2020-09-21 — forbes.com
While the act of saving expands the capital base for entrepreneurs eager to change how we do things, the purchase of housing logically shrinks it. When we buy a house we consume, as opposed to save, thus limiting the amount of resources that entrepreneurs can potentially access. Progress stalled.
So what's driving the economy-sapping rush into consumption over investment? An obvious clue would be the dollar. The dollar is weak. When it's in decline there's a natural rush into the consumption of hard assets least vulnerable to the dollar's decline.
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