Many if not most Americans have investments, so the effect is not exactly balanced. Households that could do so would adjust their portfolios taking into accoun

Many if not most Americans have investments, so the effect is not exactly balanced. Households that could do so would adjust their portfolios taking into account the additional guaranteed cash flow. Investment also reacts positively to the expectation of inflation, though that's getting more speculative. I think I've reached the limit of what I can do with Econ 101, but I hope to have shown that there's at least a principled claim to UBI being inflationary. Rising consumer price levels alone is inflationary under some definitions, and the effect on investment is not straightforward.