It has long been a rule of thumb to have $1 million saved for a comfortable retirement; but, thanks to inflation, the youngest generation of workers likely will need three times as much. According to...
We really are going in circles here. However, one thing I will point out is that billionaires didn’t lack liquid assets to buy up things like housing before money printing started. What facilitated that was the fact that lots of people ended up becoming insolvent during the pandemic. Businesses went under, people weren’t able to afford their mortgages, and so on. This forced people to put their assets up on the market at which point the billionaires started buying them up.
For money printing to affect general spending, the money has to go to regular people. There was a brief period during the start of the pandemic when that happened, and that did end up heating up the economy briefly. That’s when a lot of the inflation happened because businesses realized they could now jack up prices since people had cash to spend.
We really are going in circles here. However, one thing I will point out is that billionaires didn’t lack liquid assets to buy up things like housing before money printing started. What facilitated that was the fact that lots of people ended up becoming insolvent during the pandemic. Businesses went under, people weren’t able to afford their mortgages, and so on. This forced people to put their assets up on the market at which point the billionaires started buying them up.
For money printing to affect general spending, the money has to go to regular people. There was a brief period during the start of the pandemic when that happened, and that did end up heating up the economy briefly. That’s when a lot of the inflation happened because businesses realized they could now jack up prices since people had cash to spend.