> It lets everyone do so
Citation for your claim that everyone has access to cheap credit. Are you aware of payday loans? [0]
> and as a fraction of net worth, the poor are way disproportionately exposed, and hence benefit.
Citation needed for your claim that the poor can access these low interest rates.
> A billionaire with $1B in net worth isn't leveraged to 10B in real estate.
Citation needed. Why do you think a person with $11B in assets wouldn’t borrow $10B?
> Someone worth $10K may easily have $100K in mortgage debt, however.
Citation needed. Do you mean someone worth $110k has a $100k mortgage? Or do you mean someone worth -$90k has $10k in assets and liabilities totalling $100k?
> Why do you say people who have both debt and assets benefit more than those who have just debts?
Because inflation causes assets to appreciate in nominal terms (assuming constant real value) and debt to depreciate in real terms.
> They strictly dont because those assets have to outperform inflation. Debts do not.
I’m not sure what you mean by “outperform inflation”
> That's irrelevant - that is to say, a separate problem
It means your theory about poor people benefitting from low interest rates is not true.
> because inflation affects everyone regardless of interest rate equally.
Citation needed.
> Interest rates are set based on likelihood of default.
You know this and yet you continue to assert that poor people benefit as much or more than the wealthy? I guess you think a person with a minimum wage job and no assets is just as likely to default as a billionaire?
> Yes, in aggregate, no the cost of houses hasn't increased on an inflation adjusted dollars per square foot basis since the 1970s
Right, when you adjust for the inflation, it hasn’t increased at all. Which is basically the point. The prices go up because of inflation, people who hold assets sell them for more money, people who earn paychecks get the same amount of dollars but can buy less for it, etc. None of this is controversial except when saying it around the proles who might take offense at the efforts of oligarchs to eat the bottoms out of their paychecks and savings.
> No, this is a fundamental misunderstanding. All businesses see their expenses and revenues rise with inflation.
But not at the same time or at the same rate. After all, if all prices relected inflation at the same time, there would be no point.
> If they choose not to adjust their salaries commensurately, they've made a conscious decision to reduce pay a fraction of income.
No, the bankers are the ones who made the conscious decision. Good rhetorical judo tho.
> [citation needed]
> You've stated a bunch of stuff as fact without sources.
Some of it is basically common knowledge, like poor people not having the collaterall, credit history, or social value required to access the same loans as billionaires. Some of it just seems like fundamental misunderstanding on your part, like your belief that all prices inflate at the same rate.
[0] https://www.cnbc.com/2021/02/16/map-shows-typical-payday-loa...