Comments by "Fumble_ Brewski" (@fumble_brewski5410) on "Inflation: What's Causing It and Why? (COVID and LABOR) || Peter Zeihan" video.

  1. Economist Eliana Cardoso pointed this out in her seminal 1992 work on inflation, which she described as “the cruelest tax.” It wipes out the savings of the middle classes and pushes many of them below the poverty line, and in the process increases inequalities in society. Compared with more affluent families, low-income households are more sensitive to even small price rises that can push them deeper into the poverty trap. As prices go up, low-income households either look to borrow more money, or resort to buying low-quality food, avoiding heating their homes, or avoiding the purchase of adequate clothing. Doncha’ just love “capitalism”? 💸
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