But what is true is that wealth is always harmed by inflation. That is the only reason it is an economic priority when seriously disruptive inflation is a virtually unknown economic problem.
Well, two interesting ideas.
The first that wealth – which is rarely in cash, usually and near entirely in assets – is hit by inflation. The assets rise in value, assets are a very good inflation hedge.
The other is that seriously disruptive inflation is a virtually unknown economic problem. Well, outside the places that follow Spud’s economic precepts – so not Venezuela or Zimbabwe – perhaps….
What astonishes is that he manages to get two such entirely contrary to reality statements into only two sentences.