The popular idea that prices should fall to previous lows gives most economists chills. Deflation is bad for everyone, they say.

  • Rocket@lemmy.ca
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    1 year ago

    inflation can surprisingly help the poor by making debt worth less.

    What kind of poor person is being extended credit? That would be lender suicide. Debt is a tool of the rich.

    • SkepticalButOpenMinded@lemmy.ca
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      1 year ago

      Poor people have tons of debt. Student loans, credit cards, car loans, rent-to-own furniture/appliances, pay day loans, medical debt in the US and recently installment purchases online. A lot of these are definitely extended to poor and lower middle class people.