The French guys seem to get it (Deluard is French, right?) As Louis-Vincent Gave said in 2021: "I grew up in France, so I had a good dose of Marx in my education. The first thing Marx teaches you is that revolutions are typically the result of inflation."
This notion that inflation is good for poor people is fairly prevalent and ridiculous. For starters, many of the 35% of the country who don't own a home have probably been priced out for a very long time.
I think the idea that inflation is good for the poor is based on the idea that inflation erodes the real value of debt. But the poor are less likely to own homes and benefit from fixed rate mortgages at low interest rates and more likely to have credit card balances that are sky high and have variable rates. The poor get totally hosed when food, energy and housing goes up. So it is baffling to think inflation helps the poor.
Bloomberg - "Inflation is a lesson in appreciating what you had instead of just complaining about losing it." (C) Central Wankers, Rothschilds and Rockefellers
I saw a video on TikTok the other day with a woman crying after filling up her car. Sobbing she said, I'm not going to be able to eat today. Yea inflation is great for poor people.
This notion that inflation is good for poor people is fairly prevalent and ridiculous. For starters, many of the 35% of the country who don't own a home have probably been priced out for a very long time.
I think the idea that inflation is good for the poor is based on the idea that inflation erodes the real value of debt. But the poor are less likely to own homes and benefit from fixed rate mortgages at low interest rates and more likely to have credit card balances that are sky high and have variable rates. The poor get totally hosed when food, energy and housing goes up. So it is baffling to think inflation helps the poor.
Bloomberg - "Inflation is a lesson in appreciating what you had instead of just complaining about losing it." (C) Central Wankers, Rothschilds and Rockefellers
https://twitter.com/opinion/status/1539803659302830082
I saw a video on TikTok the other day with a woman crying after filling up her car. Sobbing she said, I'm not going to be able to eat today. Yea inflation is great for poor people.
Wen sound money?