{"id":23508,"date":"2022-11-12T10:08:34","date_gmt":"2022-11-12T09:08:34","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=23508"},"modified":"2022-11-12T10:08:34","modified_gmt":"2022-11-12T09:08:34","slug":"euthanasia-of-the-rentiers","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/financial-repression\/euthanasia-of-the-rentiers","title":{"rendered":"Euthanasia of the rentiers ?"},"content":{"rendered":"

\"\"<\/p>\n

 <\/p>\n

Hope is that inflation has peaked but\u2026inflation is<\/strong><\/em> the solution. After a long period in which the opposite has been true, perhaps it is the easiest and maybe even fairest way forward.<\/p>\n

If we\u2019re to get rid of the massive piles of debt our economies piled up, then we need inflation and nominal growth to run ahead of interest rates.\u00a0Not only would this reduce the debt in a relatively painless manner, but it would also help to sort out our problems with wealth inequality.<\/p>\n

Inflation staying above interest rates for a prolonged period is bad news for those who generate most of their wealth from assets (because the\u00a0value of those assets decreases), but it\u2019s good news for those who make most of their money from wage income (which is more likely to rise in line with inflation).<\/p>\n

In other words, inflation benefits workers at the expense of asset owners, and the young at the expense of the old.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Hope is that inflation has peaked but\u2026inflation is the solution. After a long period in which the opposite has been true, perhaps it is the easiest and maybe even fairest way forward. If we\u2019re to get rid of the massive piles of debt our economies piled up, then we need inflation and nominal growth…<\/p>\n","protected":false},"author":4,"featured_media":23505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[648942096],"tags":[],"class_list":["post-23508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-repression"],"yoast_head":"\nEuthanasia of the rentiers ? - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/financial-repression\/euthanasia-of-the-rentiers\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Euthanasia of the rentiers ? - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"  Hope is that inflation has peaked but\u2026inflation is the solution. 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Instead of progressing from its economy\u2019s developmental stage by prioritising and banking on the traditional path\u2013 which is also enticing for foreign investors \u2013, a path that is characterised by gradual industrialisation,\u2026","rel":"","context":"In "Turkish hyperinflation"","block_context":{"text":"Turkish hyperinflation","link":"https:\/\/michelsanti.fr\/en\/category\/turkish-hyperinflation"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":20614,"url":"https:\/\/michelsanti.fr\/en\/inflation-en\/economists-on-the-verge-of-nervous-breakdown","url_meta":{"origin":23508,"position":4},"title":"Economists on the verge of nervous breakdown","author":"Michel Santi","date":"September 9, 2020","format":false,"excerpt":"\u00a0 Central banks are lost, and central bankers are now blatantly admitting that their tools and other monetary policy instruments used for decades to correct economic cycles no longer work! Yes: they have lost their magic touch, these central banks which are no longer omnipotent, including the most powerful of\u2026","rel":"","context":"In "Inflation"","block_context":{"text":"Inflation","link":"https:\/\/michelsanti.fr\/en\/category\/inflation-en"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/hyman_minsky.jpg?fit=400%2C314&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":20574,"url":"https:\/\/michelsanti.fr\/en\/deflation-en\/japan-a-sleeping-beauty","url_meta":{"origin":23508,"position":5},"title":"Japan: a sleeping beauty","author":"Michel Santi","date":"September 1, 2020","format":false,"excerpt":"\u00a0 On the macroeconomic scale, Japan is a laboratory, but it\u2019s also a cemetery where economists and theorists have had to bury their certainties. I salute the determination of Prime Minister Abe on his departure, having not shied away from any decision or measure in pulling his country out of\u2026","rel":"","context":"In "Deflation"","block_context":{"text":"Deflation","link":"https:\/\/michelsanti.fr\/en\/category\/deflation-en"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/la_belle_au_bois.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/la_belle_au_bois.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/la_belle_au_bois.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/la_belle_au_bois.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/09\/la_belle_au_bois.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/23508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=23508"}],"version-history":[{"count":1,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/23508\/revisions"}],"predecessor-version":[{"id":23509,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/23508\/revisions\/23509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/23505"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=23508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=23508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=23508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}