[quote=carlsbadworker]The way I look at, deflation is really bad for the rich people (snip). (On the other hand, inflation is bad for ordinary folks
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I think this is a really bad way to view things. Deflation is really bad for those who own assets and for people who owe lots of money.
Think about that for a minute. The asset holders are probably wealthy, but the ones who owe lots of money are just as likely to be poor or middle class as wealthy.
Conversely, deflation is good for those who have lots of savings or have few if any debts and people on fixed income. Again, think about it. The ones who are likely to have savings are probably wealthier, but those will little debt could be anywhere on the spectrum, and those on fixed income are usually retired or on disability (generally not what I think of as wealthy).
So, it seems to me that trying to define this issue in terms of class is fairly unsupportable when you think it through.
