I'm far from an economist myself... but there is relevant debt beyond individuals' debt. There is national, foreign, state and city, etc... an argument could be made that some of this debt is even exported abroad.
Inflation, might not make goods and services cheaper, but it can have an effect that can be used to one's advantage.
I've already mentioned mortgages, but it might be the same with many other loans and services. Assuming interest rates are low enough (if not zero), then deferring the whole payment means that you retain money to work for you, as well as take advantage of the effects of inflation on the overall financed amount as long as the period is long enough.
Locking in service rates (grandfathered) can work to your advantage as well, depending on the service agreements of course.
I'd say there are a lot of people with bad debt, but often times that comes as a result of hardship, or just bad financial decisions and life choices.
Those that have no debt are probably not going through financial hardships, but should probably start accruing manageable debt to avail from the effects of inflation, retain more money so that it can work for them, and build credit history to become more debt-worthy.
Saving money is just losing money due to inflation and lost potential. It's a difficult one bc we all know we should keep a certain amount of money just in case, and putting it somewhere where it's working for you but still liquid if needed is quite difficult. If times get hard and you need to liquidate your investments, chances are that you will be losing a lot bc when times are hard, investments are down.
Saving money is really quit discourage, and there are some pretty compelling reasons why this is a good thing. Money that is saved is usually money that is out of circulation. As a result, it's not doing any "work" and fewer goods and services are purchased and economies slow as a result.
Inflation, might not make goods and services cheaper, but it can have an effect that can be used to one's advantage.
I've already mentioned mortgages, but it might be the same with many other loans and services. Assuming interest rates are low enough (if not zero), then deferring the whole payment means that you retain money to work for you, as well as take advantage of the effects of inflation on the overall financed amount as long as the period is long enough.
Locking in service rates (grandfathered) can work to your advantage as well, depending on the service agreements of course.
I'd say there are a lot of people with bad debt, but often times that comes as a result of hardship, or just bad financial decisions and life choices.
Those that have no debt are probably not going through financial hardships, but should probably start accruing manageable debt to avail from the effects of inflation, retain more money so that it can work for them, and build credit history to become more debt-worthy.
Saving money is just losing money due to inflation and lost potential. It's a difficult one bc we all know we should keep a certain amount of money just in case, and putting it somewhere where it's working for you but still liquid if needed is quite difficult. If times get hard and you need to liquidate your investments, chances are that you will be losing a lot bc when times are hard, investments are down.
Saving money is really quit discourage, and there are some pretty compelling reasons why this is a good thing. Money that is saved is usually money that is out of circulation. As a result, it's not doing any "work" and fewer goods and services are purchased and economies slow as a result.