GoodAndBluts t1_jdxcx36 wrote on March 27, 2023 at 9:48 PM

Reply to comment by Loud_Clerk_9399 in How much money saved is the ideal amount to withstand the transition from our economy now, through the period of mass AI-driven layoffs, to implemented UBI? by Xbot391

Why will it become worthless? It seems counterintuitive

Loud_Clerk_9399 t1_jdxr9l2 wrote on March 27, 2023 at 11:31 PM

If we're in a massively deflationary cycle and money goes away, it's not going to matter how much you have. There will be a shorter term period of time where it will matter a lot If you believe the doomers

GoodAndBluts t1_jdxvkew wrote on March 28, 2023 at 12:03 AM

deflationary means money becomes more valuable over time- or am I confused?

Loud_Clerk_9399 t1_jdxw505 wrote on March 28, 2023 at 12:07 AM

Yeah the value of the dollar goes less so whatever you have becomes more valuable

GoodAndBluts t1_jdy4vnw wrote on March 28, 2023 at 1:12 AM

that is the opposite of deflation, but I get what you are trying to say

Loud_Clerk_9399 t1_jdy50z6 wrote on March 28, 2023 at 1:13 AM

Sorry I meant to say the value of each dollar went up. That was a this statement in my explanation. But thank you for correcting