Nit: it devalues fixed rate debt. I’m not sure if poor or “working class” demographics have enough exposure to fixed rate debt to make inflation a net gain. I

Nit: it devalues fixed rate debt. I’m not sure if poor or “working class” demographics have enough exposure to fixed rate debt to make inflation a net gain. If they are homeowners, likely it is: most people knew better to take out ARMs this time around. Not a homeowner? Tough to conclude that rising rates is a net win here …