this post was submitted on 21 Sep 2023
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The popular idea that prices should fall to previous lows gives most economists chills. Deflation is bad for everyone, they say.

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[–] Rocket@lemmy.ca 1 points 1 year ago* (last edited 1 year ago) (1 children)

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.

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.