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What happens inflation wise if there are suddenly a few million new millionaires?
Posted on 1/30/21 at 1:14 pm
Posted on 1/30/21 at 1:14 pm
I understand that the “to the moon!” sentiments are mostly shite posting and overexcited folks buying GME.
But there’s been talk of GME going as high as $10k, which would make anyone who got in with 100 shares at $30 a lot of money.
Hypothetically - not focused on GME - say all of this went down and a few trillion of Wall St’s funds were distributed across a few million joes. Does that impact the economy positively or negatively? Does it raise inflation?
Obviously when the government prints and distributes money, it raises inflation. But technically Wall Street money is already part of the economy, right?
But there’s been talk of GME going as high as $10k, which would make anyone who got in with 100 shares at $30 a lot of money.
Hypothetically - not focused on GME - say all of this went down and a few trillion of Wall St’s funds were distributed across a few million joes. Does that impact the economy positively or negatively? Does it raise inflation?
Obviously when the government prints and distributes money, it raises inflation. But technically Wall Street money is already part of the economy, right?
11
Posted on 1/30/21 at 1:23 pm to StringedInstruments
quote:yeaaaaah, someone will intervene before gme is a $700 bil company
But there’s been talk of GME going as high as $10k, which would make anyone who got in with 100 shares at $30 a lot of money.
Posted on 1/30/21 at 1:25 pm to StringedInstruments
While it's a lot of money in this thing, I'm pretty sure it's a fraction of a fraction of the overall economy and shouldn't have any impact on inflation.
Posted on 1/30/21 at 1:26 pm to StringedInstruments
The stock market doesn’t create money..
Posted on 1/30/21 at 2:24 pm to StringedInstruments
Your premise is way off. The same money is circulating
Posted on 1/30/21 at 2:33 pm to StringedInstruments
Distribution of wealth probably good for economy
Not a communist
Not a communist
Posted on 1/30/21 at 2:38 pm to StringedInstruments
There are about to be a bunch of former millionaires on the other end to make up for it. Hide the money y’all, there’s poor people around
Posted on 1/30/21 at 3:05 pm to StringedInstruments
quote:
But there’s been talk of GME going as high as $10k, which would make anyone who got in with 100 shares at $30 a lot of money.
You have to sell the shares first which means there has to be a willing buyer at that price. Who in there right mind will buy a share of gamestop at 10k.
At some point, fundamentals will come back into play.
Posted on 1/30/21 at 3:06 pm to gpburdell
quote:hello hedge fund
willing buyer
Posted on 1/30/21 at 3:14 pm to gpburdell
quote:
Who in there right mind will buy a share of gamestop at 10k.
Someone obligated to
Posted on 1/30/21 at 4:44 pm to StringedInstruments
quote:
I understand that the “to the moon!” sentiments are mostly shite posting and overexcited folks buying GME
Do you though? I’m waiting for hailstate15 to come in here and take a bite of your arse, but he is currently riding a rocket ship well past the moon and halfway to Mars.
Posted on 1/30/21 at 4:56 pm to StringedInstruments
If the amount of money in the system isn’t changing, there should only be limited effects by new millionaires.
What luxury products will see a run on them now that there are more millionaires than before? Would they have seen a dollar boost if the billionaires kept that money?
Chicken tendies won’t go to $100/lb because the Reddit crew became millionaires.
What luxury products will see a run on them now that there are more millionaires than before? Would they have seen a dollar boost if the billionaires kept that money?
Chicken tendies won’t go to $100/lb because the Reddit crew became millionaires.
Posted on 1/30/21 at 5:47 pm to teke184
quote:
Chicken tendies won’t go to $100/lb because the Reddit crew became millionaires.
Chicafila, zaxby, and canes stick about to blow up
Posted on 1/30/21 at 7:02 pm to teke184
quote:
What luxury products will see a run on them now that there are more millionaires than before?
Rolex's
Posted on 1/30/21 at 7:23 pm to Sgt_Lincoln_Osiris
I’m sure there will be some available.
Had a talk with an investor who was loving this whole situation and he talked about the Hunt Brothers’ attempt to corner the silver market.
He capped it off by talking about how the two went bankrupt and lost everything, complete with people ending up with their Rolex watches.
Had a talk with an investor who was loving this whole situation and he talked about the Hunt Brothers’ attempt to corner the silver market.
He capped it off by talking about how the two went bankrupt and lost everything, complete with people ending up with their Rolex watches.
Posted on 1/30/21 at 7:38 pm to teke184
quote:
If the amount of money in the system isn’t changing, there should only be limited effects by new millionaires.
So then can it be said that distributing the money from the ultra rich to more “average” citizens would be a net positive for the country?
It doesn’t impact inflation or the economy in any negative way, but it allows for more people to invest in themselves, their communities, etc.
This post was edited on 1/30/21 at 7:39 pm
Posted on 1/30/21 at 7:40 pm to StringedInstruments
quote:
So then can it be said that distributing the money from the ultra rich to more “average” citizens would be a net positive for the country?
It doesn’t impact inflation or the economy in any negative way, but it allows for more people to invest in themselves, their communities, etc.
Yes. Also will create a small gain to the treasury. Presumably most people will be paying ordinary income on these gains.
Posted on 1/30/21 at 7:53 pm to StringedInstruments
Net positive is a question.
A lot of it depends on what that money would be doing if it weren’t in the hands of the Tendies crew.
If it were part of investing in a company that employs millions? A better use of the money than a bunch of new millionaires.
If that money was going to be used on diamond-studded dildos to be used as party favors at Steve Cohen’s annul orgy? Less so.
Spending is good stimulus in the micro but putting your money to work in investment is a much better thing for everyone in the long term.
A lot of it depends on what that money would be doing if it weren’t in the hands of the Tendies crew.
If it were part of investing in a company that employs millions? A better use of the money than a bunch of new millionaires.
If that money was going to be used on diamond-studded dildos to be used as party favors at Steve Cohen’s annul orgy? Less so.
Spending is good stimulus in the micro but putting your money to work in investment is a much better thing for everyone in the long term.
Posted on 1/31/21 at 8:16 am to StringedInstruments
I’m guessing the millionaire kids will be putting the money back into the economy. They talk about Lamborghinis a lot. 
Posted on 1/31/21 at 10:15 am to teke184
quote:
If that money was going to be used on diamond-studded dildos to be used as party favors at Steve Cohen’s annul orgy? Less so.
Maybe not... This would be great for dildo manufacturing and their employees.
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