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No the wealthy love this because their debt becomes cheaper to service while their assets skyrockets. Inflation primarily hurts the non-asset owning poor.
by zionic 5y ago
No the wealthy love this because their debt becomes cheaper to service while their assets skyrockets. Inflation primarily hurts the non-asset owning poor.
- pydry 5y agoHave you met the non asset owning poor? They have debt. LOTS of debt.
- throwaway0a5e 5y agoThe interest rates are high enough and the debt terms are short enough that they get screwed hard by relative buying power loss long before any of that matters. Having your car loan evaporate over three years doesn't mean crap if you can't afford to make the payment after one.