The inflation is inflating. 2% theft was not enough. We must have 3% left! #bitcoin View quoted note →

2% was a 50-year timespan, which meant you probably wouldn't notice until they had stolen everything and you were dead.

Criminal

😂🤣🤣 2% inflation. Has he tried to buy anything recently??

Fuck that guy

2% is the perfect gaslight

Smart…

@Jeff Booth always said if someone was coming in your home and stealing 2% of your stuff over the course of a year you wouldn’t notice. That’s the only reason they “chose” that arbitrary number

I apologise on behalf of the people of New Zealand.

the 2% is arbitrary but will need to move even higher now to inflate away some of the debt. there will be printing and more theft. classic finance used to frame the 2% is roughly in-line with developed economy real GDP growth (population + productivity) so you could at least be flat or positive if there was good real growth. the theft is really cutting to the bone now though

Who is the fool? These people, or you for financing this charade?

The 2% inflation target, was never an official mandate it just became widely accepted by repetition over time. Check out the FOMC meeting minutes from July 1996, when Alan Greenspan was fed chair and Janet Yellen was on the Board of Governors. https://www.federalreserve.gov/monetarypolicy/files/fomc19960703meeting.pdf Yellen is married to economist George Akerlof, she drew upon his research which suggested that if there was 0% inflation, when companies needed to reduce wages during economic downturns it could harm worker morale and productivity. But, with a modest inflation rate like 2%, employers could implement real wage reductions by increasing wages by 1%. workers perceived a nominal wage increase as good, even though their real purchasing power was decreasing, this would maintain morale and avoid the negative effects associated with wage cuts. During the meeting, Greenspan wanted to have a clear definition of inflation and yelled, influenced by her husbands research suggested that a 2% target could enhance employment outcomes. She argued that a modest inflation rate would enable companies to adjust real wages without the need for nominal wage cuts, Greenspan expressed concerns, He worried that when the FOMC’s discussions were made public, Congress might view the adoption of a 2% inflation target as conflicting with the Federal Reserve’s mandate to ensure price stability. Despite his concerns, the 2% target gradually became a standard benchmark for central banks aiming to balance price stability with economic growth.