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woah we cant get too political so fast here on good ol HN. gotta think about the billionaires first before you respond. the audacity.
by Doubtme 4y ago
woah we cant get too political so fast here on good ol HN.
gotta think about the billionaires first before you respond. the audacity.
- kelseyfrog 4y agoWe have to rationally debate this to death which means to present both sides as having equally valid arguments until we grow tired and give up so that nothing changes. Really though, once I hear the "Actually, this is good for wage earners" argument, I know which side has won.
- Doubtme 4y agoOf course its good for people who have to work. No need for a family. Or kids. Think of all the productivity and amazing work you'll create!
- chrisco255 4y agoIt's not just the billionaires that are going to be affected by this. Homeowners, 401K retirees, state pensions, etc, all depend on asset prices trending upward. All of this QE policy started with Bernanke in the wake of the '08 GFC. Right now the Fed has to choose between raising rates high enough to stop inflation (probably double digits) and in the process cause a depression in all asset markets or tepidly walk back the tightening and embrace stagflation (in which case, asset markets will go down in real terms, but not in nominal terms). Either way, I believe we are near the end (<10 years) of the line for the USD reserve fiat regime.
- hamandcheese 4y ago> homeowners 401k/retirees, yes. Homeowners, no. As long as people can afford their mortgages (i.e. employment stays high) I couldn’t care less.
- chrisco255 4y agoIf interest rates go high enough to stop inflation, house prices will fall to probably half what they are now. We are already at peak all-time high unaffordability (in terms of income to price ratio) in terms of house prices as a result of this bubble. A lot of people will end up underwater. And maintaining high employment is no guarantee.