You have a point but how much cash are we talking about? If you have $10k-$20k sitting around in a chequing account that’s only $200-$400 you are losing to inflation. Things like the earned income tax credit would give you back like $500-$8000. They may not seem super related but in general it’s easier to compensate those lower income folks for inflation than trying to change the inflation target.
Gold is a shiny bauble material, but never grows. It can be a good investment for that part that you want to put aside and will just sit. Bitcoin is invaluable for money laundering, but very unstable for saving/investing. Look at how many have been fleeced when someone gets their keys, or lost their coins by a hard drive failure. It is costly in electrical use to mine.
There are far better things not tied to the value of a dollar. I would suggest very low-fee indexed mutual funds as one better alternative. They offer an accessible way for people to get a share of the means of production. My experience is that for people who can can learn to not be ruled by fear or greed can, over time, build enough wealth to live better lives.
Or just buy gold and bitcoin and other things that aren’t tied to the value of the dollar.
This is exactly how inflation is a tax on the poor: there are ways to counteract inflation, which only become available at a certain level of wealth.
Basically disposable income is safe because you can convert it; and non-disposable income is not safe because you can’t convert it.
yup, that’s exactly how it is, idk why ppl downvote me but upvote you, it’s saying the same thing lol, crypto bad i guess.
You have a point but how much cash are we talking about? If you have $10k-$20k sitting around in a chequing account that’s only $200-$400 you are losing to inflation. Things like the earned income tax credit would give you back like $500-$8000. They may not seem super related but in general it’s easier to compensate those lower income folks for inflation than trying to change the inflation target.
Gold is a shiny bauble material, but never grows. It can be a good investment for that part that you want to put aside and will just sit. Bitcoin is invaluable for money laundering, but very unstable for saving/investing. Look at how many have been fleeced when someone gets their keys, or lost their coins by a hard drive failure. It is costly in electrical use to mine.
There are far better things not tied to the value of a dollar. I would suggest very low-fee indexed mutual funds as one better alternative. They offer an accessible way for people to get a share of the means of production. My experience is that for people who can can learn to not be ruled by fear or greed can, over time, build enough wealth to live better lives.
Which are these far better things not tied to the value of a dollar?