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<p>[QUOTE=&quot;oval_man, post: 2734105, member: 22602&quot;]I didn&#039;t have time to write more earlier.</p><p><br /></p><p>Policies have agency, of course, but their consequences don&#039;t—and you know this. I&#039;m not splitting hairs; the reason I called attention to the incorrect &quot;theft by inflation&quot; is the same reason you criticized the graph in post #13 for being &quot;misleading&quot;: The graph <i>overdramatizes</i> the decline in purchasing power (in the given years) and is therefore insidious in its use to advance the poster&#039;s agenda.</p><p><br /></p><p>To assign agency to inflation does the same thing. Rather than discuss the rationale—the strengths and weaknesses—behind a particular federal reserve policy, to say that <i>inflation</i> <i>steals</i> our purchasing power is to create a shadowy &quot;enemy&quot; (i.e., the government) over which we have little or no control.</p><p><br /></p><p>Although it may seem a simple language shortcut, such usage reveals an alarmist tone that borders on conspiracy theory. This always raises a red flag for me for it really does nothing to further a discussion.[/QUOTE]</p><p><br /></p>

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