3 ms·

Bingo. Although I don't know about rich people wanting to park their money away from banks. It's more like we have a massive capital glut, there's so much cap

Bingo. Although I don't know about rich people wanting to park their money away from banks. It's more like we have a massive capital glut, there's so much capital sloshing around we don't know what do with it. So some wealthy people will buy bonds with negative yields, others will buy equity at inflated valuations like WeWork. Strange times.

roymurdock 7y ago
Large and continued slowdown in global productivity combined with huge amounts of liquidity/easing from the world's largest central banks. Pretty good time to have a lot of money (it's always a good time to have a lot of money), to own a business in a developing economy, to start a "tech" company to be acquired in a developed economy, to be in private equity, or to fraud/bluff your way into a lot of money in a developed economy (true productivity-increasing products/technologies are currently few and far between but globalization of technology and outsourcing is still going strong). Not a great time to be poor, a saver, a licensed professional, or worker of any sort in a developed economy (aside from working at a "tech" company).