If you have existing debts locked in at lower rates, high rates/inflation can be potentially beneficial. Your debts devalue faster (and hopefully your income also inflates too).
If you want to get into new debts, this is very bad. When you consider structural wealth inequality, this is a slippery-slope that favors the big players, just like always under capitalism.
If you have existing debts locked in at lower rates, high rates/inflation can be potentially beneficial. Your debts devalue faster (and hopefully your income also inflates too).
If you want to get into new debts, this is very bad. When you consider structural wealth inequality, this is a slippery-slope that favors the big players, just like always under capitalism.
Income isn’t inflating at anywhere near the same rate as inflation or interest though
yeah asking for a 7% raise every year is nuts. But it shouldn’t be.