Re:What the world will be like in a hundred years (1922)
by Spooky23 on Thursday January 06, 2022 @11:47PM
(#29835014)
Some debtors and people who own hard assets benefit from inflation.
People with more ephemeral assets and in service business are harmed by inflation. The service sectors in particular are full of low quality, debt-laden companies who can’t withstand interest driven financial stress.
This is exactly my point: someone who borrowed money for, say, university or to buy a house or a car is helped by inflation. By comparison wealthier people who are more likely to have bought those assets outright, are not. And the wealthiest people who are - directly or indirectly - the ones lending out money to other people see their wealth transferred to the first group.