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Isn't this due to inflation? A couple of percent decrease in the value of the dollar makes a huge number of new millionaires.
by barbegal 8y ago
Isn't this due to inflation? A couple of percent decrease in the value of the dollar makes a huge number of new millionaires.
- jganetsk 8y agoAsset price inflation, yes. Not consumer price inflation, which has been low to nonexistent for a very long time. So when the bubble bursts, their wealth will come surging right back down.
- cityhomesteader 8y agoNo. Inflation has been near 0 for most of the western world since 2008. The increase is a result of lax monetary policy ( central banks flooding the world with money ) and asset price ( stocks, housing ) increases. In other words, inflation hasn't increase 10.6% last year. If you want to check historical inflation data. https://tradingeconomics.com/united-states/inflation-cpi https://tradingeconomics.com/united-states/inflation-cpi
- jonknee 8y agoInflation has been low, but regardless that just means money is worth less, it doesn't make you a millionaire (unless you owned a Bay Area home!). In any event, the dollar has actually been quite strong.