Why Inflation Is a Double Kick to the Cojones

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Making matters worse how inflation is a double kick to the cojones It's not just that you don't have assets if you're relatively poor or middle class or enough assets to offset the massive price increases for the things you need to buy Consumption as a percentage of your income things you have to consume purchase to stay alive Food gasoline rent As a percentage of your income is a lot When you factor in rent mortgage and food for some middle class and poor folks it's like some you know 80 sometimes 90% of their income You think it's the same for a Warren buffet or a Bill Gates Folks the guy could have a $10 million house Warren Buffett and it's zero zero zero 1% of his income It's nothing It's peanuts for them So making matters worse consumption for them or the things they have to consume and buy where the prices are more or small sliver of what they're worth It's nothing to them It's a tip in a restaurant Ken langone explained this beautifully He was on CNBC Here's him yesterday queue up for me cut 7 It's about 30 seconds long saying hey listen folks this is gonna feed on itself It's gonna get worse You better not play this thing down Check this out Where do you think we are in terms of policy in this country rise What is it 70% think we're headed the wrong direction You started it Ken I don't want to get political but let me give you a warning This inflation is a lot worse than people think it is not transitory and trust me the little people People like my parents and Larry's parents they're going to suffer because it's a inflation is a regressive tax It is the poor people hardest of all We have serious problems in America Listen you should listen to langone This is a very smart man He got very wealthy being socially smart and having traditional intellectual IQ The intelligence quotient This is a smart guy Disregard what he's saying at your own

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