TRUTH BOMB ALERT I can’t tell you how to get rich, that’s a mix of luck, timing, and hard work, but I can tell you how rich people STAY rich: - They buy assets and do nothing If you want to test a politician's integrity, ask them to explain inflation, whether they should be eliminating it and how they will do it. The chart below shows the problem: - Yellow line = CPI (the government’s BS version of the cost of living) - Other lines = real assets: Gold, House Prices, the S&P 500, Bitcoin Here are the growth factors from 1995 → 2024: - CPI: 2.02× - Wages: 2.27× - House prices: 5.27× - Gold: 6.17× - S&P 500: 10.33× Bitcoin launched in 2009 so I am holding off on that, but it is another tool which protects against inflation. Now for wage growth - 2.27×, barely above inflation. So what is the conclusion - assets crush both wages and inflation. The do nothing strategy, it is magic! If you don’t own assets, you’re treading water. But it gets worse, if CPI actually included the real cost of participating in society (housing, energy, childcare, transport) you wouldn’t even be treading water, you’d be sinking. You know how everything feels more expensive - yeah that is this. Can't get on the housing ladder - yeah that is this. Rich guy bought another Porsche - yeah that is this. That gap, the gap between CPI and asset prices, is where wealth inequality is created. It is a transfer of money from the poor and middle-class to the rich. Asset holders get rich off morons in government, you know the virtuous free stuff politics. Non-asset holders get poorer. These are the numbers. This is the system. Facts don't care about you feelings. And any politician who can’t explain it, or won’t fix it, is a fraud. Anyone who says "tax the rich" and think this is done with the tax code is a moron.(Peter McCormack 🏴‍☠️🇬🇧🇮🇪)