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> A sad thought I have about inflation is the fact that it is, wittingly or not, a weapon wielded by the rich against the middle and lower classes. I think you
by dclowd9901 4y ago
> A sad thought I have about inflation is the fact that it is, wittingly or not, a weapon wielded by the rich against the middle and lower classes.
I think you have it backward. I think the inflation is the byproduct of their ability to own and hoard assets like land and labor, and reap the most value from those things, while everyone else is unable to get a foothold.
Inflation is happening because everyone is making more money, and everyone got a bunch of during covid, and now a lot of people are having large swaths of debt cut from their lives (college loan forgiveness program), not because rich people own stuff. But poorer people also can’t get ahead because rich people own everything.
This is a capitalism problem more specifically than it is a rich v. poor problem. Make it illegal to own more than one property and you will instantly give the lower and middle classes a chance.
- pjc50 4y ago> (college loan forgiveness program) Not in the UK.
- ajmurmann 4y ago> everyone got a bunch of during covid Is this true? It seems like poor people got checks over a few hundred bucks whereas businesses got millions.
- sammalloy 4y ago> Inflation is happening because everyone is making more money Real average weekly and hourly earnings have decreased. > and everyone got a bunch of during covid Several thousand dollars is more money? That’s one rent or mortgage payment. > and now a lot of people are having large swaths of debt cut from their lives Where?