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SG Scott Galloway Scott Galloway Professor of marketing at NYU Stern and author of bestselling books including The Four and The Algebra of Wealth.

“Inflation is a regressive tax with a birth certificate. If you own assets, it's a tailwind. But if you're young and renting, it's a mugging. And America is being mugged right now.”

Prof G Markets · Money & Markets · October 2026

“Inflation is a regressive tax with a birth certificate. If you own assets, it's a tailwind. But if you're young and renting, it's a mugging. And America is being mugged right now.” — Scott Galloway, Prof G Markets

Scott Galloway reacting to a September inflation report in which real wages fell for a sixth straight month. He cited figures that since 2022 wealth is up 37% for Americans 75 and older and down 23% for those 35 and under.

Transcript

Prof G Markets Around 25:38 into the episode
Speaker 2

Now is the time to buy. I hope you have plenty of the wherewithal.

Ed Elson

…as a result of the rising prices, which is mostly due to one, the war and two, tariffs. But we're really seeing the effects on energy. With gas prices up 34% year over year, that is related to what's going on in Iran. I mean, nothing good here, in my view. Your reactions to the inflation report. I

Scott Galloway

…in addition, the anger, the justified anger among people your age is the following. Since 2022, just literally four years, wealth for Americans 75 and up is up 37%. For people 35 and under, it's down 23%. So when people get angry at me for talking about why socialism doesn't work, they just look at me and they say, bitch, whatever has worked for you is not working for me. And you can understand inflation is a regressive tax with a birth certificate. If you own assets, it's a tailwind. But if you're young and renting, it's a mugging. And America is being mugged right now.

Ed Elson

Just on the idea of gas as, I mean, having outsized importance, I think what I would say is it has outsized exposure in public perception, which is why it really matters politically. And I think the same is true, by the way, of the stock markets. The stock market is one of those things that you're…

Scott Galloway

American families are more behind on their finances than at any time since 2010 after the great financial recession. And six months ago, Kyla Scanlon coined the term vibe session because she said, if you actually look at the data, the economy is doing okay and wage growth at the low end has…

Ed Elson

i think this is like the most important advertisement for why everyone needs to be voting laser focused on being well voted so that we'll get to that voting but also investing yeah uh like you have to be on the right side of this trade and you you like I'm I don't even I don't really care where you…

Speaker names from our own diarization · position estimated from where the line sits in the episode

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