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72 sats \ 2 replies \ @Undisciplined 16 Dec \ on: MONEY CLASS OF THE DAY: “The Cost of Living” Is a Stupid Phrase econ
The "victims" of long-term inflation are those who would have saved under a hard money system, but have to engage in speculative investment to preserve their purchasing power.
As you said, "cost" is about what is given up. They gave up a safe convenient savings vehicle.
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343 sats \ 1 reply \ @denlillaapan OP 16 Dec
it gets very hypothetical and weird to identify that person... on an aggregate level, I agree with you: now everyone has to max tax-deductible contributions to a 401(k) type structure that invests in index funds, etc + play the housing market with 7x leverage.
The aggregate loss to society by having all the people involved in those extra legal/practical steps I would love for someone to estimate. Like I said, strangely hypothetical and "what would society have looked like" etc
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10 sats \ 0 replies \ @Undisciplined 17 Dec
I agree, but our entire concept of cost is strangely hypothetical. It’s also correct.
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