UNLOCKED Betting Against the Future: the economics of inequality w/ Gary Stevenson
Macrodose
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The Importance of Asset Price Inflation
I think we are going to see a massive exp... I think house prices will double in the next six of years. But that will be asset price inflation. That won't be ordinary goods inflation. Who do they buy assets from? From one another. Sure. That's the asset price is going up because of the money. Even if rich people buy assets, the money doesn't disappear. For example, my parents would probably have kept their house till they died and given that to my sister. They will probably have to sell that house to fund their retirement. Ultimately, they are selling their assets to the rich and they're spending the money. This is what happens when the rich buy assets
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