You are completely ignoring equity and are therefore incorrect. I was speaking about net worth, not whatever concept you're talking about ('outstanding cash-denominated leverage?')
>we are having a shift whereby many people on net own less than zero.
Yes, c. 50% of Americans, all of whom benefit from (wage) inflation in that scenario
> it will still likely be bad for the poorest because wages tend to lag behind inflation and if the poorest people need their wages to service their debts they might still be falling behind more as a result of inflation.
Source? This chart [0] seems to run counter to your claim, wages for non-supervisory employees move pretty in-line with inflation...
>As always inflation will still be bad for anyone who is attempting to save money.
Inflation and savings account interest rates have a complex relationship. For example, you could get 8%+ on a CD in 1990[1], when inflation was at about 6% (2% real yield). In the famously low inflation 2010's, you could maybe get 2% (0.5% real yield).
>On top of all this we have things like the Cantillon effect, so I just don't think higher inflation is as good for the poor - even with their newfound indebtedness - as people might be claiming.
Poor Americans being in debt is not new and not related to inflation. An re:Cantillon, a lot of work on pricing has been done since then, but I'm assuming from the above it's not really worth getting into here.
[0]https://fred.stlouisfed.org/graph/?g=Jc6L [1] https://www.depositaccounts.com/blog/historical-cd-rates.htm...