Yeah, that’s the key. (A small amount of) Inflation is potentially a net good thing, but only if incomes keep up. As it is, incomes are effectively being reduced, because they aren’t increasing at the same rate as inflation. People are able to afford to spend less and less, while all the wealth is funneled to a select few.

Eventually this has to effectively freeze the economy, because people literally will not have money to spend. The economy only functions if most people are spending money. Having more billionaires (or trillionaires now) does not create much spending, and does not make a healthy economy.