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[–] • 1 pt

It's also why the Fed doesn't want inflation low. High inflation drives people to spend money now before it becomes less valuable.

[–] • 0 pt

Meh. You are not wrong, but there is more to it. It's more than speed of transaction, it's also about dilution of value.

Think of it this way:

  • You own a house, purchased for $100K. There is an equal house in the next neighborhood for $100K.
  • 10 years later, you decide to sell your house and move to that equal house. Now (thanks to inflation) both houses are worth $500K.
  • Congrats, now you own house #2, but you still own only a single house. Your utility hasn't improved.
  • But, now you owe ~$80K in taxes on the $400K 'gain' (inflation) on the first house.
  • You are ~20% poorer and have no additional assets. The government wins - they got 20% of your wealth; and the banks win - you will have to come up with that 20% on a loan from the bank.
  • And, this is ignoring transaction fees, local taxes, etc.which just makes it worse.

Inflation is only good for two groups: banks and government. The Fed is owned by the banks, so there will always be enough inflation to debase your capital (savings) but not so much as to cause a panic or political unrest.

[–] • 0 pt

No capital gains on your primary residence but yes, you are correct.

[–] • 0 pt (edited )

But, now you owe ~$80K in taxes on the $400K 'gain' (inflation) on the first house.

No you don't. Capital gains on a primary residence are exempt from taxation as long as they're used to purchase another primary residence within two years.

However, in high value areas like California you get royally fucked on property taxes. The prices of houses in California is more like you bought a house in 2015 for $600,000 and then decide to sell it for an equivalent house in 2022, but now each house is worth $1.1 million. Your property taxes go from $625 a month to $1,145 a month.

[–] • 1 pt

How is this a conspiracy? Common knowledge for anyone who knows anything about commercial property or basic economics.

[–] • 1 pt

I don't agree. They want to buy up EVERYTHING. It would make more sense that prices die so they can grab everything they can while you're at home scratching your arse.

Something isn't right here but I don't care enough to look into american stuff all day long.

[–] • 0 pt

Saw a report on how the work at home situation has hurt dry cleaning businesses.

[–] • 0 pt

You know the best thing for the people is that they all live at home and are completely self-sufficient and don't need to pay anybody else for electric power or clean water or anything else and if they want to wear work remotely and tie into that system they can or they can just feed themselves and avoid the need to work at all unless they want to work on some project that they enjoy. And of course all the people who make their living by parasiting off of others like real estate owners and you know utility company owners and all those people they actually need all the other people to participate in that to keep that circular financial structure going.

[–] • 0 pt

Plus forcing people to attend the office helps with the commercial real estate leases of resturaunts and shops because you're going to be forced to go out to eat or people in the office will either a) get offended if you say something that even mildly upsets them or b) try to give you work to do while you aren't getting paid.

[–] • 0 pt

Very obvious, but what's surprising is that it came from that far left sub filled with retards (anti-work).

Fighting for the worker is noble, but they pick and choose, are filled with hypocrisy and think everyone not far left is a right winger. Then they spew on about niggers and gays and never mention the key player: white men.