Scott Galloway

Absolutely.

And what people also don't recognize is that inflation is yet another transfer of wealth from earners to owners.

Inflation has been out of control in Argentina since the end of World War II, but the same wealthy families are still wealthy because if you own land, if you own assets, I'm hedged against inflation.

because I own a bunch of real estate and I own a bunch of stocks.

And as inflation goes up, so does the price of rent.

So does the price of buying an iPhone.

So my Apple shares in my house goes up in value.

Who gets fucked is you and everyone else on this podcast whose wages do not keep pace with inflation.

So again, inflation is especially difficult on earners versus owners.

And it's yet another transfer of wealth, merged owners, thereby increasing income inequality.

And

When you talk about dissatisfaction and anger, again, I love that basic premise that revolutions aren't started by people who are unemployed.

It's started by people who are working two jobs and are still hungry.

So inflation, the Fed's job, you know, Fed is to keep employment at a certain level.

or unemployment below a certain level and to ensure inflation never gets out of control.

But that is the wrong order.

They know that inflation is the thing that brings down nations, not unemployment.

Yeah, I mean, just looking through some of the increases in prices here, I mean, obviously, airfares are way up, 27% year-over-year.

Gasoline, all types of gasoline, up 41%.

Fuel oil up 59% year-over-year.