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Just so long as you're already on top, it's a huge win. For anyone who isn't, it's a huge loss or at the very least, a huge widening of the gap.
by seoulmetro 5y ago
Just so long as you're already on top, it's a huge win.
For anyone who isn't, it's a huge loss or at the very least, a huge widening of the gap.
- Barrin92 5y agoThis doesn't make much sense. Inflation erodes debt and is largely driven by wage increases among low income workers. >"For example, rank-and-file workers in leisure and hospitality — the lowest-paying sector of the U.S. economy — got a nearly 16% raise in 2021, to $16.97 an hour. That means the average employee at a bar, restaurants and hotel saw pay rise more than two times faster than inflation, amounting to a net 9% increase in annual pay. Similarly, rank-and-file workers in transportation and warehousing saw their annual pay rise 8.4%, to $25.04 an hour in December. Retail workers got a 7% increase to $19.20. These either exceeded or matched inflation." Your dollars being worth less is bad for people who have a lot of dollars. Which by definition isn't people at the bottom. You're seeing prices go up because people at the bottom of the American food-chain have been getting paid more as covid has impacted supply chains and the workforce. https://www.cnbc.com/2022/01/12/higher-pay-eclipses-inflation-bite-for-some-.html https://www.cnbc.com/2022/01/12/higher-pay-eclipses-inflatio...
- seoulmetro 5y agoYou don't have to have debt to not be at the top. That's the point. This isn't a comment against inflation, it's a comment against printing lots of money to protect investments at the top.
- mensetmanusman 5y agoIt’s a win relative to a depression, especially for the poor.