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I keep thinking of real estate/stock/crypto appreciation as artificially contained inflation that will explode into the consumption economy at some point. It hasn’t happened so far because the wealthy haven’t found anything else worth bidding up prices on.
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In a weird way this is proof that trickle-down theory is false. If it were true, inflation contagion would be spreading with the trickle down. Cantillon effect but for trickle-down inflation 🤔
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Wages. If wages don’t rise then general inflation seems impossible. Many industries are under pressure to lower prices. Healthcare. Colleges. Commercial real estate. Tech. Apparel.
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