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A comment on Inflation climbs higher than expected in June as price index rises 5.4%. Parent comment

Re:Inflation climbs higher than expected in June as price in... by spamizbad on Tuesday July 13, 2021 @10:16AM (#27821265)
No idea why this is downvoted. Its true - inflation can be good for those who carry large debts.
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Re:Inflation climbs higher than expected in June as price in... by WillPostForFood on Tuesday July 13, 2021 @10:32AM (#27821451)
You better have fixed rates. It isn’t going to help lower income people who are more likely to have credit card debt or variable rate mortgages.
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Re:Inflation climbs higher than expected in June as price in... by mywittyname on Tuesday July 13, 2021 @12:55PM (#27823295)
Fixed rates are the standard for mortgages and car loans.

An outcome of the Great Financial Crisis was a move away from ARMs through a rise in rates and in income levels necessary to qualify for them. Plus, banks prefer fixed rates in a declining rate environment (basically the past 10 or so years.).

But yeah, credit card debt is never good.

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Re:Inflation climbs higher than expected in June as price in... by spamizbad on Tuesday July 13, 2021 @10:35AM (#27821473)
Most low income people are already paying near their maximum legal rate on credit cards.
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