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Fiat doesn't work on a finite planet. Crypto has failed on its goals. What is a better way to be economically secure? (infosec.pub)

submitted 5 months ago by aviation_hydrated@infosec.pub to c/asklemmy@lemmy.ml

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Assuming the title to be accurate, what is a good way for the working class (90%+ of all humans) to save and succeed in this current environment?

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[–] Wirlocke@lemmy.blahaj.zone -2 points 5 months ago (2 children)

As an aside, I've often wondered what would happen if everything was automatically adjusted for inflation.

So like cost of living inflates, but then income is adjusted and bank accounts are modified to be their true value before inflation.

Would this patch things up to be effectively 0 inflation? or (more likely) would this cause an absurd runaway effect?

[–] nitefox@sh.itjust.works 4 points 5 months ago

That it would spiral into more inflation, making your money worthless. Which is exactly what happened in Italy with the Lira

[–] aviation_hydrated@infosec.pub 3 points 5 months ago

The issue here is we actually don't know how much inflation there is because we can't measure the quantity of fiat, which is why there are dozens of "inflation measures" which just study different baskets

But yeah, if inflation could be measured correctly and everything automatically updated (wages, costs, etc) then I'm not seeing an issue logically. But at that point it's just a fixed supply of money and prices adjust up and down, irregardless of currency type. That sound reasonable?