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At least we don't have hyperinflation. That's even worse for the poor. Though to be sure I agree with you. We really need to fix this, but it's not going to happen. Right now we're paying an enormous -unprecedented?- political attention tax that is starving lots of important issues of oxygen.





Inflation doesn't affect the poor so long as wages keep up with inflation. If you don't have money, there's nothing to inflate.

They did say hyperinflation.

Characteristic of hyperinflation, is that nothing keeps up with it. Forget wages keeping up: your very paycheck is worth less at the end of two weeks than it was when you received it.


Your comment makes me think you weren't even close to hyperinflation, ever.

Sincerely, a guy who survived 313 000 000 % inflation per month.


> Inflation doesn't affect the poor so long as wages keep up with inflation

Does it? In an inflationary environment the status quo is that your wages shrink. I guess it’s better than holding cash because you can renegotiate your wages back, but I don’t think rich people have most of their assets as cash.


> In an inflationary environment the status quo is that your wages shrink.

The US is a classical inflationary environment and wages have kept pace with inflation forever.

Indeed, inflation only, and intentionally, punishes those who hoard cash.


Not always, depending on your timeframe. eg. if you look at https://upload.wikimedia.org/wikipedia/commons/a/a4/United_S... there’s about 2 decades where the real wage went down.

Fair enough.

I would note that chart begins prior to ending the gold standard in 1971, and it has tracked very well since 1995.

I was off-base when I said "forever." I should have said in recent history.




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