Comment: We need more inflation (Score 2) 548
I don't have time to watch a 53-minute YouTube video, but in case you haven't been paying attention, inflation is not a problem in this country right now. Interest rates are at record lows. In fact, rates on some T-bills are negative. This means that people are paying the federal government for the privilege of lending it money.
We could do with a lot more inflation in the near term. It would accelerate economic growth, and it would cause the debt held by many middle-class people to shrink in real terms. This would be good for people with underwater mortgages, massive student loans, or big credit card or medical bills.
Strict anti-inflationism (and the idea that the system is secretly rigged to create inflation) is a viewpoint that tends to be held by gold bugs and other "hard money" obsessives. But inflation is mostly something that hurts people with lots of money. It doesn't hurt ordinary people as much, as long as their incomes keep pace with inflation in the cost of living, and as long as we don't have hyperinflation. And again, inflation actually helps people with debts.
From a macroeconomic perspective, the best thing that both the Fed and the European Central Bank could do right now to jump-start the American and European economies would be to significantly increase inflation.