“Existing debt becomes cheaper to pay off when inflation hits.”
It does eventually, but wages tend to lag several years behind inflation.
True. My point being that those in power don't want inflation - it gives the "slaves" too much economic freedom over the long run.
The goal of the economic tyrants throughout history has been to let the peons build asset bubbles, then the bankers collapse those asset bubbles intentionally and steal the underlying assets.
Inflation doesn't allow them to do that.