

Dealer’s Hand: Why are so many people paying so much money for art? (2013) - samclemens
http://www.newyorker.com/magazine/2013/12/02/dealers-hand

======
wazoox
Because QE puts so much money in the hands of already rich people that they
lack markets to invest in, therefore arts, collectible cars, posh condos and
houses all go up with the bubble.

~~~
carsongross
Exactly.

The money supply is expanded by stuffing the top end, the middlin-and-below
credit consumers are already stuffed and/or maxed out, so, unsurprisingly, the
high end is trading stuff back and forth and higher and higher prices.

This is one reason that, despite the fact I lean anarcho-localist, I
tentatively support a citizens dividend: if we are to have a fiat monetary
system we could at least make the expansion thereof equitable and eliminate
the early-receiver advantages in New York and D.C.

~~~
ajcarpy2005
There is discussion of this here: [http://finance.yahoo.com/news/instead-qe-
fed-could-given-094...](http://finance.yahoo.com/news/instead-qe-fed-could-
given-094500275.html)

------
danra
_Very important people line up differently from you and me... they get as
close to the door as they can, claim a patch of available space as though it
had been reserved for them, and maintain enough distance to pretend that they
are not in a line._

That's curious - ---holes do that too!

------
shaurz
Same thing is happening in ancient coins. Rich people are looking for safe
assets to store wealth to avoid taxation/confiscation as governments worldwide
hunt for revenue to prop up the unsustainable welfare state.

