Analysing REITS

[specuvestor]

Fiat money by itself is inflationary and only existed as commonplace in past 50 years since the fall of Bretton Wood. Productivity, efficiencies and balancing the budget counters that. That's why US have the debt ceiling to preserve faith in the system though many who do not understand the purpose say it is redundant. If we invert it, is the world better off without debt ceiling or balancing budget, improved standard of living etc? It's a good thing that MMT that says debt doesn't matter never took mainstream cause it's not a game to play with our lives and livelihood, to parahrase LKY.

OTOH the truth is actually that modern Econs and Finance is just as "young" as modern non-newtonian physics of about 100 years. We have progressed in leaps and bounds in the past 100 years from a world where average mortality age was like 50. Financial planning and aging population is actually a consequence of that progress. That huge transfer of wealth will also be unprecedented just as 20% of the people own 80% of the wealth. Will it be inflationary or deflationary? As usual there is always pro and cons but on balance what is optimal going forward. That's why I agree with Buffett on estate tax as a social equaliser