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Central Banks' 2% Plan to Impoverish You


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2014 Dec 14, 2:11am   2,147 views  3 comments

by Bubbabeefcake   ➕follow (1)   💰tip   ignore  

http://www.zerohedge.com/news/2014-12-11/central-banks-2-plan-impoverish-you

Ten years of modest 2% inflation robs households of nearly 20% of their purchasing power. What was $100 in year 1 costs about $122 after 10 years of "modest" 2% inflation. Put another way, $100 in year one is only worth $81 in year 10.

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1   tatupu70   2014 Dec 14, 2:19am  

The problem isn't 2% inflation--it's the stagnant wage growth for the 99% while the 1% continue taking it all.

2   HydroCabron   2014 Dec 14, 2:30am  

It would be wrong to take any steps to correct this, because politicians aren't scientists, and there really isn't a scientific consensus as to what's causing this.

Besides, it's probably too late to do anything about it anyway. Currencies come and go - the financial system is always changing.

3   Bellingham Bill   2014 Dec 15, 5:58am  

Half the country rents -- guess which half -- so "2% inflation" is a knee to the nuts for them, over the decades.

shows rising housing rents are damn sight higher than 2% pa -- that's just the floor!

as for the article, it's pretty stupid since nobody* has any savings in this country and as long as wage increases match price increases, we're in a pretty static condition.

* 3/4:
http://money.cnn.com/2013/06/24/pf/emergency-savings/

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