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Patricia Aas (@Patricia) · 11/2022 · Tröts: 6.334 · Folger: 4.826
Sa 13.07.2024 19:23
129/ Ok, I had an epiphany.
And it’s about all the money that goes to the rich/banks. Where does it go? Because we don’t see it much in the real “normal” economy. (Or at least I thought so)
So what if, when we double or triple the money supply, but only/mostly give it to the rich/banks, we actually see inflation, but we didn’t recognize it as inflation?
What if the goods that got hit with inflation were “Capital” - that is real estate and stocks etc.
What if what we think of as capital gains is actually inflation on rich people stuff?
And maybe when rich people got a lot of money they spent it, but they spent it on rich people stuff?
Like apartment buildings.
And back to Harvey/Marx’ definition of “use value” vs “exchange value” - their money 💰 inflated the “exchange value” of real estate. Which is why nobody can afford a home anymore.
So basically the rich have their own economy, which shares its currency with us. But the stuff they can buy at the scale they are at are different things. We would perhaps get a nicer couch or more food if we got a lump sum in our scale (2000$ for example). They buy real estate and stocks at their scale (2.000.000$).
So you don’t see the inflation on groceries, but real estate values go up (or don’t go down).
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