> Huh? Literally everybody grasps this. This is the most widely parroted mainstream narrative about the economy right now on the internet.
That may be the case but traction on this narrative was near zero if not negative even say two months ago. "Inflation? The poor are in debt, so it's good for them right? Lel"
More importantly the professional pundit class (neoliberal economists like krugman) and even the socialist-adjacent MMT theorists do NOT see things this way and push hard for policies that while well meaning will likely result in stealing even more from the working class. The media of course feeds off of this class so it may (finally) be part of the "internet discourse", it's not part of the "mainstream discourse".
> In an instant, wealth inequality will start shifting the other direction, and valuations will fall
No, if you understand the mechanism of how inflation steals from the labor class, you would know that "it doesn't work that way". It is not an "instant reversal" of wealth inequality, except for if the crashes brought out by the interest rate hikes are accompanied by not bailing out the wealthy, and we all know how the track record on that has been going.
That may be the case but traction on this narrative was near zero if not negative even say two months ago. "Inflation? The poor are in debt, so it's good for them right? Lel"
More importantly the professional pundit class (neoliberal economists like krugman) and even the socialist-adjacent MMT theorists do NOT see things this way and push hard for policies that while well meaning will likely result in stealing even more from the working class. The media of course feeds off of this class so it may (finally) be part of the "internet discourse", it's not part of the "mainstream discourse".
> In an instant, wealth inequality will start shifting the other direction, and valuations will fall
No, if you understand the mechanism of how inflation steals from the labor class, you would know that "it doesn't work that way". It is not an "instant reversal" of wealth inequality, except for if the crashes brought out by the interest rate hikes are accompanied by not bailing out the wealthy, and we all know how the track record on that has been going.