OK, in a rich nation the wealthiest – the top 20% by income at least – suffer badly. The ‘Tater then says:
It will be no surprise to anyone that the biggest negative impacts of inflation are on those in the poorest groups in society and that relatively speaking those in higher-income groups do much better.
Jeez, can’t he even read a chart these days?
But there is what the IMF call a surprise outcome for governments:
FFS, they did;t call it a surprise outcome. They said that surprise inflation lowers the debt to GDP ratio for the government, expected inflation does not. Something we’ve all known for getting on for a century now. Otherwise known as you can only inflate your way out of debt if no one expects the inflation.
OK, I’ll bite… in both charts it seems that the poorest quintile do worst. If Richie’s reading that chart wrong then so am I. So what am I missing?
In the advanced economy (France – ahahahaha) the richest 20% do second worst…..
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