So inflation benefits the rich and deflation benefits the poor? Krugman has it backwards, then? Thanks for the tip.
You have savings under a mattress, or in some other vehicle that doesn't pay interest? Sounds retarded.
Inflation only really affects dollar-denominated accounts that don't bear (enough) interest. Everyone needs to have some money in such accounts (checking accounts, cash) for short-term spending purposes. For poor people, this is usually the majority of their holdings; for wealthy people, it will only be a tiny fraction. Thus, inflation has a larger impact, percentage-wise, on the poor. Inflation also produces downward pressure on effective wages, since workers have to keep getting raises just to maintain parity.
I think that inflation is dramatically higher...
We've started a habit of creating periodic Bitcoin threads to confine discussion thereof to those threads and prevent excessive proliferation of Bitcoin topics in the discussion section. Here is a link to the last one, which links the other discussions. Lot's to talk about, and another bounce in Bitcoin's value (up to 33 then down to 24), so share your links and thoughts!