TELECOM Digest OnLine - Sorted: Re: Dial Conversion - Depression Labor Force

Re: Dial Conversion - Depression Labor Force
25 Aug 2006 07:03:48 -0700

mc wrote:

> And that -- together with similar deflationary cycles every few
> decades in the 19th century -- was one of the source of the notion
> that it is inherently evil to be in debt, which is still reverberating
> among some personal money management gurus. The Great Depression was
> the last deflationary cycle because we fundamentally changed the way
> the money supply is controlled. Going back to the gold standard, as
> some people advocate, would bring back the deflationary cycles.

What terrifies me is inflationl, esp what we had in the 1980s.
Inflation is basically a tax, a very unfair tax.

It discourages savings and encourages wasteful consumption.

There are many who do like inflation for various selfish reasons
because their particular segment of the economy is strengthened; but
at the expense of everyone else.

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