Fear of Inflation – In Germany a Matter of Property Ownership, says Peter Bofinger
“In Germany, the fear of inflation has a lot to do with the fact that, compared to Europe, few citizens own their own property – the result of failed asset accumulation. Now people are sitting on large savings deposits that yield nothing. Of course, this puts retirement provision at risk. People get nervous. But people like to be scared. They also pay for the ghost train.”
– The economist and economic sage Peter Bofinger (alongside economist Thomas Mayer in a dispute) in “Is Inflation Coming?”, Handelsblatt, March 01, 2021, No. 41
