is absolutely right. Inflation is not necessary for economic growth.

Read Austrian economics, seriously. A good book to start with is "Economics in One Lesson" by Henry Hazlitt.

[BennoTheDutch]

@passerby23 I know you commented a long time ago, but could you still suggest some good books?

[dubified89]

@Mestilf22 A comic book in 1940 was like 10 cents, today it's I think 2 dollars at the cheapest

[Mestilf22]

@siggy16 The dudes using a basic economics principle to trick people. 725 Billion in 1930-dollars. Which was during the dip in the great depression. Remember when he said a dollar today is worth .05 cents in 1913? Most economists would pick a stable year to stick with. Plus the gold standard didn't really end until the 1940's. You can go look up how all this stuff works online. It's Macroeconomics 101.

[chica476]

These are all lies! Everyone knows that the economy of the world is run by zionist Jews!

[siggy16]

725 Billion O_O YOU'RE FUCKING WITH ME!!!!!

Anyone have any links to prove this??

[jjwilli6]

Yeah CPI is a stupid indicator, disregards food and energy, two things that for the longest time (during the bubble) were seeing sharp rises in prices

[stealthswimmer]

depends on the measure of inflation. The CPI is pretty much bogus. It's great for consumers of course if the CPI is stable or getting lower. I think they now use the GDP deflator(supposed to be the broadest measure of the price level), but before they used the CPI...even though the PRODUCER Price Index could be going up 12% they would say "oh there's no inflation" so it's really troublesome if you only stick to one index.

[stealthswimmer]

growth would be lower but the standard of living would steadily rise and while you wouldn't get big booms, you also wouldn't get big busts. there was a period of time in the 1800s when historians thought it was a depression cus of falling prices...turns out prices were falling but wages staid relatively stable so real wages increased and the standard of living for the majority of people was steadily rising.

[justingaylor]

It is never in the long-term interest of the general good to debase a currency. Period. It reduces savings, thereby reducing capital formation, thereby reducing productive output of goods and services (versus what they could have been without the inflation).

But that aside, government-induced inflation through printing money is as ethical as stealing. It is taxing us without even bothering to inform us.

By the way, be wary of government issued statistics. There is an obvious bias there.