EdwardDiamondhands on Nostr: A quick rant on “disinflation”: I *hate* the term disinflation. I feel like the ...

A quick rant on “disinflation”:

I *hate* the term disinflation. I feel like the average person who hears that word assumes it is the opposite of #inflation.

It most certainly is not. It just means that the rate at which prices are increasing is lower than it was before. Prices are still increasing.

Yet “disinflation” is celebrated as if it is some kind of major victory.

The most recent CPI release for Jan 2023 means that inflation is 6% annually. That’s still 3x higher than the Fed’s stated goal of 2% inflation.

And 2% inflation is STILL too high.

Yes, constant debasement is NOT a good thing, despite what every fiat economist will tell you.

Victory for the average financially-responsible person would be getting down to 0% inflation, or, *gasp* experiencing actual DEFLATION to bring prices down and restore some of the purchasing power lost owing to the TRILLIONS of dollars injected into the economy in response to COVID-19.

(I’m sure the Ministry of Truth would have me banned from Twitter for even mentioning the word “deflation”. Thank fuck for Nostr.)

But no, deflation ends the party for the crooks who’ve been manipulating the financial system to their advantage at your expense. Deflation actually holds borrowers to account instead of systemically letting them off the hook while still pretending they fulfilled their obligations.

While the politicians and news anchors celebrate the “disinflation” down from 6% to 4% over the coming months (years…?), do not be fooled into celebrating with them, good Nostrich, because their extravagant debts are getting cheaper while your hard-earned money becomes effectively worthless at an insidiously atrocious rate.

It goes without saying: #Bitcoin fixes this.

RANT OVER.