Why is the Federal Reserve's inflation target 2%?
Because they want inflation to be low grade theft. At 2% it takes 34 years to dilute the value of the currency by 50%.
On generational timescales, theft becomes quaint. It feels good to reminisce about "the good ol' days" when you could see a movie for a dollar or enjoy a night out on the town for 20 bucks.
Whereas when you remember being able to buy a week's worth of groceries for $100 a few years ago, the memory spurs anger and despair. This is dangerous to the overlords...
Jameson Lopp
npub17u…wt4tp
2023-08-10 15:53:59
Author Public Key
npub17u5dneh8qjp43ecfxr6u5e9sjamsmxyuekrg2nlxrrk6nj9rsyrqywt4tpPublished at
2023-08-10 15:53:59Event JSON
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"content": "Why is the Federal Reserve's inflation target 2%?\n\nBecause they want inflation to be low grade theft. At 2% it takes 34 years to dilute the value of the currency by 50%.\n\nOn generational timescales, theft becomes quaint. It feels good to reminisce about \"the good ol' days\" when you could see a movie for a dollar or enjoy a night out on the town for 20 bucks.\n\nWhereas when you remember being able to buy a week's worth of groceries for $100 a few years ago, the memory spurs anger and despair. This is dangerous to the overlords...",
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