Re:BadEconomics: Putting $400M of Bitcoin on your company ba...
by arcticbull on Monday January 04, 2021 @02:05PM
(#25636282)
Ok, hold on now.
Asset price inflation is such a weird metric to rail on because that's the whole point of investing. Literally the point of assets is they go up in price over time. If you bought AAPL at $50 and it hits $300 is that "asset price inflation"? No! It's a good return on investment.
There's no personal need for affordable AAPL stock is there? Are you going to die if you can't afford AAPL? Of course not.
You know what's gone down though? Housing. Which, by the way, costs exactly the same amount now on an inflation adjusted dollars per square foot basis as it did in the 1970s across the whole of the United States according to the BLS. [1] Certain major metros are of course higher but that's simply because the city councils stopped permitting new construction to benefit existing landowners while demand increased due to the booming economy in and around these metros.
Inflation is literally defined as CPI and it factors in the necessities of life. AAPL stock is not a necessity. It doesn't matter how far up it goes if bread costs the same.
Wanna stop the inequality it leads to? Bring in a wealth tax.
Asset price inflation is such a weird metric to rail on because that's the whole point of investing. Literally the point of assets is they go up in price over time. If you bought AAPL at $50 and it hits $300 is that "asset price inflation"? No! It's a good return on investment.
There's no personal need for affordable AAPL stock is there? Are you going to die if you can't afford AAPL? Of course not.
You know what's gone down though? Housing. Which, by the way, costs exactly the same amount now on an inflation adjusted dollars per square foot basis as it did in the 1970s across the whole of the United States according to the BLS. [1] Certain major metros are of course higher but that's simply because the city councils stopped permitting new construction to benefit existing landowners while demand increased due to the booming economy in and around these metros.
Inflation is literally defined as CPI and it factors in the necessities of life. AAPL stock is not a necessity. It doesn't matter how far up it goes if bread costs the same.
Wanna stop the inequality it leads to? Bring in a wealth tax.
[1] https://fee.org/articles/new-homes-today-have-twice-the-squa...