The idea is right, but it is actually your money. It's not just the money that you currently have -- it's the money you currently have and the money you'll make in the future. So say you have a savings of $1000 -- now it's worth $800. $200 of your money went to paying out everyone.
And let's not forget that loans (Money is printed off the basis of issuing bonds) also have a cost. None of this is "Not your money," since you'll be expected to pay more in taxes when this is all over to cover the increase in owed interest.
As to government inflation index -- that's relatively non-controversial in comparison to everything else they do. Select a market basket of goods (TV, food, etc) and follow the value compared to the dollar. Doesn't give you a good comparative view of countries, but it does tell you what the real value of a dollar did over the last year. It's like unemployment -- it might not be a perfect measure, but if you know how it's calculated, you only think it's partially bullshit.
The idea is right, but it is actually your money. It's not just the money that you currently have -- it's the money you currently have and the money you'll make in the future. So say you have a savings of $1000 -- now it's worth $800. $200 of your money went to paying out everyone.
And let's not forget that loans (Money is printed off the basis of issuing bonds) also have a cost. None of this is "Not your money," since you'll be expected to pay more in taxes when this is all over to cover the increase in owed interest.
As to government inflation index -- that's relatively non-controversial in comparison to everything else they do. Select a market basket of goods (TV, food, etc) and follow the value compared to the dollar. Doesn't give you a good comparative view of countries, but it does tell you what the real value of a dollar did over the last year. It's like unemployment -- it might not be a perfect measure, but if you know how it's calculated, you only think it's partially bullshit.