No, inflation is not good for you and no, we don’t “need” it. gckaloudis writes in this week’s Crypto Long & Short newsletter.
The basic gist of the argument for needing inflation is that a deflationary currency – one that increases in value over time rather than decreases – will lead to excess saving and lack of spending in the economy given the
. TVM is the core tenet of finance. A “dollar today is worth more than a dollar tomorrow” given the earning potential of that dollar.That's a whiteboard world. In the real world, there’s nothing wrong with saving. Also, and this should be shocking to absolutely nobody, people buy things because they either a) need them or b) want them.
Last week, for the first time in 20 years, the euro hit parity with the U.S. dollar. CoinDesk’s Omkar Godbole wrote a great article about what that. In that article, Genesis Global Trading’s Noelle Acheson was quoted saying that bitcoin has been “negatively correlated with the dollar index the past couple of years.”
So far this year, this trend has held up. The dollar index has performed extraordinarily well , the euro compared with the dollar hasn’t and not-to-be-upstaged bitcoin has done even worse . for a moment, it’ll be interesting to see what the European Central Bank will do in the face of a weakening euro,
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