Heterodox
Personal income, so Personal saving, ignore a huge part of Total Return — the income-from-assets measure used by every modern portfolio investor. Guess what’s missing? Personal Saving Makes More than 40% of Property Income . . . Invisible. Think Total Return, Wealth Economics, Steve Roth Matthew Klein and Joey Politano have been singularly responsible in their discussions of “excess saving” in the covid era — not least by always putting that...
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