ASSET PRICES lead the economy as I have been saying for 10-15 YEARS!

For example,

10 spend $50 or $5 each

60 spend $20 or $0.33 each

RELATIVE SPENDING of top 10% to bottom 60%

=5/0.333=15 times !!!

In 20 years, it will be 70% of spending and bottom 60% will be 12% or 35X.

AND PEOPLE CALL ME AN IDIOT WHEN I SAY FDR IS COMING!

I say in 20 years he’s coming (when money velocity hits zero). What does it mean?:

top tax rate 90%, capital gains rate 75%, banning of gold ownership, etc…

maybe even wealth tax like Europe…