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“In this case, checks from the government fueled more inflation than they did wealth building,” he said.
Fuck off. I hate these people, all of them should be thrown into a woodchipper. Monetarist nonsense.
What an annoying fucking article. Really shows the bourgeois disdain for the poor, that even the thought of a tiny crumb of basic income is shut down with the excuse of "inflation".
these newborns should just pull themselves up by their bootstraps. have they thought about not drinking milk every day??? what about just taking a small loan of a million dollars and investing it. finding a job? have they thought about that??
You can't save if your currency is constantly losing value. Putting money in a savings account is just slowly moving value from you to whoever controls the money printer and expands the supply.
My parents lost all their savings due to hyperinflation. I can't imagine how crushing this could be to a parent. All your life you have saved some money, putting them every month to a savings account in a bank, just to wake up one day and realise that they have disappeared.
Back then I didn't realise how bad it is, but now as an adult, I can only imagine how they felt back then. Life sucks and fucks you up a lot.
I'm not sure why a parent would want to contribute to an account that isn't a UGMA/UTMA custodial account or 529 savings plan. I'd be interested in how to "receive federal contributions" though.