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You're right, they don't have a lot of savings - but doesn't that make it even worse for them, because that means their income is basically all their wealth. An
by ffsm8 2y ago
You're right, they don't have a lot of savings - but doesn't that make it even worse for them, because that means their income is basically all their wealth. And this is objectively even more impacted by inflation as I said before, because it keeps getting worse with every year, because most workers do not get raises equivalent to inflation.
And I think you'd agree too that assets become more valuable by inflation (because that's kinda the definition of the term), and that consequently means that if your net worth is mostly assets, as every rent seekers portfolio is - you really do like inflation.
Even if you're right that the people heavily in debt also gain by having it devalued via inflation: I don't think it'd have enough impact to offset their depreciated wage and the additional cost of living though - but that's just my personal expectation