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"So fuck 'em. Inflate the fuckers' savings away"

But this is not the point. A different monetary and fiscal policy would produce much more growth. In a environment of growth it is possible to get good returns on savings.

But even more importantly: For everybody to have enough we need not money but enough goods. And 15% unemployment is not the way to create enough goods.

by rz on Thu Jun 5th, 2014 at 03:46:43 AM EST
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In an environment of growth (or, which is a more realistic target, not backsliding), it is possible to get good returns on investment.

But in an environment of good returns on savings, it is impossible to get growth.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jun 5th, 2014 at 07:31:23 AM EST
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You are clearly right. I understand now what you mend to say in your original post.
by rz on Thu Jun 5th, 2014 at 07:35:17 AM EST
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Basically: if you want wealth, start a business. If you don't want to or can't start a business, buy into current businesses, ideally through the stock market.

I think Jake might confuse a few people when he rails against savers - in lots of countries this word is used to describe not only people who have cash in the bank or own sovereign bonds, but also people who own shares in listed firms, who do risk their capital for the hope of a good return.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Tue Jun 24th, 2014 at 11:05:45 PM EST
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Of course it was the lack of goods to purchase with the Mark that caused the hyperinflation. Too bad there is no practical way to remind the average German of that inconvenient fact.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Jun 5th, 2014 at 09:12:01 AM EST
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