Before I continue, look at this video from a rich man who admits everything I said and then some, applicable to himself and others like him. Don't skip it, look at the comments too:

Chamath: I was wrong. The economy is broken

https://www.youtube.com/shorts/PD-FlgD_ILw

> There are TWO sides to debt.

Strawman. Nobody claimed there's only one. My explanations considered both sides while you use banalities as distractions.

> The rest is making the same mistake as you keep making here. High inflation provides a (partial) reset.

I'm not making any mistakes, I explained why the poor gain nothing from inflation - because of their high interest rates and frequent borrowing at interest rates rising with inflation. On the other hand, the rich having plenty of collateral, borrow a lot more, locking in low interest rates for long term loans which lead to them gaining significantly from the erosion of the interest they pay. Moreover, the rich have pricing power too, they increase the price of their assets output, including rent, while they suppress wages with their wage-setting power - they control the game.

So if the rich gain from this purely financial, zero sum scheme, somebody's got to lose and there's nobody else in it besides the wage earning poor and middle class.

You mistake is to think that you can cure the effects of high cost of living with inflation. But the high cost of living is due to inflation... so you are trying to convince me that we can cure inflation with more inflation. In other words you're like a firefighter who puts out gasoline fires with more gasoline. Nice try.

Apparently you grok neither economics nor logic, so you have to rely on insiders to tell you the truth every now and then. I quoted Trump, you skipped that, but don't forget to see the video I linked above.