the poor pay next to nothing in inflation 'tax'. the transfer payments (ie, welfare , food stamps, free medical care) by necessity track inflation, and since they have no assets or cash, there's nothing to lose to inflation. its all being funded by those of us with capital.
I thought assets are, more or less, inflation proof, and that is exactly why the poor are affected more by inflation, as they don't have any assets.
It's more like 600 million people. They don't live, they barely survive. They don't live/survive on $2 per day <i>in the US</i>; there are places in the world where you can have a decent lifestyle with a couple of hundred bucks a month; the US is not one of them.
Let's look at why would there be riots - poor people are getting so much now, you are saying they would riot if no unemployement insurance, no healthcare, no welfare - ok Why would the govt do that - they can continue to print money no matter what anyone says and govt. officials know they may be the next ones on welfare, unemployment, etc. What that money is worth can go up and down, but it is good everywhere in the U.S. for now at least. You say noone cares - I don't think Japan, Europe, South Korea and quite honestly Saudi Arabia, and alot of others etc. want the U.S. to "go under" to where we pull ALL our troops out of foreign areas and decide we won't help, do you? Who did Greece and Ireland save? Japan, Germany, South Korea, etc. would help the U.S. sooner then have the U.S. threaten to pull back all military to save money. Does Saudia, Canada, even Venezula, etc. want the U.S. consumer to not need oil? There SHOULD be welfare reforms, etc. but we are far from widespread riots in the U.S. JJacksET4