[pizlonator]

The issue is that we're seeing asset price inflation that is far greater than CPI

In other words, we have two different inflations happening at once, leading to people who happened to own the right assets getting richer and everyone else getting poorer. I don't think that's what an efficient market would do, which implies that efficiency will kick in at some point and BOOM

[zahlman]

> we're seeing asset price inflation that is far greater than CPI

Have a look at the CPI-adjusted gold chart, and think back to how awful things were (or weren't) in 2011.

[MountDoom]

> In other words, we have two different inflations happening at once

CPI is just an index of consumer prices. It's like saying that we have two stock markets because Nvidia is going up faster than Costco.

> People who happened to own the right assets getting richer and everyone else getting poorer

It's not a zero-sum game. Almost everyone is more wealthy than their peers 30-40 years ago.

Wealth disparities widen, but the reasons for this are complex and go beyond inflation. And frankly, many of them are self-inflicted. Every single housing development in my neighborhood is thoroughly protested by everyone. And most of what my city officials do is inventing new rules and regulations. They're not working for big corporations or the federal government.

> I don't think that's what an efficient market would do

Sounds like you spotted an arbitrage opportunity?