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Message Subject "Fiscal Cliff" - Increasingly Likely & Desirable?
Poster Handle Desert Fox
Post Content
The rich people who are successful in financial markets consume a lot of goods and services, many of them domestically. If they move out of country, you may say good riddance but do you mean it?
 Quoting: Anonymous Coward 28008747

Link? Stats? Data? I seriously doubt that statement. This group of people is so small in comparison to the general population their accumulated spending would amount to nothing in terms of the overall GDP of the country. Why do you think the 3rd world nations are beginning to riot? They spend like 50% of their incomes on items necessary to survive, food, energy, shelter etc. Our money printing causes those prices to increase, so they end up spending more as a percentage for what they need.

In comparison, wealth people spend far far less as a percentage of what they have/earn on survival items so inflation doesn't affect them as much, but they need the inflation to maintain their accumulated wealth in the paper assets they hold as "valuable".
 Quoting: Anonymous Coward 961432

Oh ye of little knowledge.
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