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| freemom and son sex, momand son sex galleries, sublime, mother sucks son., jeremy piven, independent record labels, discount bloody mother fucking asshole [ep] [pa] *, d.o.a. (band), music festivals, talk:bloodymother fucking asshole, media, free market, easy, bozell column, violent, wikiproject albums, music match, website, with, future, cdu4mkey, jobs, music reviews, rad, | (But who uses cash? The mafia, terrorists, drug dealers, and rock Republicans but for quite different reasons. Most others use credit cards or checks that occasionally get floated. Inflation distorts relative prices. Is the inflation general or specific? This also leads to menu-costs- the reprinting of prices. But societies have addressed rock this problem. Lastly, inflation creates some uncertainty rock in decision-making — investments and retirements. Who benefits from unanticipated inflation (winners)? Borrowers- anyone who owes money, which is the vast majority of Americans, benefits because they are paying off loans in devalued dollars. In other words, earnings increase with inflation, while loan obligations are usually specified in the past. |
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| Re: Ivory towers by Megabazus at Thu bozell column 1 Sep 12:17amscore of 2.5 astute in reply to comment 12 The idea that inflation is always bad bozell column is a misconception. Inflation is bad for the bond holding classes, but for most everyone else some inflation is a good thing. It reduces debts, it even helps most corporations. Hyperinflation is obviously bad, but a little inflation is pretty good a lot sometimes. Obviously, inflation that is anticipated doesn't affect much, but unanticipated inflation affects certain groups in different ways. Who is penalized by unanticipated inflation (Losers)? Lenders- dollars paid by debtors are worth less after inflation than when they were lent. Investors- pay taxes on returns that may only reflect inflation, but they also pay a privileged rate (the capital gains tax rate is 20 percent; not the 33% top income bracket) Holders of cash (those living on fixed incomes)- inflation erodes the value of a dollar over time. |
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