They’re billionaires because of monetary policy, Elon Musk and Tesla wouldnt be worth so much if inflation didnt reward risky assets and provide an unlimited runway to profitability. We bid up asset prices until prices rise 2% a year; prices that exclude assets like housing, subjective hedonic downward adjustments of goods prices, and substitutions/shrinkflation.
Blame the rich if you want, I blame the unelected central bank thats debasing your paycheck with 7% annual money supply growth, QE, and bailouts. If the money supply didnt grow every year you wouldnt need to beg your boss for a cost of living adjustment that doesnt match reality. Our parents ate free range grass fed meat, we eat corn fed factory farm troglodytes, and our children will eat highly processed imitation meat slop, and the CPI will mark no difference between the three.
They’re billionaires because of monetary policy, Elon Musk and Tesla wouldnt be worth so much if inflation didnt reward risky assets and provide an unlimited runway to profitability. We bid up asset prices until prices rise 2% a year; prices that exclude assets like housing, subjective hedonic downward adjustments of goods prices, and substitutions/shrinkflation.
Blame the rich if you want, I blame the unelected central bank thats debasing your paycheck with 7% annual money supply growth, QE, and bailouts. If the money supply didnt grow every year you wouldnt need to beg your boss for a cost of living adjustment that doesnt match reality. Our parents ate free range grass fed meat, we eat corn fed factory farm troglodytes, and our children will eat highly processed imitation meat slop, and the CPI will mark no difference between the three.
Tesla would be worth basically nothing if the federal government weren’t artificially propping them up by banning Chinese EVs.
Shit company, bullshit valuation, shit products
“worth” is an interesting choice of word there…
I blame Nixon.
Well there was a great society program in the 60’s that ran up debt, by do-gooders who didnt properly fund their ambitions.
Society needs to learn that we need to actually tax the rich and run low deficits if we want to spend big on social programs.