No, it is not because price inflation destroys the incentive to save and encourages many to recklessly go into debt.
No, it is not that accelerating price inflation hurts those living on fixed income.
Joe Weisenthal has a new theory on why older men worry about inflation. This theory could probably make him the successor to Ben Bernanke as Fed chairman. He writes:
The real reason is that worrying about inflation makes people like Chuck Grassley feel young again.
Grassley is 75 years old. The last time inflation was a real problem in the late '70s/early '80s, Grassley was in his early-to-mid 40s, a point in his life when he presumably had a lot more testosterone production, and was in much better shape.
BTW: This doesn't just go for Grassley; there's a huge crop of supply-siders who came of age under Reagan, who still go on TV all the time whining about inflation, all of whom were at their career/virility peaks during the Reagan/inflation years.
So for them, worrying about inflation is like buying a Lamborghini or marrying a young wife. It makes them feel good and young again.
The impulse is understandable. It's just scary that it influences policy.Yup, so the next time you go to the grocery store and prices are up, don't worry. It is just Bernanke trying to elevate the testosterone levels of older men, Joe Weisenthal says so. Needless to say this is mad, but I think he is serious, which makes me wonder if he is getting enough, relative to his current testosterone level.