Don’t panic over milk prices. Inflation is bad for the 1 percent but helps out almost everyone else.
It’s true, we’re talking about the cost of milk having gone up from say $10.00 last year to $10.62 this year, due mostly to supply constraints from the pandemic last year. But wages went up 5.8% for ordinary people as well, basically keeping up, as is often the case with inflation.
But the reason why the media is screaming bloody murder is because the wealthy that own the media are also creditors of a lot of the $14.5 trillion in American household debt, and with a 6.2% increase in inflation, that means that the real value of that debt is now just $13.65 trillion! $850 billion dollars lower!
In other words, the inflation over the past year has effectively transferred $850 billion in wealth from creditors to debtors. That’s a lot of money.
That’s almost a trillion dollar wealth transfer from the rich to the rest of us, the common people.
Source: Inflation Is Good for You