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Not everyone lives in a house, friend. But you're correct, the burden of inflation rests more on the poor.
by justinator 5y ago
Not everyone lives in a house, friend. But you're correct, the burden of inflation rests more on the poor.
- DFHippie 5y agoThe poor and creditors. The poor, because they have less discretionary income and it isn't inflating to cover their inflating necessary expenditures. The creditors, because their assets are depreciating. The debtors in the middle see their debt, the creditors' asset, deflating.
- Ericson2314 5y agowages counts in inflation. The poor may be better off or not based on what is stickier. We all know labor is weak, so we start expecting wages to rise last, but that is not what happened this time, for there was a genuine tightening of the labor market.
- justinator 5y agoI'm not worried about my bank, my credit card company, or my personal loan company - something tells me they'll come out of this OK, if history is any indication. If they don't, I'll be taken down many moons before them.