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Stocks/real estate are mostly owned by richer people (and 401ks). There was plenty of inflation in luxury goods. Watches, private jets, art. Prices went through
by gizmo 4y ago
Stocks/real estate are mostly owned by richer people (and 401ks). There was plenty of inflation in luxury goods. Watches, private jets, art. Prices went through the roof.
Covid boom put money into the hands of regular people, and that -- combined with a supply shock -- made all the difference.
- marcosdumay 4y agoYes, but it's not easy to understand how wealth can be so concentrated on the hands of the rich that it doesn't impact the "regular people economy". Rich people buy services, and service providers are regular people. Some of the money always has to disperse, so the impact can only be neutral if there is something with similar intensity concentrating it back.