I don't even think you need to go to that. The vast majority of spending is discretionary. Is Jeff Bezos new yacht an essential? Deflation is particular bad for workers because it means less investment and lower salaries for those with a mortgage that's even worse. The people that benefit are those with huge stockpiles of cash.

This only really applies if it isn't just temporary though. It's also pretty for central banks to fix.

[–] eskimofry@lemmy.ml 2 points 1 year ago (1 children)

So this economy was design to feed dragons, and then depend on those dragons spending money for the majority of people to even survive.

[–] w2qw@aussie.zone 1 points 1 year ago

They don't need to spend money but you want them to have to invest money and not just profit by keeping their money in cash.

[–] iegod@lemm.ee 2 points 1 year ago (1 children)

Huge stockpiles of cash seems a rather useful thing in all situations, to be fair.

[–] w2qw@aussie.zone 1 points 1 year ago

Individually sure but as a society we want investment into productivity stuff rather than just increasing bank accounts.