I have previously said interest rates only rising in the face of wage inflation and ignoring decades of asset inflation was a attack by the investor class who feel they shouldn't have to share the rewards with workers.
This guy confirms that thinking is likely prevalent.
Workers need to be reminded who they work for? They need to be reminded that the Hamptons isn't a defensible position.
Asset multiples will collapse if unemployment rises significantly and the labor market weakens. Surely the investor class will still come out ahead, but it's interesting they seem to be ignoring this fact (except Warren Buffett, who's cash reserve to equity ratio is far greater than most of his peers)
It’s fear. They fear losing wealth, which if why they must always have more of and do anything to keep, even at the detriment of others— sometimes even their own family.
I don't think that's it, it's more that line has stopped going up and they need someone to blame that isn't the gross misallocation of their own resources. Investing has been incredibly short sighted for the last 40 years, and they're reaping what's been sewn now.
This guy confirms that thinking is likely prevalent.
Workers need to be reminded who they work for? They need to be reminded that the Hamptons isn't a defensible position.