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> And when it doesn't remain high the alchemists' prescription is to further debase wages and middle class savings, as if the only thing keeping displaced worke
by leetcrew 8y ago
> And when it doesn't remain high the alchemists' prescription is to further debase wages and middle class savings, as if the only thing keeping displaced workers unemployed is simply not having the screws turned on them hard enough!
does inflation really hurt the real value of people's retirement accounts? or are you implying that middle class savings are primarily cash?
- mindslight 8y agoRetirement accounts generally aren't liquid, and to the extent they are people really don't want to treat them as such. So yes I do mean to say that the economic power of the middle class is essentially held in cash.
- pdonis 8y ago> does inflation really hurt the real value of people's retirement accounts? Yes, of course it does. The higher the rate of inflation, the higher the rate of return on your retirement account has to be to give you the same amount of buying power when you actually retire.
- dragonwriter 8y ago> does inflation really hurt the real value of people's retirement accounts? It certainly does to the extent the accounts are or hold fixed-dollar-return assets (fixed annuities, bonds, etc.).