alt Hacker NewsInflation is a kind of default, I'm not missing the point.
The value of the dollar is based on the promise of 2% inflation of a basket of goods. Breaking that promise is default.
Inflation is a kind of default, I'm not missing the point.
The value of the dollar is based on the promise of 2% inflation of a basket of goods. Breaking that promise is default.
Well... no. Default is when you can't pay back what you promised. Not keeping inflation under a certain target.
Unless words just don't mean anything anymore. In which case, yes. Which could also mean no.