The dollar is in a precipitous free fall right now. Just go to the grocery store. Things aren’t getting more expensive because they are harder to come by it’s because the money printer is working overtime.
You have to compare apples to apples. But also, gold is not a good inflation hedge on short timescales (years). It only really holds its value over a hundred years.
The dollar has recently been stronger against the Euro, Pound, Yuan, Ruble, and Yen.
What does that have to do with my point? The petrodollar is (for now) the reserve currency and has a place of privilege where it can generally farm out the effects of it’s overprinting and mismanagement to other countries and currencies.
The dollar is STILL in freefall though. Look at purchasing power. The prices of groceries, houses, lumber, commodities etc
I attribute this to the COVID cash giveaway where we printed 20% of all the dollars that had ever been printed in history up to that point.
It’s no use. I’m embarrassed for having told people that Lemmy is a generally intelligent group. I had no idea that basic economics was beyond the hive mind here. It feels weird even calling this basic economics, this is more like basic observation. I had no idea that there were people emotionally invested in pretending like inflation is fake.
The dollar is in a precipitous free fall right now. Just go to the grocery store. Things aren’t getting more expensive because they are harder to come by it’s because the money printer is working overtime.
No.
The dollar has recently been stronger against the Euro, Pound, Yuan, Ruble, and Yen.
Now compare the USD to stocks, gold, yadda… you know, not other currencies that devalue faster.
You have to compare apples to apples. But also, gold is not a good inflation hedge on short timescales (years). It only really holds its value over a hundred years.
Yes
What does that have to do with my point? The petrodollar is (for now) the reserve currency and has a place of privilege where it can generally farm out the effects of it’s overprinting and mismanagement to other countries and currencies.
The dollar is STILL in freefall though. Look at purchasing power. The prices of groceries, houses, lumber, commodities etc
I attribute this to the COVID cash giveaway where we printed 20% of all the dollars that had ever been printed in history up to that point.
Laughs in Canada.
It’s no use. I’m embarrassed for having told people that Lemmy is a generally intelligent group. I had no idea that basic economics was beyond the hive mind here. It feels weird even calling this basic economics, this is more like basic observation. I had no idea that there were people emotionally invested in pretending like inflation is fake.