Mark Blyth

And then they make super profits. And that's why eggs cost much more than they did. That's why beef cost much more than they did. It's all these concentrated markets. And then they don't push it back down. That's why things don't go back down. So whether that's right or wrong, that's story number three.

Yeah, greedflation. I actually prefer seller's inflation. That's actually the better term for it because it's the people who sell stuff on, right? And then the final one is the one that basically Paul Krugman was banging on about on other people. It's just basically, this is just a big supply shock. COVID was just a supply shock.

Yeah, greedflation. I actually prefer seller's inflation. That's actually the better term for it because it's the people who sell stuff on, right? And then the final one is the one that basically Paul Krugman was banging on about on other people. It's just basically, this is just a big supply shock. COVID was just a supply shock.

Yeah, greedflation. I actually prefer seller's inflation. That's actually the better term for it because it's the people who sell stuff on, right? And then the final one is the one that basically Paul Krugman was banging on about on other people. It's just basically, this is just a big supply shock. COVID was just a supply shock.

All it meant was we couldn't get crap because it was all made in China. That's a supply shock, right?

All it meant was we couldn't get crap because it was all made in China. That's a supply shock, right?

All it meant was we couldn't get crap because it was all made in China. That's a supply shock, right?

So add all this together, you've got four very different stories. They're not mutually incompatible, but people tend to believe one rather than the other. Right. And you've got good political motivations behind that, right?

So add all this together, you've got four very different stories. They're not mutually incompatible, but people tend to believe one rather than the other. Right. And you've got good political motivations behind that, right?

So add all this together, you've got four very different stories. They're not mutually incompatible, but people tend to believe one rather than the other. Right. And you've got good political motivations behind that, right?

If you're a good, full-fashioned, low-tax Republican, and you think the government spends money on a load of crap and people who don't deserve it, you're probably going to believe the Biden stimulus is behind it. Right. Right? So there are motivated reasons behind this. So these are the four stories that you get.

If you're a good, full-fashioned, low-tax Republican, and you think the government spends money on a load of crap and people who don't deserve it, you're probably going to believe the Biden stimulus is behind it. Right. Right? So there are motivated reasons behind this. So these are the four stories that you get.

If you're a good, full-fashioned, low-tax Republican, and you think the government spends money on a load of crap and people who don't deserve it, you're probably going to believe the Biden stimulus is behind it. Right. Right? So there are motivated reasons behind this. So these are the four stories that you get.

The biggest remaining thing that we've got right now in inflation is rent. So it's rent. It's the cost of rent. The rent is too damn high everywhere across America, across Europe, across every major city. Why is this? It's because we stopped building houses for normal people 30 years ago. There's just a supply shortage.

The biggest remaining thing that we've got right now in inflation is rent. So it's rent. It's the cost of rent. The rent is too damn high everywhere across America, across Europe, across every major city. Why is this? It's because we stopped building houses for normal people 30 years ago. There's just a supply shortage.

The biggest remaining thing that we've got right now in inflation is rent. So it's rent. It's the cost of rent. The rent is too damn high everywhere across America, across Europe, across every major city. Why is this? It's because we stopped building houses for normal people 30 years ago. There's just a supply shortage.

So if you're making the interest rate on mortgages more expensive, less building and construction is going to go on. A certain number of apartments and buildings just die every year. They're usually replaced. If it's too expensive to do the replacement cost, guess what? You've got a shortage of rentals. So what are you going to get? You're going to get a supply constraint.

So if you're making the interest rate on mortgages more expensive, less building and construction is going to go on. A certain number of apartments and buildings just die every year. They're usually replaced. If it's too expensive to do the replacement cost, guess what? You've got a shortage of rentals. So what are you going to get? You're going to get a supply constraint.

So if you're making the interest rate on mortgages more expensive, less building and construction is going to go on. A certain number of apartments and buildings just die every year. They're usually replaced. If it's too expensive to do the replacement cost, guess what? You've got a shortage of rentals. So what are you going to get? You're going to get a supply constraint.

You ain't got enough places to rent out. So if the Fed raises interest rates to cool the economy, what is it doing to the housing market? It's making sure that you're spending almost a third to a half year income on rent. You know, if your rent goes up by 30%, hell yeah, that's going to hurt, right? Right.