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> 1) Believe prices constantly rising is good for poor people. I mean, inflation actually does benefit poor people, when wages and prices rise at the same rate
by ARandumGuy 5y ago
> 1) Believe prices constantly rising is good for poor people.
I mean, inflation actually does benefit poor people, when wages and prices rise at the same rate. Devaluing savings accounts isn't a big deal if you don't have any savings in the first place. Inflation also makes debt less valuable over time, making it gradually easier to pay off.
The real problem is that (in the US) wages have been stagnant for decades. That's not an issue that cryptocurrency is going to solve.
- pontus 5y agoWell, there are a lot of ways of investing your money in ways that track or exceed inflation, so it's not like people without savings are doing well with inflation whereas all those people with savings are getting screwed. Further though, I would imagine that people who have a little savings but not that much, would end up keeping that in a savings account rather than investing it. As such, the little savings poor people do have would be eaten away by inflation. Also, like you suggest, wages are not rising with inflation so that just makes things even worse.