Our NEW Secretary of the Treasury, Billionaire Scott Bessent says inflation doesn't really exist

 

Quoted from the Wall Street Journal 12/27:

"Treasury secretary-designate, said last month that tariffs wouldn’t allow businesses to raise prices in a sustained fashion.

“Tariffs can’t be inflationary because if the price of one thing goes up, unless you give people more money, then they have less money to spend on the other thing, so there is no inflation,” he said on a radio program hosted by Larry Kudlow, a former Trump adviser."

By that logic inflation just doesn't actually exist because when prices go up middle class people go broke so prices must come down.

In a way that's true in the very long run.  Massive inflation eventually leads to crushing debt deflation.

Along the way however, everyone not in the Billionaire class goes broke.  Meanwhile billionaires get richer and richer.

How?

Because inflation is the condition that allows the hard asset owning class - the Billionaire class - to have the value of their assets inflate along with everything else.  Meanwhile if milk and eggs and rent and education and health care and insurance inflate too what do they care?  It's a drop in the bucket compared to the fact that they own all the real estate and the farm land and the health care establishments and the insurance companies that are reaping the benefits.  The cost of daily life products are meaningless to them.

So when a country is ruled in every facet by the billionaire class expect inflation to be the unstated policy of the ruling class.  And expect them to try to convince you that inflation isn't really a problem.  Or doesn't really exist.

And invest accordingly.