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And current measures of inflation have a very partial and selective view of that. Specifically they consider inflation a loss of buying power for one class, who experience inflation as a corrosive destroyer of asset values

I'm not sure what you mean by that.  Inflation plays havoc with debt instruments, but it has little impact on other classes of wealth such as property or shares.  For those in the middle class, their homes do fine, their savings get hammered. The poor have no assets to worry about, but they do see their already low incomes decline with high inflation.  My one experience with it, back in Poland in the early nineties, was merely annoying, but that's because when my wages went from quite adequate to 'oh fuck' I was able to both beg my parents for an infusion and to switch to a de facto inflation indexed form of freelance work.  

by MarekNYC on Fri Nov 19th, 2010 at 11:35:26 PM EST
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