The popular idea that prices should fall to previous lows gives most economists chills. Deflation is bad for everyone, they say.

    • SkepticalButOpenMinded
      1·
      1 year ago

      Poor people have tons of debt. Student loans, credit cards, car loans, rent-to-own furniture/appliances, pay day loans, medical debt in the US and recently installment purchases online. A lot of these are definitely extended to poor and lower middle class people.