I posted these tweets yesterday. For some of the work I have been doing of late I have been thinking again about debt relationships. These tweets are a bit tangential to that work, but they fell out of it:
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Trickle up economics?
Yes
Richard, I just want to say thank you for all your work. The information you continue to share, plus the contributions from your regular followers is so enlightening and helpful to me.
Neil
Thanks
I try….
Richard, forgive me if I’m being obtuse, but how has aggregate household wealth managed to almost double over 12 years?
Where did the money come from? Earnings from exports? Foreign investment? Money issued by the government (e.g QE in 2008)?
(I’m betting on the last one…)
This is not money as such
This is money as a measure
P{ople are willing to pay more for investments and so the whole market is said to increase in value
What did more than anything to drive the market up? QE. It was deliberate