Johnny Harris Is Wrong About Inflation

Рет қаралды 440,709

Күн бұрын

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Mr. Beat reacts to this video by ‪@johnnyharris‬: • INFLATION, Explained i...
A better video about inflation with ‪@ProfessorDaveExplains‬: • Inflation and Deflation
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#johnnyharris #economics #inflation
I understand it’s difficult not to oversimplify stuff when you’re explaining something in six minutes, but the reason I felt obligated to make this response video was mostly because Johnny butchered the DEFINITION of inflation right out of the gate.
Chapters:
0:00 Intro - Johnny Harris style
01:16 Back to Mr. Beat
02:33 Twitch reaction
17:44 In conclusion
20:17 Outro and Twitch

Пікірлер: 3 100

@iammrbeat Жыл бұрын

Let the record stand that I am still a pretty big fan of Johnny Harris. That said, what other videos of his should I react to? Also, in case you're bored and stuff, I stream on Twitch every Monday at 9am Central! There I plan on reacting to other economics videos, as well as geography and American history videos, of course. :) www.twitch.tv/iammrbeat And finally, don't forget my sponsor. You can get priority access to Masterworks by going here: masterworks.com/s/mrbeat

@Vapez759 Жыл бұрын

This has nothing to do with the video but nice Weezer vinyl

@EnderGrad Жыл бұрын

You stream on _Discord?_

@zeitgeistx5239 Жыл бұрын

I dunno, some of his videos are really poorly researched and leads gullible people to think that they have a grasp of the topic based on his superior production skills.

@emajorchord7064 Жыл бұрын

Love the Pablo honey in the background lol

@TNOBasedBatov Жыл бұрын

Can you make a short or a short normal video reacting to his latest short about women football and sexism My respect for him was slowly coming back and boom im never watching one of his vids again

@kortyEdna825 23 күн бұрын

The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

@foden700 23 күн бұрын

I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.

@carssimplified2195 23 күн бұрын

45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.

@PatrickFitzgerald-cx6io 23 күн бұрын

Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?

@carssimplified2195 23 күн бұрын

She goes by ‘’Marisa Michelle Litwinsky’’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did

@PatrickFitzgerald-cx6io 23 күн бұрын

Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

@historyhub9211 Жыл бұрын

Mr. Beat becoming hip to connect with the youths.

@iammrbeat Жыл бұрын

I'm using the word "based" in regular conversations now.

@NoNTr1v1aL Жыл бұрын

@@iammrbeat I see that Destiny is rubbing off on you.

@nooblord1233 Жыл бұрын

@@iammrbeat based

@GetMeOutOfMyMisery Жыл бұрын

@@iammrbeat that's based

@handsfortoothpicks Жыл бұрын

@@iammrbeat 💀 based

@rickwong9049 Жыл бұрын

The Johnny Harris parody at the beginning really an art. Always love seeing your economic presentation Mr. Beat.

@erikeliasson4739 Жыл бұрын

yeah its so funny and on point

@tacochub4353 6 ай бұрын

I just sense his jealousy lol

@josuesilva9409 5 ай бұрын

@@tacochub4353 it’s just a parody.

@uncurled520 Жыл бұрын

I remember when Johnny Harris went independent he made a big deal about it and the problems in journalism, but his content since has been an excellent argument for traditional journalism's vetting processes. Man really needs an editor and fact checkers who can overrule him when he goes too far. When I saw nebula had picked up his content I was actually disappointed because it only offers further legitimacy to his wildly uneducated statements.

@asier_getxo 6 ай бұрын

yeah, when he was at vox it wasn't that great either. Always been kind of a neolib propagandist. His content is still enjoyable, and you can get value from it, but under his veneer of objectivity (which is impossible to get a a matter of fact) he's very partial. With borders, I remember really liking his videos and thinking they were super well researched, until he made one of the country I live in (the spanish one), and realised it was actually a vert gross missrepresentation, kinda misleading.

@skymtz 6 ай бұрын

Fact checkers 💀

@AntiContradiction 6 ай бұрын

@@skymtzyes, fact checkers

@NegaRenGenX2gay2lift 6 ай бұрын

@@asier_getxo in his video about CIA Coups, he glossed over Chile super hard. did not summerize the events at all.

@TenTabs 6 ай бұрын

He feels like a cnn correspondent

@willrands1532 Жыл бұрын

This isn’t the first time this happened to Johnny. I don’t know how I feel about him anymore

@animatechap5176 Жыл бұрын

Yeah I don't bother with him any more

Жыл бұрын

That's one time too many for me. Inaccuracies are one thing, but this is just laughably wrong.

@MisF1998 Жыл бұрын

I stopped watching his videos. It feels getting so flashy but lacks substance. I guess that if you know how to present yourself very well, you can convince anyone despite how wrong you are at times. I'm a bit jealous of those who have this skill.

@francist4381 Жыл бұрын

He's a hack

@squwooshk Жыл бұрын

Didn't he make a video supporting the great reset and the idea of "stakeholder capitalism"

@moredac2881 Жыл бұрын

I really hope more people see this. Johnny Harris has gotten too much wrong recently to not be called out on it.

@marmac83 Жыл бұрын

Didn't you know Europe was an impoverished, isolated peninsula jutting from Asia and became the Little Engine That Could (Colonize and Exploit the rest of the World)?

@enider Жыл бұрын

As someone quite familiar with near-modern (the last 500 years abouts) of Chinese history, seeing him just skip over a few hundred in his video about the country was insane to me. He di not even mention the Qing dynasty, I thought I was going insane while wastching it.

@kevinmichael9482 Жыл бұрын

@@enider IKR! what's a few centuries worth of history among like-minded friends? Let me see! I'm guessing his focus was heavily centered on Mao?

@anthonyhodgson2934 Жыл бұрын

I agree completely, he has always been a giant turd

@Somebodyherefornow Жыл бұрын

his new shorts are also wrong. You can also sort by new on his comment sections, look at replies on peoples comments. Even his old videos are very bad, some were deleted, some have comments off Look at his liketoDislike ratio

@NicholasBall130 3 ай бұрын

Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place.

@StacieBMui 3 ай бұрын

It has never been simpler to grasp how to expand your wealth than it is right now, thanks to the availability of competent portfolio advisors that can help you experience and learn about a market with a wide range of assets. I think it's impossible to predict how changing dollar values will affect assets.

@EleanorBaker474 3 ай бұрын

Yes, I have been in touch with a CFP ever since the outbreak. Today, investing in hot stocks is quite easy; the difficult part is deciding when to buy and sell. With an initial starting reserve of $80k, my adviser chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

@StocksWolf752 3 ай бұрын

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.

@EleanorBaker474 3 ай бұрын

Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@briannawaldorf8485 3 ай бұрын

This whole fucking thread is full of bots spamming for some supposed financial advisor 🤮 preying on people who are afraid of losing their meagre savings due to inflation. Disgusting

@CG-eh6oe Жыл бұрын

Johnny Harris is great to watch as an experiment on how someone with pretty little clue of what he is talking about can be 100% convincing. I really started loving his videos once i realized that.

@monhi64 Жыл бұрын

I wouldn’t say that, like I wouldn’t exactly call myself a fan of Johnny Harris. Hell I’d even go as far as saying I’m skeptical enough to almost be a, let’s say “disliker”. But he doesn’t know nothing, nor is he always wrong. He’s just biased like everyone and puts out some poorly researched info or videos sometimes. Who isn’t guilty of that to some degree though, in the sphere of content Johnny does.

@ksenia5199 10 ай бұрын

He’s not always wrong. He’s just very frequently wrong. His videos are constantly being refuted by experts in different fields.

@jeremyud 10 ай бұрын

Johnny Harris began life as a Mormon missionary. It's just a deep part of him, even though his political and religious ideology have switched.

@asier_getxo 6 ай бұрын

@@monhi64he's extremely biased in the wrong way: thinking you're not. So instead of acknowledging his biases and working through thems, he puts a veneer of objectivity that first misleads his audience, and second, renders him unable to exercise much needed critical thinking over topics. I remember truly liking his borders content over places I had no idea about. But then he made one of a place in Spain, and I was surprised by how ill informed and researched it was. And no, it was not because he said something bad and I felt attacked, since even though I'm officialy spanish, I'm a basque independentist, internationalist, and couldn't care less about ceuta and melilla (the border he talked about)

@matthewgarrison-perkins5377 Жыл бұрын

Thank you for putting the US inflation issues at the feet of those who deserve the blame, instead of allowing the corporate owned media to continue to scapegoat low income consumers.

@iammrbeat Жыл бұрын

It's funny how the working class is often the first blamed in most media.

@singularity___ Жыл бұрын

@@iammrbeat It's always made to be about people not having enough "personal responsibility", isn't it?

@Jooshyb Жыл бұрын

@@iammrbeat It's a trend that's become more glaringly obvious as I become more informed

@richardarriaga6271 Жыл бұрын

Yeah, I told a friend those unemployment checks were only comparable to normal income for a few months. Despite being unemployed herself for a bit, she still blames those programs for inflation.

@wanderingthewastes6159 Жыл бұрын

@@richardarriaga6271 and they are? Now ofc they aren’t the only factor, but an increase in the money to goods ratio is a textbook cause of inflation.

@skahg4771 Жыл бұрын

Johnny Harris always did seem like he was simplifying things so much that he would end up being wrong somehow. I didn't know enough about the material while watching his videos to understand what was wrong, i just knew that stuff could not be simplified to the degree that Johnny Harris tries to. There is always way more context required to understand the topics he covers, and the length of his videos are never enough in my opinion. Videos about economics SHOULD be long In my opinion.

@bmorg5190 Жыл бұрын

Yeah when he’s not making videos crying about the USA taking something

@alonkatz4633 Жыл бұрын

I'd say that if those short videos make people learn more, then it's worth it. I only heard about Johnny Harris right now, so I can't comment on them, but the idea of education is to raise interest in people.

@marsco1758 Жыл бұрын

His video on European colonialism is a joke

@skahg4771 Жыл бұрын

@@alonkatz4633 I agree that education content is super important. The problem with Johnny Harris, like Mr Beat said in this video, is that he makes mistakes by going too fast and simplifying too much. I think Johnny should continue making videos, as he is very talented, but he should take his time and make the video long when it needs to be. He covers a lot of controversial stuff and the more context the better.

@surreal5444 Жыл бұрын

Johnny is a good journalist who provides the pin-point information. But,the problem is he always does that. It's quiet unobvious to expect out of range news from professionals.(you tubers included).

@plazmikpond Жыл бұрын

Your mockery of his editing style at the beginning got me dying bruh 😭💀 too accurate

@roseroland1998 Жыл бұрын

Inflation is producing a slew of problems throughout the world, including food shortages, diesel and heating fuel shortages, and housing prices and financial market crash. This global collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.

@anthonyrussell5718 Жыл бұрын

The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.

@lisaollie4594 Жыл бұрын

in my opinion, the impact of the rise or fall of the U.S. dollar on investments is multi-faceted but learning how to grow your money has never been easier than now that you can explore and experience a truly diverse marketplace passively by using a well-performing portfolio-advisor.

@svengrot7943 Жыл бұрын

@stanleyedwin6947 Please who is your FA and how can i reach out?

@svengrot7943 Жыл бұрын

@stanleyedwin6947 Impressive, i’ll most definitely check her out. I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.

@ChaosEIC Жыл бұрын

Inflation does NOT create any shortage. The shortage creates the inflation.

@ralphm2425 Жыл бұрын

Johnny pretty clearly contradicted himself when saying it was money people needed, but also that it was more than they usually have

@iammrbeat Жыл бұрын

Exactly

@MultiSciGeek Жыл бұрын

Exactly this was so weird to me. Like all my hippie friends suddenly sharing right wing Trump memes.

@shortsbetacompil5523 Жыл бұрын

He is wrong about COLONIZATION in Africa too. Outrageous that he defended it

@haseebdaudzai3250 Жыл бұрын

Not really, most people need more money than they have (people cant afford healthcare). If they get all the money they need, there will be more money in the economy than there should be. Thats because some people have more money than they need. The economy is unfair sorry, but some people are always going to be better off than others. When stimulus bills starting coming inflation was going to follow.

@xHarpyx Жыл бұрын

Stimulus spending is a scapegoat. The main cause is corporate greed run rampant. And no one in the mainstream are talking about this fact! They’re reporting record profits. All data shows it’s lack of price gouging regulations. Since corporations own the media and the government, there’s nothing to counteract the propaganda.

@salamantics Жыл бұрын

You nailed his editing style. Mr beat never misses!!

@iammrbeat Жыл бұрын

Well thank you. I have watched quite a bit of his stuff. lol

@maspesasmasperras5554 Жыл бұрын

@@iammrbeat you're mr beast without an s

@cctwoicy Жыл бұрын

@@maspesasmasperras5554 😱😱😱😱 REALLY

@Wow_btw Жыл бұрын

@@maspesasmasperras5554 😱

@cgraviss Жыл бұрын

It's not prices, it's money supply. Prices follow money supply, but not evenly.

@marie22112 Жыл бұрын

Thank you for this video. I am sick of people trying to pin inflation to an overly simplistic idea that "the government is handing out too much money". The inflation we're dealing with now has a lot to do with the labor shortage & reorganization (2.6 million excess retirements and 47 million Americans changed jobs in 2021) and the global supply chain disruption caused by covid. Interest rates are a factor but there is much more going on. Plus it's not like the US is the only country in the world dealing with inflation....

@CheeerriOH Жыл бұрын

Don't forget opportunistic corporations jacking up their prices far beyond the increases in cost because they know they can get away with it.

@ComradeCatpurrnicus Жыл бұрын

Are you really just going tobleave out the undeniable main factor? Corporate price gouging that goes unchecked because our politicians are often bought by those corporations. Workers get screwed and exploited by corporate greed and so do the customers that they will drain as much as they can out of, taking literal any flimsy, semi-true, or completely untrue, reason to do so.

@alexkozliayev9902 Жыл бұрын

"I am sick of people trying to pin inflation to an overly simplistic idea that "the government is handing out too much money"" But it is original meaning of term "inflation". Because it was called "inflation of the monetary base", meaning you printing money, or spoil precious metals in coins. Expanding a monetary base naturally leads to growth of prices. For some reason people started to call any rise of prices "inflation", which is not really correct, because absolutely different causes can lead to rise of the prices. It strange to put absolutely different phenomenons under the same word.

@AmericanRevanchism Жыл бұрын

Supply chain issues were not caused by COVID. They were caused by the government's response to COVID. We must be accurate in order to understand who is to blame. A virus did not shut down tons of businesses, the government did.

@marie22112 Жыл бұрын

@@AmericanRevanchism Our shipping ports and freight lines were never shut down, they were deemed essential workers. The bottleneck with Northeast Asian shipping lanes even happened in 2021 -- long after any state or federal lockdowns ended in summer of 2020.

@salokin3087 Жыл бұрын

Johnny harris proves that overly produced editing and good looks means more than actual decent information or history

@iammrbeat Жыл бұрын

I'd rather try to get the information right than make it look slick, which my regular viewers already know lol. After all, I still am highly dependent on Power Point.

@salokin3087 Жыл бұрын

@iammrbeat Virgin after affects user vs chad powerpoint veteran

@metcas Жыл бұрын

It's so true, and I'm so glad it's getting called out. Harris always drove me nuts. He LOVES to put himself front and center and make himself look pretty, and it just IRKS me.

@jpablo700 Жыл бұрын

That's charisma. People like charisma.

@bradley8575 Жыл бұрын

I mean the guy’s China is so powerful video at times is literally propaganda Or in the US stole Philippines video where he forgets to mention the brutal Japanese occupation of the country and also the fact that the US did want to give the Philippines independence analyst starting in 1935 under Roosevelt he is extremely bias about his video with little fact and info for it

@SalutExpla Жыл бұрын

When the lady at the start said "money is one of those things" I really felt that

@iammrbeat Жыл бұрын

lol this is my favorite comment

@alexzhu3109 Жыл бұрын

we indeed live in a society

@trulsslemmeli8134 Жыл бұрын

Fun fact, Harris is neither an economist, historian or an anythingist.

@jeremyud 10 ай бұрын

Harris is a Mormon missionary who flipped his belief system. It's the same conviction, just a different set of beliefs now.

@houseplant1016 6 ай бұрын

He studied economy and journalism

@cosmiclaziness 6 ай бұрын

fun fast, nobody cares

@BC_Geoff 6 ай бұрын

@@houseplant1016 but does he have a degree?

@Neojhun 6 ай бұрын

@@BC_GeoffYeah that doesn't make sense, Johnny has a Bachelors in International Relations and Affairs basically Diplomacy. Tangently connected but not his wheel house.

@portalrene2485 Жыл бұрын

I congratulate you for the courage of challenging anyone, including Johnny Haris who I follow since the pandemic broke out. Whoever is able to influence must be on permanent check. Good luck!

@benfelps Жыл бұрын

This is a great fact check, I think Johnny Harris is like the tip of the spear of KZfaqrs who read Wikipedia pages and then make really confident sounding videos with slick production that are usually misleading, false, or incomplete.

@nanaaddae4790 Жыл бұрын

He’s very bad at his perceived “job” that I truly believe he’s only made it so far because of his production budget. I can’t even recommend him as a way to start from the beginning of diving into a topic, because of just how poorly he explains things!

@tboards71 Жыл бұрын

And you’re a dumbass. Harris will literally place his research info on a table, for all to see. It’s kids like yourself that only see the production of the videos, you know, like a goofy cat chasing the laser light on the floor.

@MultiSciGeek Жыл бұрын

This is EXACTLY it! Literally that's what he does lmao

@frego16 Жыл бұрын

Dude, how can you say is a great fact check having the most basic concepts wrong. Is not possible to have inflation without excess money. It won't just happen because you would have to violate basic principles which would be a nonsense. Mathematical models won't have any sense. For example, in order to have inflation, without excess money, suddenly there will be 'budget imbalances' because people would spend more money than the existing. Do you hear how illogical that sounds?

@somethinglikethat2176 Жыл бұрын

I don't know anything about Johnny Harris, but if he covers a basic economic topic this poorly after getting a degree in economics, I'd hate to see him cover something he doesn't know much about.

@MoonManMan Жыл бұрын

Thanks for this response Mr. Beat! I also recoiled at his initial definition of inflation and felt that his simplification was playing into a broader narrative of overspending, rather than demystifying the (admittedly complicated) mechanisms of price increases. I'm glad this video is out there as an alternative for students

@iammrbeat Жыл бұрын

Thanks for the kind feedback!

@hawkname1234 Жыл бұрын

Agree. It's like saying you score a run in baseball by hitting the ball. Sure, that's ONE cause. But there are others.

@lorenzoblum868 Жыл бұрын

When prices are more based on trends and speculation rather than craftsmanship, you trigger chaos. Greed = corruption = inflation.

@a_plus_luxe3426 6 ай бұрын

During covid zoom workers moved to smaller towns outside metro areas. Keep in mind landlords hate lowering rates, they would rather offer 1, 2, or 3 months free rent than lower rent by the equivalent 8-25%, so while rents were skyrocketing up to 3,000% in third rate cities as institutional investors bought up hot markets, rent merely flatlined or fell slightly in cities like NYC and LA. In that case widespread migration caused significant inflation without any input from the money supply. In another part of the economy for complex reasons shipping from China is cheaper than domestic flat rate. So these days 1/3 of all packages coming into the US are either Shein or Temu. They are filling up shipping containers on the way here, which are heading back to China empty, skyrocketing the cost of shipping causing further non-monetary supply inflation. It’s complicated, theres a lot going on and printing money isn’t half of it.

@timelston4260 Жыл бұрын

I'm surprised you didn't mention how one of the major contributors to inflation this time was the supply side disruption caused by the virus. Johnny made it sound like the supply chain couldn't keep up with the demand caused exclusively by government handouts, ignoring that the virus virtually stopped production.

@TzarLatok Жыл бұрын

" _I'm surprised you didn't mention how one of the major contributors to inflation this time was the supply side disruption caused by the virus._ " He did but very briefly in the clip starting at 9:00

@Duck-wc9de Жыл бұрын

And some social questions too. People went two years without doing stuff and overdid it in 2022. For instance, in Portugal, it came out a repport that the Portuguese spent 20% more this christmas than they normally do ajusted to inflation. One thing you need to know is that the portuguese population is poor, 40% of it relies on goverment subsidies to stay above the line of povery, the country also had one of the worst recessions in the eurozone, but people still spent like they never did before. And this does not aplly just for christmas, but that holiday, etc... things that people postponed from 2020 and 2021

@harrybaals2549 Жыл бұрын

"the virus stopped production" you mean the government stopped production. the virus did not transform into a sentient being and tell the world governments to suicide their supply chains. the government did, or more accurately, the people who tell the government what to do

@timelston4260 Жыл бұрын

@@harrybaals2549 I think they are called epidemiologists.

@harrybaals2549 Жыл бұрын

@@timelston4260 You're so plugged in you're beyond saving

@Noah73827 Жыл бұрын

I love the Johnny Harris parody at the beginning! I can’t tell the difference.

@iammrbeat Жыл бұрын

:) thanks

@TheMDVeed Жыл бұрын

Seriously, the beginning was phenomenal!

@Unofficial_History Жыл бұрын

I like how you corrected the issues with Johnny's videos without ever saying anything mean or insulting. If anyone says there was some kind of insult in this video, youre wrong. This is a prime example of how to argue with others online cordially and with respect. We cant all agree with each other all the time, and its good to correct each other when needed. Well done, always a pleasure watching your videos!

@yunggk7776 Жыл бұрын

It's called being a Professional something other KZfaqrs don't know how to do

@haydencapps Жыл бұрын

Thats probably good because he was also wrong about many things

@Michael-mh2tw Жыл бұрын

'Corrected the issues' he gave his opinion on it

@yunggk7776 Жыл бұрын

@@Michael-mh2tw he actually did correct information johnny got wrong especially about who was getting more money from the government that's not an opinion

@iammrbeat Жыл бұрын

Thank you for the kind words. I definitely try really hard not to be mean, but sometimes I can get a little salty. :)

@wegder 6 ай бұрын

When I was a kid, 50 cents bought a movie ticket, popcorn and a coke, sounds great but people were much poorer than today.

@oddurthorsson3436 Жыл бұрын

The real mess up was that he tried to simplify such a complex subject with so many variables into a 6 minute video. I just did a 10 page school assignment regarding inflation post covid and still felt that I missed some important details.

@CreamIceMs Жыл бұрын

Right? Especially when he repeated some things twice within the 6 minutes

@jakobibraden2083 Жыл бұрын

Easily the best parody of johnny harris ive ever seen

@derpmcgerp8062 Жыл бұрын

Ikr. Johnny's editing style is so over-the-top. Mr. Beat definitely nailed it. Started grinning immediately after I started the video. Lol

@iammrbeat Жыл бұрын

Well thanks! I sure had fun with it! :)

@MidwestBen101 Жыл бұрын

the hakim one is better

@mbrannon Жыл бұрын

At some point, we might have to stop pretending like this is a one time thing or just the one video for Johnny. He has a history at this point. Whether we get a correction video like this on one of Johnny's new video projects is like 50/50 these days. Each correction video doesn't touch on the trend of other corrections and instead always talks about how much they like his other videos. That is no fault of the people correcting him and I think that the issue is obviously just that they only have expertise in the one video that they are focused on and so they don't know about all the other issues in other videos that different experts have weighed in on. That often leads to stuff like in this video where you and others talk about how Johnny is great and all his other videos you enjoy but this one particular video you need to correct. Except it is not just this one video and you are one of a half dozen experts in a half dozen different fields doing and saying the same thing to Johnny's videos to the point that half of his videos are problematic. Johnny has a problem. Johnny's lack of thorough research runs deep through a large number of his videos across a wide range of topics. He is often misleading and outright wrong. Or worse just toes the corporate or propaganda line when talking about things he doesn't understand. He has been corrected by so many people on different videos ranging from this one, to his How Europe Conquered the World series, to the Chinese capitalism video where he was basically being a propaganda mouthpiece for the world economic forum sponsorship without being clear about that (while also simultaneously mirroring Chinese propaganda attempts on the platform). That last one also has a direct line of reasoning to this inflation video (in who it props up and who it blames) and now we can start to see a trend that makes me think its not just being poorly informed but possibly intentional on Johnny's part. It's reckless and it isn't a one time thing like each person correcting seems to think. Johnny seems like a nice guy (which only makes this more insidious) but he is misinformation central since breaking off on his own.

@milesalexandria3862 Жыл бұрын

Yeah, someone needs to work on a more thorough critique of him as a whole, all these add up to an incredible shady track record, especially with his responses to the critique. I'm beginning to think his only decent video is the language one

@joeljs9778 Жыл бұрын

👏👏

@peternystrom921 Жыл бұрын

stoped subbing to him directly after the first wrong video i seen from him.

@tobarf2940 Жыл бұрын

Everyone makes misleading content, or gets something wrong. Its up to the viewer to factcheck and learn themselves about the sources given in order to under a work's legitimacy. Not just let others do it for us

@frankguy6843 Жыл бұрын

@@milesalexandria3862 Tom Nicholas made exactly that video: "Johnny Harris: A Story of KZfaq Propaganda" kzfaq.info/get/bejne/etudY8WivMzNd6s.html

@vchrocks Жыл бұрын

Thanks for this video. Glad you pointed out multiple times that FED is NOT exactly run by the federal government. It has a complex system of ownership, contrary to popular belief.

@adrianalexandrov7730 3 ай бұрын

That's actually much more scarier that a bunch of unelected officials run something that can have such impact on tge whole economy. And they're not accountable.

@petermcgill1315 8 ай бұрын

Yeah, when someone uses “free money” in their argument… Alarm bells ring.

@TheMaghorn Жыл бұрын

Johnny Harris is the prototype for "Having a degree does not make you an expert."

@ludvig707 Жыл бұрын

I am actually amazed about the fact that you can have an Economics degree and still get the easy macro 101 definition of inflation wrong.

@iammrbeat Жыл бұрын

I say the same thing about myself! I have degrees in journalism, history, and education, but do not feel like I'm an expert in all three areas.

@agonistadenoche7806 Жыл бұрын

@@iammrbeat c’mon Mr. Beat, you may commit some mistakes here and there, but there’s no doubt that you’re an expert educator

@derekevans8294 Жыл бұрын

@@iammrbeat I have a journalism degree as well.

@johnnyhshify Жыл бұрын

@@iammrbeat finance, economics and various subset of science and engineering are very technical degrees. KZfaq is full of shot these days, dangerous racking up millions of view. By the way, the modern definition of inflation is wrong and perverted by keynsians

@OneNewHope Жыл бұрын

His movie ticket example actually kind of proves his own definition wrong... It's not like movie theaters have been selling out for decades... there are plenty of open seats for 95% of movie show times. So how is inflation "when businesses don't have enough stuff" in that case?

@mack-uv6gn Жыл бұрын

Thanks for keeping things practical and not sensationalizing things.

@JuletzMusic Жыл бұрын

Great video, thank you so much for these corrections/additions! The gross oversimplification that J. Harris is reproducing always grinds my gears.

@pierrethabet6169 Жыл бұрын

The Intro to the Video was really a spitting image of Johnny Harris's Intros, and that Kansas map part really got me!

@iammrbeat Жыл бұрын

Thank you. And that map really is from the late 1940s. It's amazing.

@theeJordanTaylor Жыл бұрын

Oh my god... Mr. Beat, you are leveling up.

@iammrbeat Жыл бұрын

finally!

@dhgatemark7786 Жыл бұрын

We need more of these! Thank you so much Mr. Beat!

@ProfessorAlexSilver Жыл бұрын

Man, I almost didn't recognize you at the video's start lol.

@alisagman362 Жыл бұрын

I watched his Inflation video, and two weeks later my Intro to Business teacher showed it to us in class, and now, two weeks later, your here telling me it is wrong 💀

@SyrupPls Жыл бұрын

It is a cause for inflation not the definition of inflation

@divinefavour1289 Жыл бұрын

mr beat is actually the one that is wrong

@iammrbeat Жыл бұрын

Oh no! Well do you still have the same teacher next semester?

@alisagman362 Жыл бұрын

@@iammrbeat no, I have a different class next lol

@nz3134 Жыл бұрын

@@divinefavour1289 how do you figure? Johnnys explanation is very 1 dimensional. As Mr Beat states many times - and correctly - Inflation is much more than Johnnys explanation

@Quadrophiniac Жыл бұрын

Honestly, I think Johnny does a lot of good work, but you are spot on. I think he is just so damn good at telling a story, and combine that with really good editing, and some awesome music and people just believe it. Its so well produced, that it feels like there has to be a whole team of people behind it, so people just assume that its accurate information. That's just my take anyways, and I am certain that Johnny will respond to this positively, cause he can actually accept constructive criticism

@nasis18 Жыл бұрын

I've never watched him, but if he accepts critique, than he isn't a bad faith actor. He should be given the benefit of the doubt. No one is infallible, we all get something wrong from time to time.

@Bragosso Жыл бұрын

Neither a fan nor an antagonist of Johnny, just wanted to say that he DOES have a team behind him.

@RobertThePro Жыл бұрын

I'm pretty sure He's the lead editor/writer for Vox

Жыл бұрын

Lately, every time I hear Harris's name, it is about what's wrong with his latest video. Looks like he went full on form over substance. He did very good work at some point, but it looks like this is now over.

@nateb9768 Жыл бұрын

Get this… months ago I emailed Johnny’s agent asking for a copy of a sources list for a specific video. No reply. Don’t think he has a team at all. If he had a team they’d give me a sources list so I can see if his work floats down the stream.

@migueld1733 6 ай бұрын

Hey ba in economics and major in accounting here. Thank you for this

@Nyives Жыл бұрын

We love your dorky videos. I love coming to your channel because you don't throw political biases into them and you're very clear and concise. Your patriotism is very apparent and you make me excited to learn. Thanks for everything.

@maribethmorgan7886 Жыл бұрын

Damn-weird that Johnny didn’t go into the number of companies that took advantage of PPP loans- one report estimated that about 15% of the PPP loans were fraudulent, but yeah no shame on the citizens lol. This take was expected and is pretty common in America- I graduated highschool in 2019, and we were still being taught Reagan’s trickle down economics, but I didn’t know shit about tax brackets and wealth Inequality.

@iammrbeat Жыл бұрын

I hope to one day make a video about Reaganomics!

@maribethmorgan7886 Жыл бұрын

@@iammrbeat please 🤦🏼‍♀️ that concept was pushed SO hard in my highschool economics class, and these kids from poor families with huge disadvantages totally ate it up

@georgegillespie3737 Жыл бұрын

@@maribethmorgan7886 Reagan had a mixed record on taxes, so I would be careful to smear his tax policies as trickle down economics.

@mohammedsarker5756 Жыл бұрын

PPP fraud is a serious issue but not really relevant to an inflation explainer, it should be its own video

@phillylifer Жыл бұрын

@@mohammedsarker5756 no? Free money?

@johngleason663 Жыл бұрын

Despite having watched your videos for a long time, I didn't know you had an economics background. Much respect from a fellow Econ teacher! I think you did a great job breaking down a complex topic that many students have difficulty fully grasping. It would be awesome to see more Mr. Beat economics content in the future, I would love to show it to my students.

@iammrbeat Жыл бұрын

Right on! I plan on a video about Reaganomics at some point. Thank you for your service as a teacher. :)

@lepeangel3700 Жыл бұрын

@@iammrbeat REAGANOMICSSSSS

@murtog1 Жыл бұрын

I hope you didn't teach johnny harris

@dragonhero14 Жыл бұрын

@@iammrbeat Regan smash!! Can't wait for the video. Note: I think many of the policy changes Regan pushed or supported were flawed for the long term and have had an overall negative affect for Americans, but reserve the right to change my mind 😊

@bigoldick-digoldbick Жыл бұрын

@@iammrbeat what about a video on marxist economics? that could be interesting.

@sollamander2206 Жыл бұрын

I think the drastic demand shifts between goods and services in the past few years have also played a role. Live event prices have skyrocketed since the opening up whereas things like mountain bikes, which were almost impossible to find during lockdown, are now offered on sale routinely.

@technophobian2962 Жыл бұрын

Pretty good video. I feel like a lot of people take an economics 101 class and come out of it thinking they fully understand how the economy works and it's all just supply and demand. Also glad that you mentioned the high corporate profits, which I thought was crazy for Johnny to completely leave out.

@adamrosendahl8090 9 ай бұрын

There's a reason why he left it out. Do you hear that being discussed anywhere mainstream?

@classonbread5757 9 ай бұрын

@@adamrosendahl8090 Yes, very much so.

@the11thdoktor Жыл бұрын

Thank YOU for correcting it + giving it the proper context!! Really hate the oversimplified fear mongering of COVID stimulus investments

@iammrbeat Жыл бұрын

Yeah so many in the media repeat those tired talking points.

@jasonwang7028 Жыл бұрын

This was a really well done dissection video. You didn’t flame Johnny Harris or anything. Loved this a lot

@iammrbeat Жыл бұрын

Thank you, Jason!

@finlanderxx Жыл бұрын

Loved the parody of Johnny Harris edits at the start. Finally someone recognized the stupidity of Johnny's edits.

@duckvs.chipanddale585 Жыл бұрын

One of my favorite youtubers exposing another one of my favorite youtubers. amazing.

@Henchman.24 Жыл бұрын

4:20 wait a minute did you just explain inflation in less than ten seconds?? 😆

@mauryanempire7503 Жыл бұрын

Finnally someone is debunking Johnny Harris video.

@ninjawarrior8994 Жыл бұрын

Mr Beat is no pioneer in this field though. I have seen other videos talking about Johnny Harris.

@nateisawesome766 Жыл бұрын

@@ninjawarrior8994 Nathan Rich

@simlevesque Жыл бұрын

there are many of those already

@iammrbeat Жыл бұрын

I know a lot of us Historytubers tend to groan about his stuff.

@marmac83 Жыл бұрын

@@iammrbeat Johnny Harris on European History: Didn't you know Europe was an impoverished, isolated peninsula jutting from Asia and became the Little Engine That Could (Colonize and Exploit the rest of the World)? 🙄🙄🙄

@stevewyatt186 Жыл бұрын

@samanthalaura9938 Жыл бұрын

Wow I'm just shocked you mentioned expert Mrs Geraldine thought I'm the only one trading with her

@DaNeceTaitFickett Жыл бұрын

I'm from Los Angeles , I and two other of my friends tried her immediately we testified her performing wonders

@mikeposey718 Жыл бұрын

I countlessly share my experience with co-workers at work, on how I made $23,000 from $2,000 in 7 days of trading

@georgettegreg1795 Жыл бұрын

The crypto market is highly profitable with an expert broker just like Mrs Geraldine Lane. I got recommended to her and since then my financial life has been a success

@alinawilson5933 Жыл бұрын

I'm a long term investor. I withdrew my profits of over £56,000 during the covid-19 pandemic

@daxgotfacts Жыл бұрын

Good stuff Mr. Beat I think your voice should be more noticed in national discourse!

@RussellCapital Жыл бұрын

Excellent video. You absolutely nailed every counterpoint and sounded just like an econ professor! 👍

@mapk1516 Жыл бұрын

Awaiting Johnny Harris's comment replying to your points in the video

@iammrbeat Жыл бұрын

I'd be surprised if he actually commented.

@bmorg5190 Жыл бұрын

I am sure he thinks his short videos are so dazzling that you would never challenge him..

@cynthiakazmierzski8144 Жыл бұрын

Thank you for making this. Johnny Harris sensationalizes and oversimplifies everything, most of his videos are riddled with inaccuracies. It's disappointing they let him on Nebula.

@dirtydeeds4free553 Жыл бұрын

I usually dont enjoy your videos, but this one was really good. Congrats!

@505Hockey 11 ай бұрын

Thank you for this video on how social media can be manipulative and a source for misinformation. People have always said things that are lies, half-truths, biased, etc but social media gives them the power to broadcast that message to a much, much larger audience.

@PlatinumAltaria Жыл бұрын

Can we talk about the shop owner who thinks "Ugh, I have no unsold product! This is terrible!" Because that's totally why they raise prices, not "People want this thing, therefore I can get more money out of them for it!"

@alexandraa5424 Жыл бұрын

Same exact thing goes for “ughhh no one wants to work here” while simultaneously offering a horrible wage for the work required. Exploitation ain’t cool just because you’re the business owner. Maybe you don’t have a viable business?

@nickthompson1812 Жыл бұрын

It was at this point in the video where the original video completely lost me. He really thinks the poor among us were buying E-bikes with our $1200 stimmy checks

@FairyCRat Жыл бұрын

I love that parody you did. I always found his intros very funny. Should've included a coffee machine, highlighters, you adjusting the camera, and throwing freshly printed papers on the table though.

@joshuanunn9552 Жыл бұрын

A Mr Beat video that is actually good. Keep up the good work.

@discountinn Жыл бұрын

Haha man, the parody in the beginning is spot on!!! Well Done!

@georgehicks4035 Жыл бұрын

I'm also a big fan of Johnny Harris - he can make ANY topic interesting and broadly relevant. But I had a hunch his explanation of inflation was simplistic and not getting anywhere near the full complexity of the problem. This is a hunch I frequently have when watching his work. Still, he opens minds and makes you care about topics you hadn't previously ever thought about. Thanks for this video!

@marmac83 Жыл бұрын

Johnny Harris on European History: Didn't you know Europe was an impoverished, isolated peninsula jutting from Asia and became the Little Engine That Could (Colonize and Exploit the rest of the World)? 🙄🙄🙄

@iammrbeat Жыл бұрын

Well put and thanks for the supportive comment!

@nicolasvidal92 Жыл бұрын

I saw some of his work on Vox that's okay, but his personal channel videos are way too... simplistic? He creates a narrative that are too reactionary and it all feels so artificial.

@enider Жыл бұрын

If this has made you consider that, please also reconsider some of his other videos aswell. My personal pet peeve is his video on Chinas history and its many problems, but alot of his videos in agregate from a rather clear narrativ about how the world currently works. I dont think this is actively melicous but merely him not seeing his own biasies.

@justinwatson1510 Жыл бұрын

He is charismatic and makes slick videos, but then the ruling class has never had trouble finding charismatic propagandists to shape public opinion.

@dibsdibs3495 Жыл бұрын

The number of “Johnny Harris is wrong” videos is growing.

@iammrbeat Жыл бұрын

Well, to be fair, it coincides with Johnny Harris' growing popularity

@dibsdibs3495 Жыл бұрын

@@iammrbeat fair enough, like you said he does however prioritize telling an entertaining story as opposed to accuracy. I will say that he’s very respectful in commenting on these videos correcting him which is very admirable.

@eric_has_no_idea Жыл бұрын

@@iammrbeat the KZfaq engagement inflation problem. KZfaqrs create response videos to keep that in check. Can't have one person take the view-supply.

@BeautifulEarthJa Жыл бұрын

It coincides with Johnny spewing misinformation

@automatic5 Жыл бұрын

@@dibsdibs3495 he has to be respectful otherwise it will ruin his credibility. however ehat is not admirable is his growing amount of incorrect information on his videos. trying to educate others or do journalism, you should at least have the information correct, so if nothing else this speaks volumes about johnny's lackluster work ethic ...

@willyclips7517 Жыл бұрын

Great video mate, Not the first time johnny is being called out for his 'facts'

@pablosilva6988 Жыл бұрын

GREAT vídeo keep up the good work My friend.

@patrickking5883 Жыл бұрын

I remember having a visceral reaction to this video. Like no dude, we weren’t buying boats, we were trying to afford rent and having our landlords jack it up upon renewal

@justinallen2408 Жыл бұрын

It was so shitty I had a studio apartment that was 1400 already too high, considering there was an infestation of roaches in the complex cx then it was raised to 1500 due to the stimulus which I did not receive fantastic right what a world.

@jinxedjosie5934 Жыл бұрын

I love both you and Johnny Harris, and omfg I can’t stop laughing at the intro 🤣🤣🤣

@iammrbeat Жыл бұрын

I have tremendous respect for the way Harris and his team edits, especially after making that intro!

@number420pencil Жыл бұрын

Lol. The intro parody is great! love your videos.

@PlaylistWatching1234 6 ай бұрын

Your look with the Johnny Harris hat is actually incredible.

@jackbrown3985 Жыл бұрын

Thank you for showing us these issues with context, documents, and maps. This is serious stuff.

@patrick247two Жыл бұрын

Johnny Harris is starting to give me the Tucker chills.

@kylelyon8518 Жыл бұрын

😂😂😂 mr beat comin out with the humor too 😂😂

@omaracevedo4784 Жыл бұрын

Wow i follow both you guys both are equally well spoken and communicate your messages clearly and not boring.

@melon_man_dan6888 Жыл бұрын

Phew! Happy to know my HS teacher did a good job 😁

@danielgrimes7622 Жыл бұрын

The youtube drama i’ve been waiting for!!!!

@iammrbeat Жыл бұрын

I don't mean for drama, but I suppose it's inevitable.

@bmorg5190 Жыл бұрын

@@iammrbeat Johnny deserves it.. you would think he would be down to listen and learn anything if he’s anything like his videos.

@Bigcheifer Жыл бұрын

Great video! On a side note, I’ve never heard of either of y’all and couldn’t tell you apart by appearance lol

@CyberManor Жыл бұрын

Is the original Twitch reaction live stream available anywhere?

@chrisnemec5644 Жыл бұрын

One thing I remember is back in the late 1970's, there was a problem with inflation in the economy due primarily to the government trying to monetize the federal debt. It didn't quite work back then, but Johnny seems to be equating that incident with our current one. One thing you didn't mention about that third cause is some of the underlying causes of it. One could be a lack of resources. For example, some paints were going up in price (mainly paints artists would use to paint a portrait) due to some of the ores commonly used as pigments running low in supply long before the pandemic. Another is the cost of meeting government regulations. For example, in the recent pandemic businesses had to pay to make their place of business safer and less conducive to spreading the disease. Another is increased labor costs. Right now, many businesses are experiencing a labor shortage, and have to pay more to attract qualified applicants. All three seem to be in affect of late, making the current situation a perfect storm for them. I'm sure there can be more, but these are the ones I see in play now.,

@iammrbeat Жыл бұрын

Chris, fantastic point to bring up and well put. You got at the heart of what I was trying to articulate.

@samsingleton5083 Жыл бұрын

In my opinion it's fair and accurate of Mr. Harris to equate the two. The Federal Government ran record budget deficits in response to COVID and the Fed monetized it by printing 3.3 trillion dollars and buying U.S. treasuries. This only added to insane amount of cheap money in the economy which the Fed printed with its various QE rounds (response to 2008 financial crisis). At some point we have to put the blame where it belongs, on the government and Federal Reserve. The reason we can confidently say supply or COVID regulations are not the determining factor in causing this ongoing price inflation is that they'd be temporary. If it was only a lack of supply that cause the price inflation we'd have seen massive price deflation by now since all the COVID restrictions have been uplifted. Instead we haven't gotten that relief at all. We've gotten continuous price inflation, and both our current fiscal and monetary policy is inflationary right now.

@randomjunkohyeah1 Жыл бұрын

CEOs are currently bragging to their investors about how the “inflation” narrative is allowing them to raise prices with little pushback and earn them greater profits.

@JuletzMusic Жыл бұрын

@@samsingleton5083 The assumption that increase in money supply is the main cause of the current inflation is just not reasonable if you look at the actual economic situation. The war in Ukraine has an effect on many important economies and supply chains which seems to be a much more important factor. Especially if we take Japan as an example: we can see that their government debt has increased dramatically in the last 30 years up to more than 200% of their GDP (The USA is currently at 137%). Yet there hasn't been any dramatic inflation in Japan. In fact, inflation has been so low that they struggled with deflation. How does this add up with the exclusively monetary theory of inflation?

@samsingleton5083 Жыл бұрын

@@JuletzMusic The war in Ukraine has undoubtedly disrupted many supply chains. But it's not the primary factor in the ongoing price inflation in the U.S. First of all, price inflation was a major problem many months before Russia's invasion of Ukraine. Secondly, one of the U.S.'s top imports from Russia before the war was oil. However, currently oil prices are lower than they were before the war. In other words, I don't think the war can explain why we've seen a consistent rise in other sectors such as food, shelter, and transportation services. As far as Japan goes, again they are still feeling the effects of price inflation. They just had to raise their target on the 10 year JGB. And as you have said, there is not a direct relationship between monetary inflation and price inflation. However, it's not like just because consumer prices don't rise that the increased money had no effect. It still distorts market behavior and causes malinvestment.

@ChadRFoltz Жыл бұрын

I love Johnny Harris, but the opening of this where you introduced yourself and then said to look at this map genuinely made me laugh.

@alpacaofthemountain8760 5 ай бұрын

Great work!

@mrovey84 Жыл бұрын

Mr beat, I must say although I’m subscribed, I did not know who you were with the beanie and no glasses 😂😂😂😂

@infamcus Жыл бұрын

In the opening sketch and this is absolutely hilarious. I subscribe to both of you and this is pure gold. You got his editing on point 👌🏽

@iammrbeat Жыл бұрын

:) thank you!

@TyVision Жыл бұрын

Love the Johnny Harris themed intro.😂

@iammrbeat Жыл бұрын

It was fun to make!

@davidwebs111 Жыл бұрын

Lol that intro parody is amazing

@FlashDriveFilms Жыл бұрын

"Persistent inflation is always and everywhere a monetary phenomenon" It isn't the sheer amount of money supply, it is the mismatch between production & money supply. The pandemic not only put cash in peoples' pockets, it simultaneously shut down major segments of the productive economy. (travel, restaurants, manufacturing) That is where the mismatch occurred. Money up, goods and services down. (Would love to see where you discuss Weimar Germany, the 1980s Bolivian hyperinflation , Argentina on any given year.) Cost push and wage pull may be the fuses that light it off, but the excess money supply is the dynamite behind prolonged inflation. In my opinion, Johnny was more right this time than given credit for..

@dl2839 Жыл бұрын

Exactly

@Miserycordya Жыл бұрын

I bought food and paid my bills with my sweet sweet govt. money. I knew absolutely no one that was out buying boats.

@Panasonicy0uth Жыл бұрын

Econ nerd turned econ major here, and I just wanna say this is a fantastic video. Definitely earned a subscription from me!

@twinsen1949 Жыл бұрын

I'm just gonna go ahead and like the video beforehand getting to the meat of it cause that intro was on point.

@jonathanfarrell2378 Жыл бұрын

Thanks for your posting! It’s important that you point out that sometimes someone like Johnny Harris is not always correct. His enthusiasm is part of his appeal. Yet in that enthusiasm it seems he overlooks the fact he’s a journalist first and an “influencer” 2nd. Journalists must avoid being “influencers.”

@WM-ln4dz Жыл бұрын

Whenever I talk about it, I describe it as: "inflation is us". To me, the simplest explanation of the cause is that inflation happens when actors in the market bid up prices, regardless of whatever market we're talking about - consumer, producer, or based on monetary policy. The stimulus would only be relevant if the US had more inflation than other countries (that didn't grant stimulus), but that isn't the case. For the record, I hold both a bachelors and masters in economics, and I would wish every person who watched Johnny's video, would watch yours. The picture you present is definitely WAY more accurate and complete.

@advisorywarning Жыл бұрын

Same…. I am so exhausted with corporations and politicians gas lighting the citizens when we can clearly see what has happened. We can compare data from this country to others… we know that it’s not just about “printing money.” And the sentiment is way way way too common that “free money” is bad and wrong when you should be spending money during a severe economic shut down/crisis and no one can make any income. Plus I notice that the exact same politicians/businesses that cry about “free money” LOVED the PPP loans🙄

@kevinmichael9482 Жыл бұрын

Good point. I'd also like to hear more about possible alternatives. Where would we be minus pandemic-era stimulus? amidst a deflationary cycle (more damaging and difficult to mitigate than inflation)? Experiencing a depression (possibly)?

@classonbread5757 Жыл бұрын

@@advisorywarning Both can be bad

@johnmcnair1550 Жыл бұрын

If stimulus isn't contributing to inflation then couldn't the government just keep stimulating the economy with no problems? Could the government give every person a thousand dollars a month forever that they just print and it wouldn't contribute to inflation?

@WM-ln4dz Жыл бұрын

@@johnmcnair1550 Well, the government *could* choose to create a direct transfer payment that is less that whatever the overall growth of the economy is, and that would be pretty much fine. Your proposed program of 1k per month works out to a program cost of about 2.5 trillion per year, which is kind of high. Doing some back of the envelope math, I do figure the US could probably support an average annual transfer of about $761.91 (which could be either that every year, or you could do something like $1000/month for 1 year every 17 years on average) without meaningfully impacting inflation. It is all a matter of degree - the US stimulus probably contributed to 0.1 to 0.2 percent (even partisan sources on the right peg like AEI peg the stimulus at creating only 2%-3%) of the 7+% percent inflation that the US experienced. Mostly throughout the pandemic experienced cost-pull inflation - that is inflation due to an increase in the costs of production, which is exactly what the whole world got during the supply chain impacts of COVID.

@smac5443 Жыл бұрын

Mr.Beat always spitting facts.

@iammrbeat Жыл бұрын

Even when facts are boring! lol

@andrewprahst2529 Жыл бұрын

Cant beat the Beat

@anchor7549 Жыл бұрын

Commenting in hopes that this video exceeds the views of Johnny's video to reduce the impact of his misinformation. Great video, very informative!

@thirdypitero2977 Жыл бұрын

Great take, and I was also skeptical of his video on inflation as an economics student. I think that he was reporting this as a journalist more than educating his audience. Explaining the current inflation issue in the US rather than teaching inflation as it is, hence why he put much focus on the stimulus checks. I think the video would've been more credible if the title was at least "a short explanation on the current inflation problem." Thank you for providing educational content and critique.

@samlaude2944 Жыл бұрын

Awesome vid as usual! I am always intimidated and confused by economics and appreciate this video! One thing that constantly confuses me is the lack of communication/ awareness of how insane wealth inequality is and why it seems the public focus is almost exclusively on price of goods rather than where money actually is consolidated. I can’t help but think every high schooler should learn about wealth inequality and tax brackets.

@iammrbeat Жыл бұрын

It's not just you. Even historians often are confused by economics. I blame entire education systems for not teaching it well enough.

@jacksonray3596 Жыл бұрын

The amount of money that wealthy people have does not exactly correlate to the price of goods or services.

@8is Жыл бұрын

Economists should really do a better job explaining wealth inequality, since a lot of people don't understand why it isn't *that* important. The absolute value of everything in an economy is not fixed, it generally increases and almost always by a lot over longer time periods. If higher wealth brackets earn more wealth as a result, that does not mean that lower wealth brackets are somehow worse off. You have to remember that in the free market, the way you get richer is not by stealing, but to sell something valuable to others and the way you do that is by creating *more* value. People tend to counter this with stagnant wages, which leads to the morally questionable argument that it's somehow immoral for well off people to increase their wealth more than less well off people. Ignoring the morality of wage stagnation, different studies have come to different conclusions when trying to estimate general wage increases with regards to inflation over longer time periods. You can essentially draw the conclusion that wages have decline or increases. But even if you asume one to be true, it's not that simple anyways. If you compare to sometime when wages were supposedly higher, you can see how technology has immensely increased standards of livings, which compensates for any reduction in wages. More women also work nowadays which has increased the total household income. Average working hours have also declined, which makes working people generally less valuable on an individual basis. There are basically many other factors to consider and nothing in economics is ever clear cut.

@theman44ful Жыл бұрын

Wealth inequality is not something that most Americans care about unfortunately. Humans are programmed to pay much more attention to someone on the same level as them, so like if you’re a teacher and your neighbor is a teacher and they make $30,000 more than you you’re going to notice that far more than a tech billionaire making infinite amounts more than you. Humans just aren’t built to care about huge abstract number differences like that

@samsingleton5083 Жыл бұрын

Every modern civilization has had wealth inequality. Even communist ones like the Soviet Union or North Korea. Wealth inequality is not itself a bad thing. In a free market, those who provide more valuable good/services to others are bound to make more money and have more assets of value. This is a good thing, as it incentivizes people to create goods/services that others desire. As long as people are gaining more income and wealth as a result of benefiting society, it shouldn't be frowned upon in the least. It should also be noted that wealth inequality means nothing if there's no inequality of consumption. If the rich spent as much as the poor everyone would have the same standard of living. While a free market would have some inequality of consumption, if interest rates were allowed to rise to their natural rate then more people would be encouraged to save and not spend. And THAT is what so many people don't understand. It's not spending and inflation that grows an economy, it's savings. It's capital investment. That's what we need, but since we have an interventionist economy we are not.