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Oh no, the rich are leaving. Hope they manage to fit their assets into cabin baggage. High paid workers, due to their skills are way more mobile than asset own
by budududuroiu 2y ago
Oh no, the rich are leaving. Hope they manage to fit their assets into cabin baggage.
High paid workers, due to their skills are way more mobile than asset owners. I can be a software engineer in the Bay or Canary Wharf, but if I am a real estate tycoon, it’s not like I can take British homes with me to the US.
- bufferoverflow 2y agoRich people can always sell assets and then buy similar ones elsewhere. And them being rich, they don't have to do any of the paperwork themselves.
- budududuroiu 2y agoThat’s… unironically a good thing. Most economies are currently being burned by asset price inflation
- bufferoverflow 2y agoThat's not a good thing. Most retirement accounts are tied to the market. If you crash it on purpose, you create millions of old broke people.
- s1artibartfast 2y agoOnly the tiniest sliver of the hyperwealthy's assets are physical. The vast majority is equity, which is relatively easy to move.