What about debt is relevant? Sure, if you’re in debt then a sense you “owe less”, in that the units you owe are now worth less. But practically speaking, if you’re an hourly or salaried employee that’s too poor to own significant securities or real estate assets and your wages don’t keep pace with inflation (wtfhappenedin1971.com), that’s a totally meaningless ivory tower economics point. You’re just further priced out of those assets, are paying more for the consumer goods you need to live that are now inflated, and you’re still paying the same dollar amount on your debt.