> If the poor don't have cash, and their wages keep pace with inflation
Their wages don't keep pace with the inflation of assets, so they are continually unable to save or invest their way out of poverty.
> (they do)
Consumer goods and assets don't appreciate at the same rate.
> then how are they harmed by inflation?
for the umpteenth time, they are paid in depreciating units while the real value of assets appreciates in nominal units; creating a problem where in order to save they must invest, and they continually have less real income to invest, because the paychecks are getting smaller (in real terms) and the assets are getting pricier (in nominal terms).
> Their wages don't keep pace with the inflation of assets, so they are continually unable to save or invest their way out of poverty.
Yes they do. [1] Inflation of assets is ROI because its measured in terms of increased welfare relative to CPI. If CPI doesn't go up that's ROI. If CPI goes up its inflation. It doesn't matter when they enter an asset class, what matters is what happens after they enter an asset class.
Their wages don't keep pace with the inflation of assets, so they are continually unable to save or invest their way out of poverty.
> (they do)
Consumer goods and assets don't appreciate at the same rate.
> then how are they harmed by inflation?
for the umpteenth time, they are paid in depreciating units while the real value of assets appreciates in nominal units; creating a problem where in order to save they must invest, and they continually have less real income to invest, because the paychecks are getting smaller (in real terms) and the assets are getting pricier (in nominal terms).