Nice to hear some candidness from real estate mogul Donald Trump
From CNBC.com
Echoing comments made by Dallas Fed President Richard Fisher that an open-ended quantitative easing, or QE3, would do little to help revive the economy, Trump said only stocks, real estate, and the investors who owned them would benefit from the move.
“Everything is artificial, there’s nothing that’s real,” the mogul said on CNBC’s “Squawk Box.”
Stock markets — which recently surged to multi-year peaks — are on the rise less because of fundamentals, and more because of the expected liquidity from the Fed that will filter into asset markets.
Trump warned that the Fed’s $40 billion a month mortgage-backed security buying program would lead to inflation. He also suggested wealthy asset owners would be the biggest beneficiaries of a potential surge in prices.
“I should be very happy about [inflation] in theory … but I’m not happy because ultimately it will come home to roost, and it’s going to be very, very unfortunate in the form of [higher] interest rates and some very severe things happening later on with the economy,” said Trump…
“Inflation is a great friend at a certain level of real estate. I’ve loved inflation, but I don’t like it for the country. But as an individual, inflation has made me very rich,” he said.
This just goes to show how inflationism promotes the politically privileged class or inequality (in terms of social, wealth and political categories) at the expense of society
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