Yup.
The underlying problem is government + central bank moneyprinting. Without fixing that first, wages can never keep up with cost of living.
Moneyprinting is like a time-bomb, obliterating all wealth until it migrates toward hard money.
Discussion
The federal debt is getting too big to deal with. This will leave only two options: either default and reprice the debt, or inflate away the value of the debt with massive monetary debasement.
They'll go with the second option. The first option is immediately devastating, while the second option is devastating in a slower, more insidious way, that the wealthy are better equipped to insulate themselves from.
The middle class have home ownership and maybe a stock portfolio. A home, even with a mortgage, is a good asset to own in an inflationary environment. The price of the home goes up while the real value of the debt owed does down.
The lower class just gets crushed. They own nothing. They see their rents go up with inflation. They see their credit card rates increase. And their wages don't keep up.
It’s a zero-sum game, and the poor don’t have enough money to fund this. It will crush the middle class too. Yes, their homes and stocks will go up, but not enough to pay for food, gas, etc. without selling them.
And if the middle class is crushed, then who is buying goods and services? It would get very ugly fast.
It's going to get really ugly for everyone who's not paying attention and taking steps to prepare.
You can interchange gold with Bitcoin in this passage and it still stands. But metal is a valid asset to protect from inflation too.
Us poor folk ought to keep a little silver coin handy along with our Bitcoin just in case the power goes out.
