first, there's plenty of reason to believe that the current inflation is (a) a largely artificial result of comparing today's prices to price last year, when they were artificially *low* because of the pandemic and (b) a temporary phenomenon as things get back to normal as the pandemic hopefully is coming to a close.
second, inflation only really harms savers -- those with cash-based assets that lose value as prices rise. many americans have debt, which because less of a burden with inflation. so homeowners benefit as the home prices rise but the debt becomes easier to pay down.
for many middle class americans, the home and mortgage are by far their largest financial exposures, so the benefit of financial benefit of inflation to them as homeowners far outweighs the financial cost of routine purchases rising faster than wages (wages also tend to go up with inflation, but usually they lag relative to other prices). granted there may be a cash flow challenge, but if it's a big enough problem, a home equity loan or mortgage refinancing can solve that.
even non-homeowners who simply have a lot of consumer debt may wind up better off, again, there may be a cash flow challenge, but the debt becomes easier to pay off once wages start to rise.
*rich* americans, yeah. nearly every single *rich* american is worse off with inflation. again, unless they have a ton of debt.
= new reply since forum marked as read
