becuase productive assets have been built to the point of overcapacity due to low interest rates. And becuase they wont catchup with debasement. For example argentina or venezuela stock markets. Inflation lowers the demand for goods. Debasement increases aggregate price levels but lower demand lowers price levels. However assets like gold that has extremely little industrial demand or use can benefit from debasement without worrying about lower industrial demand like copper or silver. Crypto can be argued to have the same thing that it is not affected by lower demand of impoverished consumers.
Why invest in productive assets when you can invest in an unproductive asset such as Bitcoin? What a time to be alive.
becuase productive assets have been built to the point of overcapacity due to low interest rates. And becuase they wont catchup with debasement. For example argentina or venezuela stock markets. Inflation lowers the demand for goods. Debasement increases aggregate price levels but lower demand lowers price levels. However assets like gold that has extremely little industrial demand or use can benefit from debasement without worrying about lower industrial demand like copper or silver. Crypto can be argued to have the same thing that it is not affected by lower demand of impoverished consumers.