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If you have substantial savings, you are not poor. "The poor" generally is in debt. As are states. And that debt in turn forms part of the assets held by the ri
by brazzy 5y ago
If you have substantial savings, you are not poor. "The poor" generally is in debt. As are states. And that debt in turn forms part of the assets held by the rich.
- throwaway248329 5y agoThe rich are also in debt, because the debt is cheap, especially if you're already rich. So inflation benefits the rich not only by increasing the value of their assets but also by wiping out their debt.