In the long run. If wages go up for one group, wouldn’t all wages eventually go up. And then when costs go up there, don’t all costs go up everywhere else. Rents go up… materials goes up…etc??
So in the end long run, everyone is still relatively the same to each other as everyone else, no?
with maybe the exception that
1. Debtors of fixed rate loans win big
2. Creditors of fixed rate loans lose big
3. People that parked their assets in fixed income get screwed….
