Nothing that person said made sense. Inflation isn’t good for wealthy people, it’s good for debtors.
Wealthy people hate inflation because they have lots of money and it makes their money worth less. That’s the simple explanation. In reality, they have their money mostly in bonds and stocks. But bonds are paid off in inflated currency which is worth less. So they are affected negatively by inflation.
Basically if you are a net debtor (student loans, home loans, etc.) inflation helps you as long as your income rises too. If you are a net lender (retired, wealthy, own your home with no mortgage) inflation does not help / may hurt you.
It looks like fancy dining, because that’s how they do fast food. Take a look at a Mr. Donut. I’m not sure if any even exist in the US anymore, but compared to your local Dunkin Donuts, a Mr. Donut in Japan looks like fine dining. They serve you the donuts and tea/coffee on fine china. The place is immaculately clean. That’s just fast food in Japan. There are some extremely expensive fine dining sushi restaurants, but those aren’t the norm. Sushi is generally fast food across the lake.
No one can eat sushi daily, that’s a myth, sushi is their version of fancy dining.
Nothing that person said made sense. Inflation isn’t good for wealthy people, it’s good for debtors.
Wealthy people hate inflation because they have lots of money and it makes their money worth less. That’s the simple explanation. In reality, they have their money mostly in bonds and stocks. But bonds are paid off in inflated currency which is worth less. So they are affected negatively by inflation.
Basically if you are a net debtor (student loans, home loans, etc.) inflation helps you as long as your income rises too. If you are a net lender (retired, wealthy, own your home with no mortgage) inflation does not help / may hurt you.
It looks like fancy dining, because that’s how they do fast food. Take a look at a Mr. Donut. I’m not sure if any even exist in the US anymore, but compared to your local Dunkin Donuts, a Mr. Donut in Japan looks like fine dining. They serve you the donuts and tea/coffee on fine china. The place is immaculately clean. That’s just fast food in Japan. There are some extremely expensive fine dining sushi restaurants, but those aren’t the norm. Sushi is generally fast food across the lake.