0 sats \ 0 replies \ @TheBTCManual 12 Nov 2023 \ on: It's Deflation, Not Inflation - via The Sovereign Individual 📖 meta
When I read about inflation/currency debasement and people complaining about "How expensive everything is" I always think to deflation, like you're complaining about the nominal price increase only because you have a previous frame of reference/number you think something should cost, you don't realise by what factor of deflation that product is going through and how you're overpaying/being robbed already
I think that deflation comes in two forms the improvement of tasks, services, and producing products at scale but also credit repayment/Destruction which is the ones governments fear the most. They are happy when companies drive gradual deflation because it gives them more room to kick the can down the road, but the mass deflation of companies going bust defaults in different credit bubbles (auto, home, business), job losses, deflation that can be massively disruptive in short periods of time, is what they fear, it causes unrest and puts the politically connected at risk
Their tools are blunt ones, so they can't really dictate where the inflation goes they use o fight deflation and many of the steps above are in motion already. Definitely interesting times, I think bitcoiners realise fighting deflation is pointless, embrace it and let it work for you is the rational path