3 ms·

> Inflation is a good thing for people with a lot of debt Iff their income increases faster than their interest rate. > I'd like to add, wage growth is outpac

• cjbgkagh 5y ago
  The problem with the stats is that it could contain some major hidden factors; one is if the median income increased because people with lower income dropped out of the workforce. Another is increased income inequality. It could also be if wage growth was front-loaded with the pandemic and will peter out while inflation will continue unabated. And obviously median is much better than mean for a pareto distribution. Some of this might be easier to spot by looking at the quintiles over time. People are being successfully brainwashed into believing high inflation will benefit them, either by increased wages or proxy debt forgiveness. It is utter madness. I suspect the average person is seeing price increases beyond their pay so inflationary policy will become increasingly unpopular.
• pessimizer 5y ago
  Mean income is a statistic skewed towards the wealthy, so that just re-enforces the point.