Debt of the affluent... It's strange how the visibility of a simple mechanism of a hugely complex machine makes people unable to understand what is really happening. Poor people hold money and cash so inflation erodes their savings... That is the basic theory people come up with and it makes sense to them because they can feel it. They can't feel all the jobs that were created by that inflation. They can't feel all the income they earned thanks to that inflation.

Come on. What you are writing doesn't make any sense. If the rich are net debtors, that means the poor are net creditors. The rich have none of the money, the poor have all of it. How does that make any logical sense? Why would the poor be poor if they have money?

If the rich are net creditors, then it's pretty obvious that they want low inflation and high interest rates. By creditor I just mean people holding onto liquid credit, not that the money was lent out.

If inflation is persistent then congratulations, you are now in an economic boom and everything will be great. I honestly don't believe that inflation will stay.