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Prices will rise. It won’t increase purchasing power.
At least it will be in the hands of the people instead of the crony capitalists, see "cantillion effect"
That’s not it. Yang will fund it through a new value added tax (which will be hard to get rid of once installed). So no money supply change. But if landlords know each tenant has an extra $1K, rents rise. Same restaurants, uber, every product until people stop coming.
Until a competing landlord, restaurant, taxi service etc. realizes they can cut prices to win market share and a new equilibrium price is reached based on supply and demand. What I'm saying is that it can't work like so way without collusion amongst suppliers.
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