Believe me, if there's an actual deflation, they'll all of a sudden stop being billionaires (companies not able to sell, revenues and stocks going down) and there won't be much to redistribute
The bigger problem is the current debt of the "everyone except the 1%".
With deflation, cash and savings become king, and debt becomes unmanageable, (setting off a lot of bankruptcies, which then cascade...).
And people have been encouraged to take on debt because debt makes sense during times of inflation, since debt today should be cheaper to pay off tomorrow, provided the numbers all around go up - In a way, inflation works as a sort of debt depreciation.
The problem is costs have gone up drastically faster than wages, so taking on debt is less a matter of expansion of the economy and growth, and more of a matter of day to day survival.....
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u/ActBest217 7h ago
Believe me, if there's an actual deflation, they'll all of a sudden stop being billionaires (companies not able to sell, revenues and stocks going down) and there won't be much to redistribute