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>Causes the wealth of the rich to be eroded less than the wealth of the poor (who don’t own any assets). This is such a weird and oft repeated lie [0], when in
by RC_ITR 5y ago
>Causes the wealth of the rich to be eroded less than the wealth of the poor (who don’t own any assets).
This is such a weird and oft repeated lie [0], when in reality the poor are mostly net-debtors (even the ones who seem well off, given their mortgage) who benefit from inflation.
0: https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/ https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...
- Aunche 5y agoThat's only true if they're in the process of pay off their debt rather than accumulating more debt, in which case they'd suffer from higher interest rates.