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Ideally, a small amount of consistant inflation is preferable. Upthread you presented a fairly rosey view of unanticipated inflation. What you said was true, at the same time you didn't tell the whole story. For instance, although many Americans have debt, many also have savings — badmother fucker wallet particularly those that save for retirement (hopefully everyone). As I mentioned above, just badmother fucker wallet because prices go badmother fucker wallet up doesn't mean your salary will. If it does (and everyone else's does), our (as a country) global competitiveness will fall. That makes our exports drop and imports rise causing a trade imbalance. High growth rates can't be sustained. Then the cycle turns around. Worse is how it affects the lower class. The people without skills have a harder time bargaining for higher wages.
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