kboos1@lemmy.world to

No Stupid Questions@lemmy.world · 2 days ago

Is it possible that the rich are so rich that they have created inflation?

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Is it possible that the rich are so rich that they have created inflation?

kboos1@lemmy.world to

No Stupid Questions@lemmy.world · 2 days ago

Could there be so many rich people hoarding so much money that just by their value they actually have weaked currency and created inflation?

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HobbitFoot @thelemmy.club
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19 hours ago
Kind of.

Due to historic low taxes for the wealthy, they have been able to use their capital to build on more capital, pushing up the value of assets.

Rich people hoarding wealth is part of the reason why housing prices are so insane, but it isn’t the reason why groceries cost more.

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