The problem with your simplistic inflation analysis is that it takes no account of the ability for supply to expand to match demand. If supply expands as much as demand does, you have no inflation. And you might be interested to consider that most western countries are struggling now to maintain inflation in the face of technological deflation (basic technologies that we all own are getting cheaper and cheaper each year).
The next problem you have is what are you going to do in the face of increasing technological unemployment? If the consumer class has no money to buy products with, capitalism fails.
Finally, you need to understand where money comes from. The vast majority of it is loaned into existence as debt. That is, most of the money that pays for economic growth, is debt. That is, economic growth requires debt. To be clear, this is a farcical situation, but if you are going to talk about money, you need to know where it comes from.
Yes, yes, I am aware of all those situations. I'm also aware that the populations of most Western countries are in decline. The birth rate isn't keeping pace with the death rate as many people chose not to have children. Which means a decrease in demand. Hence the interest of many countries in having migration.
And that very mechanism of the US Treasury issuing bonds for the Federal Reserve to buy, is what they use to make our money seem legitimate. And the same mechanism will be used to create the "Universal Basic Income." On top of that, you can't forgot that one of the reasons for no inflation in the face of an ever increasing dollar supply, is that most of those dollars are held abroad, or by the Fed. Once countries lose faith in the dollar, and it comes home to roost it'll be a whole different kettle of fish.
Also, I believe we are now in the deflationary phase that precedes a hyperinflation. And some areas, like food, are already inflating. I'm paying a lot more per week than I did last year. And with the recent flooding and storms since the beginning of the year, there have been a lot of crop losses.
But I wasn't trying to get into all that. Just to explain why I believe UBI won't work.
A lot of people will become unemployed, but giving them free money is not going to solve anything. I believe people have a basic need to work. To feel useful. That's what separates us from a criminal who takes without giving. Just look at the gas shortages that happened during the recent storms. There are even studies mentioned by Reason Magazine that show how they fail, and how their results are doctored to seem promising. Production is the basis of morale. Without that, we feel useless, and free money might stave the hunger but it won't change that fact.
The only way is to educate and create new jobs. Automation will come and replace a lot of jobs, especially the ones that you have to pay more than what they're worth (i.e. minimum wage).
People need to take their lives into their hands and get training in areas that will be necessary.
Certainly, food will be a very important area of attention. In the coming Solar Minimum, a lot of crops will be lost. And it'll be necessary to replace the lost food. That and cryptos would be 2 great areas to get involved in.
Ultimately, I agree. It's farcical. But it's intended to create the wealth transfer from the lower classes to the elite class. No president on Earth can change that. Only loss of faith in the system, and the shift toward cryptos can fix that problem. But people need to understand the problem as well, so they don't fall into the same trap. These are critical times we are in. I'm just trying to warn and elucidate as many people as I can.
I wish the best to all of us!
A UBI doesn't necessarily have to be funded by new money creation. Scrapping most of the current welfare system and the bureaucracy associated with its assessment and enforcement will cover a large chunk of it. Shortfalls would have to be made up through either increased taxation on the rich and/or reduced military spending. Of course, both of those things are hard to implement in today's shallow political climate. Something has to be done, though. Capitalism is going to collapse if we continue on this path.
Money is the primary way they enslave us. UBI would only create more indentured slaves. The same people who'd give you UBI are also keeping interest rates at all time lows destroying savings and investments. They're also the ones that force you to use the banking system to raise funds for your new project/idea - and the banks keeps 60% or more of your IPO. How could ANYTHING coming out of the government really be anything but more slavery?
The solution, in my mind, is to use cryptos for peer-to-peer transactions that can't be traced and taxed. Less taxes means more savings and more investment and more wealth. Life is not monopoly, you can't print your way into prosperity UNLESS you are a bank. And that does not create value... only currency.