> The money is being spent whether it's distributed to the masses and spent on food, or spent on a yacht.
I don't follow what point you're trying to make here.
> If anything it should be deflationary because the rich mostly don't spend their money, else they wouldn't be rich.
The exact opposite is the case. "The rich", like all people who are able to put money aside for retirement/savings, seek to secure their wealth by diversifying their portfolio. In other words, they buy assets.
The other part is that ultra wealthy people will pay far above market value for basically everything, which creates inflationary pressure.
I don't follow what point you're trying to make here.
> If anything it should be deflationary because the rich mostly don't spend their money, else they wouldn't be rich.
The exact opposite is the case. "The rich", like all people who are able to put money aside for retirement/savings, seek to secure their wealth by diversifying their portfolio. In other words, they buy assets.
The other part is that ultra wealthy people will pay far above market value for basically everything, which creates inflationary pressure.