Eth eip 1559 hard fork burns have made the token truly deflationary, global economy should be learning

I know that most world economic experts will argue against a deflationary consensus, but it has so far proven successful, refuting all arguments based against it.

The whole idea from inflationary movements is an ill-thought out idea of borrowing today future’s money and paying back in the future. This is a concept that people like Ray Dalio have long fought against; the credit-lending system. Because even though it is healthy in concept, it creates a lending/payback cycle, where people could take out loans today to make profit and pay back in the future. Problem is that when the payback date comes along on that calendar, no one wants to pay.

The system is healthy in nature, but faulty in application. There’s nothing wrong with the credit system in theory, you could borrow now pay later. Problem is that when interest rates are lost and borrowing is easy, people will take out money and use it to splurge and spend them on hedonistic activities rather than successful ventures, this is only human nature and will always be the case, and said human nature was not taken into consideration during credit-system conception.

Not only that, but the credit system allows for the people in charge to take advantage of the system to their advantage, and most do. Let’s not beat around the bush and admit that all mistakes in governemts re ‘fixed’ with printing the money needed, and suffering the consequences later, and later on always comes too soon.

Just take a look at what happened to America today as it just now suffer the aftermath of the mass printing and stimulus checks made to appease the people momentarily, look at where that got us.

Deflationary tactics on the other hand, employ an opposing analogy. By burning tokens they lower the supply and circulating supply in the marketing, raising up demand and keeping the system regulated and in check.

Keep in mind, that the success of eip-1559 reflects itself on success of other tokens and ideas too. Like the successes of defi and DAOs. As Vitalik becomes an advocate for defi, his success in Ethereum creates positive media for the growth of defi as well. Pushing projects like GRT, Fetch and Aloha Defi into the forefront of mass media attention.

The system we have is broken, and inflation has always had drastic effects that all suffer. A deflationary method could come to fix it, but is the world ready for it?