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Always nice to turn around a argument (media.piefed.zip)

submitted 5 days ago by RmDebArc_5@piefed.zip to c/politicalmemes@lemmy.ca

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Also not necessarily true - Karl Marx "Value, Price and Profit" Chapter two "Production, Wages, Profits"

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[–] NightFantom@slrpnk.net 6 points 4 days ago (1 children)

Inflation + minimum wage is the same as devaluing money, which is good for everyone with debt, and bad for everyone with money in the bank. Not sure how it is for billionaires whose money is mostly in companies, but it's great for me with a loan for my house, which doesn't get indexed, unlike my salary which does.

[–] WorldsDumbestMan@lemmy.today 4 points 4 days ago (1 children)

My massive debt IS devaluing. I wonder if you can earn money by like taking up debt to buy gold, then the debt will be worth less, but the gold will keep up with inflation.

[–] twopi@lemmy.ca 2 points 3 days ago

There's interest in the debt. Gold would have to rise faster than the interest.