3 ms·
>Workers' savings become worthless through inflation. Are your workers keeping their savings a hundred years? It takes about 21 years for inflation to cut the
by ChrisLomont 12y ago
>Workers' savings become worthless through inflation.
Are your workers keeping their savings a hundred years? It takes about 21 years for inflation to cut the value of savings in half.
Workers tend to have loans, such as car, house, college, etc. Inflation helps them by making their loans cost them less to make fixed payments on over time. Inflation costs lenders, not debtors.
If a worker has substantial savings, then they should not hold it in cash, which has always been a terrible idea. Diversify, and invest in multiple classes of assets.
Thus inflation is a net benefit to workers.