Comment on Is it possible that the rich are so rich that they have created inflation?
9point6@lemmy.world 1 week ago
Yes 100%
Wealth generates income, that income can’t sit as cash or it will lose value, so they need to invest.
When the ultra wealthy invest, it’s less important to get the best price for an asset than simply getting it. That money needs to be spent. So if there’s competition for an asset, they will spend more to get it.
When that happens, the price of the asset goes up.
Those assets ultimately determine the baseline cost of everything else. Can’t grow food if you’ve not got a farm. Farms being more expensive make food more expensive.
This isn’t malicious, this is just how it has to be when you have ultra wealthy people. They must invest, they must take property away from everyone else.
The ultra rich are actively pricing us out of living.
The ultra rich need to go
yyyesss@lemmy.world 6 days ago
I agree with everything except the “not malicious” part. eventually you have enough and should stop.
9point6@lemmy.world 6 days ago
TBF I more meant they weren’t actively trying to be malicious in many cases
You’re entirely right that they are malicious though
howrar@lemmy.ca 5 days ago
Not malicious in the sense that the intent isn’t to cause harm to us regular people. If buying those properties raised our prices and didn’t help them keep their money, they wouldn’t do it. If it didn’t raise our prices and helped them keep their money, they would still do it.