they have an unprecedented ability to cause inflation themselves simply by deciding to spend more of it They spend it in the stock market, that's where the inf

they have an unprecedented ability to cause inflation themselves simply by deciding to spend more of it They spend it in the stock market, that's where the inflation is. I remember a time when a P/E ratio of 12 was a signal that the company was highly valued, and a P/E ration of 15 was a signal of a bubble. Nowadays that number for Tesla is ~ 100! That's insane.