Retirees are no longer working and thus they are no longer receiving income except through some retirement fund that may or may not be enough. Inflation is one of those fogs of war that makes it very difficult to predict the future. Whatever your retirement plan is, it may or may not be enough to keep up with inflation. Running race tracks is for the youth, not for the old.
For businesses and working people. They have usually accrued a certain level of debt that requires repayment. And if there is deflation, then the value of the debt exceeds the value of their business and the revenue they collect. They have no choice but to default if the value of the debt exceeds whatever income they receive.
Personally, inflation is good. But then, I am not a retiree. If anything, I would open my arms for hyperinflation. Although not exactly just yet.
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