So, rich people cause inflation when they spend their money?
Is that what the article says?
Not, the government printing more money?
I call bullshit on this.
Shawn Tully-Agenda Contributor-The World Economic Forum
So that explains all of the recent college graduates with a low earning potential degree, off-the-charts entitlement and no sense of economy who’ve already amassed $750K in debt from school loans, vehicles and credit card debt that are trying to buy homes at 30% above market value? Who knew?
The value of any given market is driven by what the least astute participant is willing to pay. Right now, least astute is leading the charge....not the rich.
Central bankers love you and care about you.
The Federal Reserve prints money and they aren’t government.
Today I check the price of tomato soup. Just your regular can. On sale it is a dollar a can.
A year ago it was $0.75 a can on sale.
Because all the rich people have decided to eat a lot of tomato soup?
Good call. “The rich” do not drive inflation but printing money does everytime.
Both actually. It’s just printing + favors started it then the equity / housing boom started, then the top 20% felt comfortable and started spending. It will pull back eventually and when it does it will be like hitting a wall. BAM
You are absolutely right. The article is total BS.
They stated that it was an added effect. It’s like a form of QE but from private hands is how it sounded to me. They’re taking advantage of the Fed’s piss-poor policies.
Me too - sounds like a Biden WOKE 1% commie-lite crap.