There are a few winners in an inflationary environment, as Keynes pointed out. It allows companies to show a sales increase. Aspiring or actual billionaires favor inflation because they no longer struggle with paying for tuition, healthcare, or retirement. They’re in it for the game, and the game is to make more billions—and inflation speeds up the process. Debtors favor inflation, but only when central banks push yields below free market rates, thus blocking creditors from pricing inflation into the loan. And Congress, which refuses to live within its means, loves inflation; it’s the cowardly way of mitigating the consequences of endless budget deficits.
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