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That’s just wrong on so many levels. If I look at just one error, inflation doesn’t affect everyone it is a tax on savers ie the rich. Wages and prices go up with inflation (prices by definition), but cash and savings go down in real terms.

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mixmastamyk 14 days ago | parent | next [-]

Rich folks don’t keep their money in savings accounts. Rather real estate and securities, which scale with inflation.

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jbjbjbjb 14 days ago | parent [-]

The global bond market is bigger than the global equity market - look it up. It’s held by someone and it ain’t poor people.

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mixmastamyk 14 days ago | parent [-]

Bonds can respond to inflation in a few ways. Tips, shorter terms. If you locked in a low rate, long term, yes.

	▲	jbjbjbjb 14 days ago \| parent [-]
		You could do floating rate notes too. But fixed rate bonds are by far the largest portion of the bond market and cash on hand is always a big component.

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gghhzzgghhzz 14 days ago | parent | prev | next [-]

debt goes down in real terms

but "tax on savers ie the rich"

rich normally are rich enough to protect their savings from inflation. e.g. by putting it in an effective monopoly - land or housing (housing is a monopoly if you also are rich enough to have some influence on what / where houses are built / not built)

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Spooky23 14 days ago | parent | prev [-]

Look around, bro. Hard assets get more expensive and return on those assets don’t decline. Thats why studio apartments are $1200/mo in Buffalo, NY. Lol

People with money pretty readily deploy that money into investments that beat inflation.

	▲	jbjbjbjb 14 days ago \| parent [-]
		Sure but rich people also have lots of cash and bonds, at least more than the poor. Poor people don’t have either, their best inflation hedge is borrowing.