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Inflation hurts the poor most. Thr only thing forgotten lately is that inflation has to include asset price inflation. In the long run, we're all dead. John Maynard Keynes
Treasuries could quite easily issue credit directly under the supervision of a Monetary Authority, with no interest charged, but with a payment into a default fund for the use of a Government Guarantee, and a payment for administration payable to Credit Managers formerly known as Banks.
It's not Rocket Science: but it is the disintermediating logic of the Internet.
To paraphrase John Gilmour's great quote re Censorship:
"The Internet interprets Banks as Damage and routes around them...." "The future is already here -- it's just not very evenly distributed" William Gibson
Plus, inflation hits the poor different than the rich based on the basket of goods they tend to buy. US statistics detail that basket of goods per income cohort and, when cross referenced against CPI data, it emerges, for instance, that inflation is higher in the US for the poor and what the poor tend to purchase, and inflation is lowest for the wealthiest and what they tend to buy.
The fed reserve, of course, does not worry about this. The Hun is always either at your throat or at your feet. Winston Churchill
US statistics detail that basket of goods per income cohort and, when cross referenced against CPI data, it emerges, for instance, that inflation is higher in the US for the poor and what the poor tend to purchase, and inflation is lowest for the wealthiest and what they tend to buy. The fed reserve, of course, does not worry about this.
The fed reserve, of course, does not worry about this.
Besides housing mortgage interest costs; there isn't any underlying significant inflation and housing costs are decreased by lower inflation rates; not higher rates.
As a social progressive; I am surprised you would be taken in by the central banks stated reasons and not look at the true underlying pressures from the 'elites' which control the banks.
Do you have one?
As pointed out by Lucas below, some studies point out that the poor were doing better thanks to inflation.
(And of course you know my opinion on the current obscure process of inflation measurement)
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