> The only people it really benefits are wall street
People with net dollar-denominated asset balance (e.g., net holders of financial capital denominated in dollars) lose value with inflation (people with net dollar-denominated liability balance -- net debtors -- are the winners with inflation.)
> The government is basically sucking up all of the value from advances in technology ,and redirecting it to the political class who then profit from the carry trade of investing it in the stock market and the like.
To the extent that's true at all, that's a product of fiscal policy (particularly, the favorable tax treatment of capital gains compared to "vanilla" income, and the additional taxation in the form of payroll tax on top of income tax levied on labor income compared to "vanilla" income) rather than monetary policy.
Which, rather than being a distinct problem from "income inequality", is actually the same problem as income inequality.
People with net dollar-denominated asset balance (e.g., net holders of financial capital denominated in dollars) lose value with inflation (people with net dollar-denominated liability balance -- net debtors -- are the winners with inflation.)
> The government is basically sucking up all of the value from advances in technology ,and redirecting it to the political class who then profit from the carry trade of investing it in the stock market and the like.
To the extent that's true at all, that's a product of fiscal policy (particularly, the favorable tax treatment of capital gains compared to "vanilla" income, and the additional taxation in the form of payroll tax on top of income tax levied on labor income compared to "vanilla" income) rather than monetary policy.
Which, rather than being a distinct problem from "income inequality", is actually the same problem as income inequality.