Maybe so. In many cases it’s the LENDER who ultimately gets screwed. If you’re paying off a mortgage at 3.5% and the Fed is reporting inflation of 5% that’s probably half of the real inflation rate, then you should theoretically borrow as much money as possible and pay your expenses as slowly as you can.
There is a scripture that covers some aspects of you post....
Proverbs 28:8 8 “He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.” It sounds like a socialist message or at least a verse that marxist minded Christians might seize upon but I think the key is “unjust gain” via usurous interest rates.
The uber-rich anti populationalists want their cake and eat it but money can concentrate in a few hands only for so long before the imbalance gets too unbearable for the populace and wars and revolts happen.
Sometimes if you follow the money, you find a worried rich psychopath at the other end trying to screw over governments and everyday people in trying to steal and keep what was never his by means of deceit. Unfortunately enough of such monsters gathered in the wrong places can warp and destroy countries.
“If you’re paying off a mortgage at 3.5% and the Fed is reporting inflation of 5% that’s probably half of the real inflation rate, then you should theoretically borrow as much money as possible and pay your expenses as slowly as you can.”
Absolutely.
Inflation favors the borrower.
As the holder of a 2.0%, 30 year mortgage, inflation looks good.
For now.