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.