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> Won't work because all truly wealthy people can secure their wealth against inflation, while poor people cannot. I don't agree with this. The "truly wealthy"
by namdnay 5y ago
> Won't work because all truly wealthy people can secure their wealth against inflation, while poor people cannot.
I don't agree with this. The "truly wealthy" don't have any magic recipes that are better long-term than just MSCI World ETF or similar
> As a simple example, consider owning a house vs. renting. If you own the house, the actual number doesn't matter. If you're renting, the ratio between rent and salary is highly critical for your lifestyle.
If there is inflation you don't feel it as a renter either, because your salary and the rent both increase in lockstep (and in many countries, rent increases once in contract are tied to inflation)
- TimPC 5y agoWhat makes you think salaries will suddenly increase in lockstep when they’ve been increasing slower than inflation since about 1970?
- namdnay 5y ago> they’ve been increasing slower than inflation since about 1970 where? definitely not in china or india. not in france, the UK or germany either