this guy again. he stored up so much brains while he was a leftard.
(media.greatawakening.win)
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I absolutely love Thomas Sowell!
I'm being a potato right now; can you ELI5 how inflation transfers wealth from The People to the govt specifically?
I thought it was a wealth transfer in general from people to elite, but the gov specifically?
More info is appreciated.
Thanks!
The corporate bailouts in 2008 (or was it 2009) made me so mad! I was able to download a list of all the companies that included the "net worth" of the companies, and the amount they received in the bailouts. On average, it was just a few percent of the "net worth" of the companies. The companies could have EASILY raised that money from selling off assets! Yes, it would have hurt them a little, but instead, they got all of the rest of us to bail them out. It was disgusting!
IMO it's just another way for the gov to keep their thumb on the scale. But the normie answer is that they are a debtor themselves and they still benefit through tax collection. The man himself explains it somewhere but i'm not finding his deeper darker explanation of inflation offhand.