Is the current hysteria over inflation only in the interest of the rich?

Question

Is the current hysteria over inflation only in the interest of the rich?

Answer 1

People who are interested in building their wealth instead of squandering it on expensive items like fancy cars, homes, vacations, clothes, jewelry, technology, and the latest "in" item, tend to benefit from inflation because interest rates increase on things like certificate of deposit, savings accounts, bonds, etc.  So people that are interested in SAVING and GROWING their money instead of spending it make more on their savings.  So it could be said that inflation benefits the rich.

Answer 2

No. The rich are affected far less by inflation than the poor.

Answer 3

Who are the rich people! Is it someone who has more than you. You may have much more than me and I could consider you rich.

Inflation isn't in anyone's interest. It's bad for everyone.

Answer 4

No. the rich have a vast margin to allow for inflation, whereas the poor have to suffer. it's always been the same and it will never alter. if the price of a gallon of gas was $100, the rich could afford, the not so rich No, No.

Answer 5

Inflation affects us all hun, its not selective.

Answer 6

No. Poor people are just as much affected by rising fuel and food prices as the rich - probably even more so as the rich can afford these changes more.

Answer 7

No, inflation will eat away at retirement accounts, so all the money that ordinary people saved for retirement will be decline in value.  When these people retire, expecting to live off their savings, they'll find that they don't have as much as they thought because of inflation.

Answer 8

yes it is..this country and all the tax laws etc are for the benefit of the rich...and gentry

Answer 9

I guess so, i just put my head down and get on with it, ive always known i have to scrimp for anything ive got, and it probably will never change

Answer 10

No, not at all.  As a pensioner on a low, fixed income it is very difficult to stretch your cash to meet all the bills and buy food etc. when the price of everything except your income keeps increasing.  It means cutting down , so that holiday, new clothes or shoes, new spectacles etc. become a thing of the past.   The rich may moan about inflation, but it is the lower income people that feel it the most.

Answer 11

Ok u're question doesnt make sense. Do u even know what inflation means??????

Answer 12

isn't it always in their interest.

Answer 13

the rich are far less affected by inflation increase than the poor,  the rich have greater savings which compensates them for the increase.

Answer 14

You must be rich or you wouldn't be asking.