Just to make sure I’m understanding, is the suggestion that people who lived through that high inflation period became more inclined to spend and less inclined to save, culturally, to this day? Do you have any links discussing this further?
If you have the money to buy, e.g., an Xbox, saving it will not neccesarily return you the same amount of money to buy an Xbox in the future, because inflation raised the console's price more than the extra money you got in return of your investments.
If you buy the console right away, you can be sure that your asset is "One Xbox" in value, no matter the amount of inflation.
the assertion, as I understand it, is that if you lived through a period of inflation your generation will be spending more, and not saving as much, for _the rest of life_, meaning even in low inflation periods like the 2010s
Interesting. I’ve lived in the opposite (my entire adult life has been in the low inflation period following the 2008 recession) so I can’t personally relate
