Re:Cryptocurrencies’ Carbon Footprint Underestimated
by endisneigh on Tuesday October 05, 2021 @04:16PM
(#28765012)
You're not wrong, the the middle class has far more savings than the poorest quartile. Is it this you disagree with?
Re:Cryptocurrencies’ Carbon Footprint Underestimated
by reedjosh on Tuesday October 05, 2021 @04:38PM
(#28765304)
I disagree that the middle class is hurt the most.
Whoever can leverage the most debt for assets benefits the most under an inflationary scheme. This tends to be banks and generally wealthy people.
Stated inversly the poorest are hurt the most as they are least a part of this wealth generating scheme.
Cash savings is largely irrelevant. Most Americans are net negative cash wise via credit cards. So stating the middle class is most hurt doesn't follow logically.
I'm basically middle class, but to keep a substantial cash savings would be financial idiocy in this inflationary system.
Re:Cryptocurrencies’ Carbon Footprint Underestimated
by imtringued on Tuesday October 05, 2021 @04:55PM
(#28765506)
So who's losing if nobody has any meaningful monetary savings? Sounds like the rich because they will put like 5% of their portfolio into cash and higher wages eat into real wealth.
Re:Cryptocurrencies’ Carbon Footprint Underestimated
by lottin on Tuesday October 05, 2021 @05:28PM
(#28765848)
Basically everything you say is wrong. Inflation is typically priced in and therefore has little effect on debts.
Re:Cryptocurrencies’ Carbon Footprint Underestimated
by elvatoloco55 on Tuesday October 05, 2021 @05:55PM
(#28766178)
You have no idea what you are talking about lol
There is no inflation Inflation is transitory Inflation is actually good
That was priced in? How about in other countries? Where the next day the currency devaluates 50%?
The middle class typically has a mortgage and student loan debt for which inflation benefits them.
The closer you are to the spiket, the more debt based inflation benefits you.
The poor do lose the most.