5 ms·
A lot of assets of rich people are protected against inflation. Real estate, stocks, art protect against inflation much better than the cash in the savings acco
by locust101 7y ago
A lot of assets of rich people are protected against inflation. Real estate, stocks, art protect against inflation much better than the cash in the savings account earning <1%.
- dnautics 7y agoWell also the existence of inflation creates the need for the middle class to participate in low buy-in/aggregatable liquid inflation-proof asset classes. This has largely been fulfilled with stocks and stock-backed mutual funds, which means that inflation drives the middle class to finance the risky business adventures of the wealthy.