Quote (JessiWan @ Nov 8 2021 04:25pm)

Which means you will have to pay higher property tax.

Quote (cambovenzi @ 8 Nov 2021 16:56)

Quote (NetflixAdaptationWidow @ 8 Nov 2021 23:27)

That's fine. Inflation is good for wages and for reducing debt.

Let's get it on. 10% yoy plz

Quote (Black XistenZ @ Nov 8 2021 06:30pm)

Inflation is good for nominal wages, but bad for the purchasing power of any salaried worker who can't renegotiate his pay on short notice - and also for most pensioners or persons who otherwise rely on fixed income entitlements.
At the end of the day, inflation is a redistribution of wealth from creditors to debtors, from tenants to landlords and from small depositors to those owning stock or property.
Now, guess which class owns most stock and property - correct, the super rich.
Guess which type of worker tends to have the least leverage to negotiate higher wages - correct, the poor and minorities.
Definitely interesting to see a self-avowed lefty like you cheer for this kind of redistribution which goes mostly in favor of landlords and billionaires, just because it happens to benefit you personally. ;)

Quote (NetflixAdaptationWidow @ 9 Nov 2021 01:33)

That would be the case if we weren't in the middle of labor shortages, meaning those poor and minorities are in perfect positions to renegotiate wages.

I'm actually a salaried worker who can't renegotiate pay on a short term basis, so my benefit isn't as great as you imagine.

Regardless, I'm not really being serious. I know there's lots of issues with inflation and massive inflation causes huge problems for small businesses. Y'all need to have your sarcasm radars checked.

Quote (Black XistenZ @ Nov 8 2021 06:40pm)

I was more-than-half joking as well. ;)

The thing with the labor shortages is that they can end very abruptly due to automation or outsourcing. For all the talk about covid causing lingering supply chain issues and therefore spurring transitory inflation, I think that these labor shortages are also caused by covid, but will end up being even more transitory.

Also, we have to keep in mind that rising wages have historically been one of the major drivers of inflation, so if there are higher wages/salaries across the board, chances are that this will in itself cause inflation to persist.

And last but not least, this time around (and unlike during the 70s/80s), central banks around the globe are not in a position to counter with interest hikes should things get out of control on the inflation front.

Quote (NetflixAdaptationWidow @ 9 Nov 2021 01:59)

although, poor people also tend to be in a lot of debt, so it might just be a wash.

Quote (MSX98 @ Nov 9 2021 02:08pm)

Quote (MSX98 @ Nov 9 2021 03:08pm)