I do not understand. Sorry.

He's talking about how the government systematically Rob's from the future through inflation - in particular hurting the poor the hardest and creating lost decades and millennials along the way.

> He's talking about how the government systematically Rob's from the future through inflation

... What? Wait... what? I'm actually more confused by your response. So, the idea is governments create inflation to... rob the poor?

Also, who's Rob?

> in particular hurting the poor the hardest and creating lost decades and millennials along the way

Are you implying that millennials have... the government to blame for their current grim prospects in the job market? Because of inflation?

No, governments create inflation to satisfy an illusion of control and stability over the economy, and a side effect is robbing the poor (and giving to the rich).

Think about it:. If you're poor and spending 90% of income on survival, an increase in the cost of living has a more dramatic effect on the margin of survival than the identical increase in cost of living for someone who depends on 20% of their income.

Moreover, it's frequently said that inflation is necessary to combat 'sticky wages'... If you read between the lines, that's effectively 'cheating the poor of their wages'.

The common retort is that the inflation is good for the poor because it reduces the real value of their debt. But in the real world outside the ivory tower of economists who never were actually poor, the poor are offered high interest loans, which are only barely ameliorated by inflation. People who benefit from low interest rates are corporate C-levels, banks, and leveraged an margin investment (which is most of the "1%"

I don't get how inflation does these things. I've never heard of it robbing the poor or doing anything specific to millennials