And what would you call the US dollar's monetary expansion of over 40% [1] since the start of the pandemic, if not stealing?
The Cantillon Effect has never been stronger, but those that continue to measure their financial worth in a unit of account that is shrinking in its purchasing power every day are missing the point. The system _is_ stealing your savings!
Let’s not act like the infusions were for no reason. Many people are willing to incur some inflation and inflation risk in a gamble to avert a near-certain societal level catastrophe.
and which people were those? rich people, that's who...
I agree that desperate times call for desperate measures, but there are fairer ways to fund this. Just inflating the money supply just hits asset-poor people hardest... this is the very definition of the Cantillon Effect...
The Cantillon Effect has never been stronger, but those that continue to measure their financial worth in a unit of account that is shrinking in its purchasing power every day are missing the point. The system _is_ stealing your savings!
[1]: https://fred.stlouisfed.org/series/M1SL