This article was originally published on March 14, 2022.
Billionaire and entrepreneur of the Dallas Mavericks Mark Cuban answer to Tesla chairman Elon Musk’s commented on inflation, saying he found it “ridiculous” to use a single inflation figure as different categories behaved differently.
What happened: Cuban said on Twitter that while speculative assets will see accelerated inflation amid rising demand in a low-interest-rate world, the market will normalize once asset-short traders arrive as uncertainty abates.
I find it ridiculous to use a singular inflation number. Different categories behave differently. https://t.co/xyOqRT6UOA
— Mark Cuban (@mcuban) March 14, 2022
The famous shark tank investor also suggested steps the government could take as part of price control efforts.
It may seem counter-intuitive, but one consideration for holding prices is that the government acts as a market maker, shorting and covering the rise when the price normalises. Perhaps there is some eco-wisdom to counteract this? support it ? What do the economists think? https://t.co/BrM3cVmBPw
— Mark Cuban (@mcuban) March 14, 2022
Cuban made the comments after Musk asked his followers on Twitter about the “likely rate of inflation” over the next few years.
Why it matters: musk said on Sunday that Tesla and SpaceX saw significant inflationary pressures in commodities and logistics.
Cuban, a big proponent of Dogecoins like Musk said that in January Bitcoin will never be a hedge against inflation, and he believes Dogecoin is better suited for payments than the Apex cryptocurrency.
The Dallas Mavericks became one of the first units to start accepting Dogecoin for ticket purchases and merchandise in March last year.
photo by TechCrunch on Wikimedia
