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I disagree that the middle class is hurt the most. Whoever can leverage the most debt for assets benefits the most under an inflationary scheme. This tends to
by reedjosh 5y ago
I disagree that the middle class is hurt the most.
Whoever can leverage the most debt for assets benefits the most under an inflationary scheme. This tends to be banks and generally wealthy people.
Stated inversly the poorest are hurt the most as they are least a part of this wealth generating scheme.
Cash savings is largely irrelevant. Most Americans are net negative cash wise via credit cards. So stating the middle class is most hurt doesn't follow logically.
I'm basically middle class, but to keep a substantial cash savings would be financial idiocy in this inflationary system.
- imtringued 5y agoSo who's losing if nobody has any meaningful monetary savings? Sounds like the rich because they will put like 5% of their portfolio into cash and higher wages eat into real wealth.
- lottin 5y agoBasically everything you say is wrong. Inflation is typically priced in and therefore has little effect on debts.
- elvatoloco55 5y agoYou have no idea what you are talking about lol There is no inflation Inflation is transitory Inflation is actually good That was priced in? How about in other countries? Where the next day the currency devaluates 50%?