jimmysong on Nostr: Pension bailouts are coming. Many are from public employee unions which are pseudo ...
Pension bailouts are coming.
Many are from public employee unions which are pseudo government entities anyway and reliably vote for the expansion of the state and state power. Their pensions are in trouble and guess what? They're gonna get bailouts.
It'll be sold as something compassionate. They'll trot out some old people telling sad stories. And they'll get it because these old people want their money.
This will massively inflate the currency and it'll cause prices to soar. Because unlike normal monetary expansion, this money will get spent right away. Which of course means that they're going to have to raise the salaries of those in government again.
On and on and on until we have hyperinflation.
I don't know when this will happen but the game theory is inevitable.
Many are from public employee unions which are pseudo government entities anyway and reliably vote for the expansion of the state and state power. Their pensions are in trouble and guess what? They're gonna get bailouts.
It'll be sold as something compassionate. They'll trot out some old people telling sad stories. And they'll get it because these old people want their money.
This will massively inflate the currency and it'll cause prices to soar. Because unlike normal monetary expansion, this money will get spent right away. Which of course means that they're going to have to raise the salaries of those in government again.
On and on and on until we have hyperinflation.
I don't know when this will happen but the game theory is inevitable.