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You're in Luck - Bidenflation Is Good for The Middle Class According to Yahoo

(AP Photo/Michael Probst, File)

Honestly, if you go to a place called "Yahoo!" for news, the misinformation is coming from inside the house. It's like choosing a hospital to go to because it has "De-Lux" in the name.

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So when Yahoo Finance is telling you that inflation is making your richer, ackshually, you need to take your fist sized grain of salt before you dive in.

Before we get to the good stuff, check out the first sign you're not dealing with serious journalism.

In a new working paper whose title asks, “Is There Really an Inflation Tax?” New York University economist Edward Nathan Wolff, an expert on inequality with nearly 40 years of research to his name, breaks down the effects of inflation on Americans’ overall wealth between 1983 and 2019.

Note the adoring tone for the "expert on inequality". So what's the big takeaway? 

His answer? The “inflation tax” does exist, but not for everybody. The middle class and the top 1% of Americans actually benefited from periods of high inflation in recent decades.

...

Inflation can cause asset prices, particularly in real estate, to rise substantially [emphasis added], while simultaneously lowering the real debt burdens of some consumers. This means that a lucky group of households that have a large amount of assets or debt relative to their incomes—say, recent homebuyers who are “house poor” or the ultrarich—have historically seen a sizable gain in household wealth thanks to inflation, Wolff explained.

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So if you are in two particular brackets and own real estate, you could make out well, possibily. 

That's it? No earth-shattering "kaboom"?

BS detectors went of quickly.

Are you not following Carol Roth? Go fix that now and come back. We'll wait.

Welcome back. Continuing ...

Kids, you may need to Google this. TL/DR: Yahoo! is the sole survivor of the class of 1998.

"Hey, we're affordable. Don't listen to the doomsayers," shouted the Ramen.

"LOL, shut up," replied the eggs.

Either Cramer or Krugman. With them you can never go right.

That's the subliminal message.

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OK, a little louder for the folks in the back.

"Experts say" = you are about to read a poorly-sourced, biased piece.

Let's end with this masterpiece of righteous fury that still remains post-able on Twitchy.

***

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