That time Peter McCormack 🏴‍☠️🇬🇧🇮🇪 explained to me why rich people (like him) love inflation ..and we all know I'm no good at maths

@PeterMcCormack Please next time let him answer the questions without talking over him 😩

When are we doing it again?

Anytime....and ive changed mu mind on a few things I want ro talk about private dentists and whether they are ripping off patents too

Also....eeeesh the lighting 😭

@PeterMcCormack She is really annoying let the man speak was wanting to listen to him and all I hear is your stupid ass voice. if your going to interview ppl get better at it shut the loud mouth and listen to what hes got to say 😬🤫

@PeterMcCormack She never let him finish his thoughts what a great interview

If asset values go up due to inflation, you don’t become richer, because the currency is worth is less. If you sell the asset, in practical terms you still buy the same goods and services. The only way you make money is if you can borrow money at a rate that is lower than inflation, and use that to buy assets. You can also make money from inflation if you are close to new money and are able to act on it before asset prices go up - the Cantillon Effect. But otherwise if you own a home, and the price of your home doubled, in practical terms you have gained nothing. You are still leaving in the same home, practically nothing changed.

Moronic answer. Inflation is good for one reason: your existing long-term debt becomes cheaper. If you have a $300K mortgage, the principal of your loan is fixed, regardless of the money supply. Think of it this way: You borrowed a nickel from a friend in 1940. Back then a nickel was worth the same as $1 today. But you still only have to repay the principal -- a nickel. So if you waited until today to repay, you'd be better off than if you'd paid back sooner. This sounds extreme, but with large loans of millions of dollars over time, inflationary spikes can truly erode the economic value of a fixed-rate loan, benefitting the borrower.

@PeterMcCormack She needs to stop interrupting so much. He doesn’t get to fully explain his points

@PeterMcCormack How does she not have imposter syndrome… 😂

@PeterMcCormack Can she shut the fuck up so he can speak. I really wanted to hear his thoughts

@PeterMcCormack She wont shut up long enough for him to answer

@PeterMcCormack "are you still making money on bitcoin?" Narinder, if you want to help left progressives you need to look past the personalities that have attached themselves to bitcoin and start educating your audience that there is only one hedge for not al people against what is coming.

@PeterMcCormack I'm glad you're learning but it's also worrying the level of influence you've gained without understanding these matters. It's worth learning from people who disagree as well as agreed with your political leanings

@PeterMcCormack This woman won’t let him talk

@PeterMcCormack Jesus she is as thicker as shit

@PeterMcCormack This woman should shut up and let’s hear the man. He was speaking she just keep speaking over him & asking stupid questions

@PeterMcCormack Bit of a weird take Asset values tend to outpace inflation - but it’s not the reason rich people love inflation They primary reason is the devaluation of debt And in reality you have a battle between different rich people - banks pumping rates and borrowers riding inflation

@PeterMcCormack Peter, the clip shows a poor explanation of debasement. Appreciate it's not easy when being constantly interrupted by misguided yapping puppy.

@PeterMcCormack Our economy does NOT work like a household. Everyone is either a pensioner or wants to become a pensioner. They tend to overwhelmingly spend their money in the local economy. Keep the Triple Lock. If you really want to get somewhere, invite @RichardJMurphy on to your podcast.

@PeterMcCormack You are not correct. Rich people invest in markets and inflation kills the investment just check it out over time.

@PeterMcCormack It’s true, he does rant about it a lot. No one tries harder than him to educate how the west got here. The left right divide distracts to keep the gravy train going while we fight amongst ourselves.

@PeterMcCormack She's not listening to his answers or receptive of any knowledge he's trying to pass across.. worse is, I don't think she realize it, she & her audience won't learn that way.

@PeterMcCormack She needs to stop interrupting him and let him answer!

@PeterMcCormack House prices don't go up. Interest rates increase. Mortgages rates increase. House prices come down. What's he on about?

@PeterMcCormack The one thing the wealthy fear more than anything is inflation. A whole industry of Family Offices are charged with nothing more than outrunning inflation.

@PeterMcCormack Assets go up, loans go down, it’s not rocket science if I just guessed it. Though sadly wages for lower and middle class tend not to keep up and housing and assets definitely don’t match it. When money does nothing and just grows, your just pooling wealth into a small pool

@PeterMcCormack Horrible woman!

@PeterMcCormack Stupid take. Inflation punishes savers and rewards borrowers. And who is the biggest borrower of them all? The government

@PeterMcCormack What he is trying to say is that ASSETS "go up" when inflation goes up. They go up slightly more than the inflation difference because idiots spend more money because their salaries go up and they think they're rich. So it's a double affect.

@PeterMcCormack As long as these so-called democracies exist, Govts will run deficit cause these criminal corrupt politicians just want to prolong their regime by "Misappropriation of Tax". Its a horrible mechanism and thats why big bizmen in democracies own politicians..!

@PeterMcCormack

@PeterMcCormack This is honestly the best version of you, unlike lost lefties you actually can have the conversation and be curious about the other perspective. Kudos where it’s due.

@PeterMcCormack Be honest. You're not good at anything.

@PeterMcCormack Peter is dead wrong about Dr Craig S Wright.

@PeterMcCormack Let the man TALK

@PeterMcCormack If you could shut up for a second and let him talk it would be great!