Re:Can the West’s perplexing employment miracle continue?
by ethbr0 on Monday March 06, 2023 @06:51AM
(#35039938)
There's also one big winner in an inflationary environment: the US federal government, who happens to owe a LOT of debt.
Inflation shrinks the present value of that debt, without requiring the government to cut spending to pay it down, which would have serious economic consequences (see: austerity).
Inflation shrinks the present value of that debt, without requiring the government to cut spending to pay it down, which would have serious economic consequences (see: austerity).