… then your boss says sales are down and your salary is being cut. “Don’t worry, your purchasing power hasn’t changed!”
… then you need to go to each creditor and try to renegotiate your balance so you’re not overpaying at the current value rather than what it was when you bought your house or car.
… meanwhile the economy slowly grinds to a halt as people and businesses hesitate to get loans for the same reason. That’s when the layoffs start ramping up, which does not improve the state of the economy.
This used to happen periodically and it was ruinous — it’s why systems like the Federal Reserve were created and almost all serious economists target consistent low inflation levels since that has the opposite effect of incentivizing economic activity.
You didnt mention the role of capital, which is stored savings. Dig in to the role and benefits of stored monetary reserves, how bitcoin does this and cant be inflated, and you might get pissed off when you realize savers have a great escape mechanism from the huge government bailouts of failing industries (airlines, cruise ship lines).
If you can get out of debt, you may see the benefit of bitcoin as a store of value. If you are in debt slavery, you of course want easy money to make your debts easier to pay.
… then your boss says sales are down and your salary is being cut. “Don’t worry, your purchasing power hasn’t changed!”
… then you need to go to each creditor and try to renegotiate your balance so you’re not overpaying at the current value rather than what it was when you bought your house or car.
… meanwhile the economy slowly grinds to a halt as people and businesses hesitate to get loans for the same reason. That’s when the layoffs start ramping up, which does not improve the state of the economy.
This used to happen periodically and it was ruinous — it’s why systems like the Federal Reserve were created and almost all serious economists target consistent low inflation levels since that has the opposite effect of incentivizing economic activity.