> ... entire lives in a period of unprecedented monetary stability. Money is so stable nowadays that it sort of looks like a store of wealth
In which country? The USD has lost around 90% of its commodity purchasing power since 1971.
> a small, steady, controlled inflation is really the ideal situation
I would agree up to the rate of population growth (1-2% or so). But US M2 expanded 8.4% last year, which is clearly far beyond what's needed to prevent the atrocious horrors of deflation.
In which country? The USD has lost around 90% of its commodity purchasing power since 1971.
> a small, steady, controlled inflation is really the ideal situation
I would agree up to the rate of population growth (1-2% or so). But US M2 expanded 8.4% last year, which is clearly far beyond what's needed to prevent the atrocious horrors of deflation.