Inflation deflation.... These terms are irrelevant. House prices crashing...wait I thought things were going to get more expensive. Stocks crashing....wait I thought things were going to get more expensive. Gold rising....I thought gold needs inflation to rise? Then why did it lag for 20 years? Oil...Is it up 100% from the lows or down 50% from the highs?
At some point, inflation financially destroys everybody... even the rich. You have not experienced hyperinflation. Google Weimar Republic.
An old post from that gnome guy... "... 1. "Stock market benefits from high inflation.." The market "benefits" in nominal terms... but it's only because the currency is being crushed. The OWNERS of stocks get wiped out from the currency. Classic recent example... Turkey 1982-2005. The "market" went up more than TWO MILLION percent.. at a 68% average compounded rate of return... but the currency lost so much that EVEN IF YOU WERE IN FOR ALL 2,000,000%, your capital still lost 98% of its buying power. (I'm recalling the numbers from memory.... you can Google to verify) 2. "Inflation doesn't hurt the rich"... The inflation and currency debasement will financially bankrupt nearly EVERYBODY.... rich included. The poor never had anything, and they will still be poor. The rich will have had all of their capital sucked dry and be poor too..."
which post was deserving this badge of infamy the prior post or the 1st post on this thread? in general, there are so many deserving ones on ET.
To an extend the OP is right, without the obvious hyperbole. My grandma payed 2 cents to take the bus. I pay like 5000 times more to take the bus. Would I want to change places? I think not.
I lived through one hyperinflation. The outcome was as follows. The politically connected with vast access to credit, (the hands that got first use of the freshly printed money) bought hard assets or productive economic entities and made out like bandits. The middle class was wiped out. The dead beats had their debts forgiven. There was nothing in it for me. There will be nothing in it for me if another one happens.