Basically, my position was that the rise of inflation truly isn't that big of a deal, especially since it's only up less than 3% to where it was pre-pandemic. This was his response. He likes to use a lot of math because he think it'll get people to concede their argument since a lot of people find it intimidating.
I think he's technically right on this one. As he says, the difference between 2% and 5% inflation over the course of 3 years is pretty fuckin' big. If it stays up there, especially if stuff like gas prices are a major part of it, it's gonna squeeze a lot of people.
However it sounds like he just wants the W if he's inserting a caveat about it probably not being a big deal in this case.
The truth is that inflation as a concept can be a big deal, especially if it hits things people need to survive, like food and basic necessities. The biggest deal though is the way it affects the poorest and most marginalized, and the working class, not some imaginary arbitrary economic number like "inflation." The economic measure of inflation is incredibly stupid and out of touch with reality.
Whatever you do, don't let people pin inflation on "stimulus" money or unemployment or any other tiny breadcrumb of a benefit tossed to working people in the US.
Go full individualist, and say it will wipe out student debts and mortgages :rat-salute:
Your friend is right, this is a huge problem, especially if we don’t see a concomitant rise in wages (we won’t)