She doesn't have time to get into it in the present post but the role of the central banks in inflating the net worth of the 200* richest people on the planet is really quite amazing.
*# 200 gets you down to about $6.5 billion, give or take.
From FT Alphaville:
Interest rate hikes are bad news for cultural rent seekers
A funny thing happened this decade.
The fairly logical-minded world of
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