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A comment on Forget Google, time to end the Visa-MasterCard duopoly. Parent comment

Re:Forget Google, time to end the Visa-MasterCard duopoly by gruez on Monday June 29, 2020 @11:41PM (#23686300)
> Inflation doesn't affect the poor so long as wages keep up with inflation

Does it? In an inflationary environment the status quo is that your wages shrink. I guess it’s better than holding cash because you can renegotiate your wages back, but I don’t think rich people have most of their assets as cash.

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Re:Forget Google, time to end the Visa-MasterCard duopoly by arcticbull on Monday June 29, 2020 @11:41PM (#23686305)
> In an inflationary environment the status quo is that your wages shrink.

The US is a classical inflationary environment and wages have kept pace with inflation forever.

Indeed, inflation only, and intentionally, punishes those who hoard cash.

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Re:Forget Google, time to end the Visa-MasterCard duopoly by gruez on Monday June 29, 2020 @11:51PM (#23686365)
Not always, depending on your timeframe. eg. if you look at https://upload.wikimedia.org/wikipedia/commons/a/a4/United_S... there’s about 2 decades where the real wage went down.
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Re:Forget Google, time to end the Visa-MasterCard duopoly by arcticbull on Tuesday June 30, 2020 @12:27AM (#23686558)
Fair enough.

I would note that chart begins prior to ending the gold standard in 1971, and it has tracked very well since 1995.

I was off-base when I said "forever." I should have said in recent history.

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