I could be wrong but aren't most pensions linked to inflation? I guess they could lag a bit, though. I'm also not sure there are that many people, in the US at

I could be wrong but aren't most pensions linked to inflation? I guess they could lag a bit, though. I'm also not sure there are that many people, in the US at least, on an actual fixed income. As for people with low income, if unemployment is high, then there's a decent chance they're out of the job without devaluation (according to this point of view) so overall there may be more economic hardship without the devaluation.