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A poor person might be someone who had a steady job from 1995 to 2008, and, circa 2005, got a $200,000k loan to buy a house, then lost their job, and is now str
by lkrubner 16y ago
A poor person might be someone who had a steady job from 1995 to 2008, and, circa 2005, got a $200,000k loan to buy a house, then lost their job, and is now struggling to make payments on the loan, perhaps scraping together cash through odds and ends. If you assume the largest expense they now face is dealing with that debt, then a wave of inflation would normally help them, so long as their was some relationship between the inflation and their wages. And please note, that relationship would not have to be very tight.