Why inflation can actually be good for everyday Americans and bad for rich people
CNN
No one likes paying more for stuff. That's why inflation, especially the sharp price increases we've seen in recent months, feels like a dirty word.
But on the whole, inflation can actually be a good thing for many working-class Americans, especially those with fixed-rate debt like a 30-year mortgage. That's because wages are going up, which not only empowers workers but also gives them more money to pay down debt. Plus, in the case of a mortgage, your monthly payment will be the same but your house will increase in value.
And many of the people taking a bath when prices rise are higher-net worth people who hold the vast majority of government bonds.
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