Scott Galloway

It's not.

I think that's an important point, but it has a very big if in the statement, which is if this remains at above 4% for the next several years.

What I can tell you is most people do not think that that will happen.

Most people on Wall Street do not think that would happen.

If that did happen, it would be basically a gigantic disaster for the entire US economy, especially if we see that the wage growth continues to be lower than the price growth.

So I take your point, but there are a lot of big ifs there.

And so I guess my question that I would follow up with you is, do you believe that this is going to last?

You said years.

I don't.

But if Trump had his way, we risk inflation go to 8 to 12 percent because he would vote to cut interest rate for a short term bump in his popularity, which could create inflation.

a panic buying and an upward spiral of inflation.

I mean, it's not unthinkable to think inflation could go to eight or 10%.

Fuck, it's not, I mean, inflation starts, the fear, the real panic is that people start thinking, I gotta get rid of my cash because asset prices are going up so fast.

So whenever people get cash in Argentina, they don't haul onto it.

They either transition it to Bitcoin or they buy something.

And to think that that can't happen here is to ignore what's happened with every fiat currency in history, that eventually the political pressure to print more money and not be fiscally responsible outweighs any.

see about fiscal responsibility and end up with too much money chasing too few products.

So will it likely happen?

No.

Could it?