C'mon. We all know why the Fed targets a relatively consistent rate of inflation. It's because deflation suppresses consumer spending. Not what you want in a consumer economy.
Buy Treasuries. Or shares of stock. This is the point of inflation: it forces savers to invest time into productively allocating capital.
There, we just saved you from having to go to an Econ class :P
Below is a list of 590+ failed fiat currencies, 150 caused by hyperinflation. Seems the Straw Man argument is yours alone.
Inflation does mean that the spending power of a currency decreases. No argument there. But guess what! Wages increase(d) relatively in line with inflation. If a snickers bar used to be $1 when the average salary was $10000; and now it's $2 when the average salary is $20000, then the actual cost of a Snickers bar has not changed, in simplified terms. I see no problem here. It also intuitively makes sense, that as the population of capital producing workers grows, so too does the GDP. These people need currency issued, too, otherwise, the currency would be deflationary. So new currency is issued to prevent deflation (just 1 example of why it's issued) and keep the currency in circulation in line with production.
> 150 caused by hyperinflation.
Like, for example, the Bolivar? or the Mark? That's actual hyperinflation. ~2% inflation YoY doesn't mean hyperinflation. This is Econ 101.
Below is a list 1000+ cryptocurrencies, 99.9% of which no one has heard of, many of which have lost 90%+ of their value in a matter of months.
