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Only thought about this today but if a person relies on credit, inflation is going to end up being much higher.
by mirntyfirty 5y ago
Only thought about this today but if a person relies on credit, inflation is going to end up being much higher.
- cced 5y agoWould you mind expanding on this? If a person relies on credit and borrows to purchase a home, wouldn't inflation eating away at the value of that debt (assuming wages increase) be less of an impact on the borrower?
- mirntyfirty 5y agoI was thinking more about consumables like gas, groceries, and rent. A lot of American consumers rely on credit to pay monthly bills and inflated goods would likely prevent people from paying bills in full. The inflated prices would be hit with interest rates on revolving credit lines.