Well another argument they have is the amount of waste that comes with the churn of fiat currency, where we inflate asset values in order to deliberately grow aggregate demand.

The housing bubble for instance was obviously cheap debt, which was used to grow aggregate consumption, by rewarding asset holders thus encouraging them to offload their asset to increase the velocity of money.

On the gold standard the average mortgage was 7 years, which was because there was less need to grow the money supply, because we werent trying to force an inflation target. Massive windfalls werent common, and thus housing wasnt being bid up via the cantillon effect, so was better for society in many ways when consumption wasnt being forced onto people.

When would I use Mysql over postgres?

I knew about them excluding shelter from the CPI in the late 80s, as Volcker raising rates was raising shelter inflation in a feed back loop, and this untethered the CPI from reality. I’d not heard about them goosing the unemployment numbers.

Did they clear up those China allegations?

Do they need to provide a back door?

I think it was when the gold standard ended, and poverty was rampant as all the debt unwound. Black unemployment was 30%.