Re: men in women's bicycle races

On 5/15/2025 9:26 AM, Rolf Mantel wrote:

Am 15.05.2025 um 16:06 schrieb AMuzi:
 

p.s. Regarding inflation, which is a tax, and most brutally applied to lower classes, nothing about the Federal Reserve's  "2% target" should be aceeptable.  Zero is a nice round number and is actually attainable. We did it when currencies were backed by actual gold rather than an 'inflation target'.

 An economy without inflation is an economy with a throttled money supply; you probably prefer to live in a modern economy with a bit of inflation as a drop of oil in the workings (similar to a bike chain, dripping in oil is as bad a no oil at all).
 For the impact of throttled money supply, just read books about the British economy in the decades after they had to pay for Richard Lionheart's ransom.
 Rolf
 

That's true. And Sterling value plunged in 1920 after The Great War with their refusal to devalue willingly after the wartime currency increases.
https://www.economicshelp.org/blog/5948/economics/uk-economy-in-the-1920s/
Followed by a deflation which is no better than inflation and amid many other troubles; monetary, economic and social.
Let us not forget that inflation can and has induced self-perpetuating price spirals which have devastated many nations at many times.
Still and all, there are good arguments to be made:
https://www.clevelandfed.org/-/media/project/clevelandfedtenant/clevelandfedsite/publications/economic-commentary/1988/ec-19880915-the-case-for-zero-inflation-pdf.pdf
--
Andrew Muzi
am@yellowjersey.org
Open every day since 1 April, 1971