INFLATION--FED announces 0.50% interest rate cut

[Monahorns]

Don’t worry folks……..

The economics textbooks say a little inflation is a good thing.

Yep, all the ones selling Keynesianism, straight out of his book "The General Theory of Employment, Interest, and Money." It was full of false statements but the British government and many others loved it and pushed it on all the schools.

 

[Chop]

No one said we didn't. But you said "money is just illusory." That is a false statement.

Here, where we live, in the USA, money is fiat. Same with UK, Japan, Germany, Australia, pretty much anywhere--money is illusory. Maybe in some make believe country, money represents a voucher for a certain amount of some tangible thing that you can trade in your currency for. That's not what we have in the real world today.

 

[nashhorn]

hahaha, illusory, well I'd rather have it illusion or not, than to not have it.

 

[Monahorns]

Here, where we live, in the USA, money is fiat. Same with UK, Japan, Germany, Australia, pretty much anywhere--money is illusory. Maybe in some make believe country, money represents a voucher for a certain amount of some tangible thing that you can trade in your currency for. That's not what we have in the real world today.

This better explains your point. It wasn't clear before.