It surely is profitable for these who can afford to build up a lot of leverage in the low-inflation times. This is primarily possible for those with high cash flow, this again restricts dominantly to very wealthy or high earners and the majority suffers in consequence, again.

Conclusively, a financial system that builds even on moderate inflation is bad for a society.

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The common argument for inflation is that it reduces the burden of debt over time and completely ignores that it increases the burden of literally everything else. So you might have an easier time paying off debt? But your cost to rent, travel food goes up. 

Part of me thinks they want to create another depression so they can act like deflation is bad and do another round of suspect changes to the financial systems.