Is Hyperinflation Coming?
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Күн бұрын➡️ economicsexplained.substack.com
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Inflation is something we more or less take for granted these days. The idea that 5 dollars today is not going to be able to buy 5 dollars worth of stuff in the future, and the fact that you used to be able to buy a family home for 10 grand, are all the result of inflation.
The idea that over time money becomes worthless and less influences a lot of decisions in out lives. Everything from retirement planning to salary negotiations take this relatively benign and constant force into account.
But it is something that should be feared.
Hyperinflation is where this slow but steady force explodes and renders money all but useless.
Since the money printers fired up in early 2020 the US has added over three trillion dollars to is m2 money supply. That’s more than a 20% increase in the total amount of money washing around in the economy in the space of around 6 months.
What’s more is that 3 trillion dollars is coming close to doubling the amount of cash in active circulation, that is the pool of cash which is actively out there been spent on good and services rather than sitting dormant in bank accounts or term deposits.
When you consider that hyperinflation is classed as a 50% increase in general prices per month it is reasonable to expect that this printing bonanza may be starting to push into dangerous territories.
Or is it?
Is hyperinflation actually something to be concerned about, in a developed nation like the USA? Or are all of these cautionary tales simply a ploy to try and get people to buy gold coins at 50% over their base value.
Well to answer this we of course as always need to loot at a few key details and answer a few key questions.
What actually is inflation? It’s weirder than you might think
Is inflation actually good or bad for the economy?
Is the money printer causing inflation right now?
And what are the best ways to protect against this harsh reality?
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@EconomicsExplained 3 жыл бұрын
Thanks as always for watching :D This video was requested by the team over on Patreon. If you want to have your say on what video is produced next please consider supporting the channel. www.patreon.com/EconomicsExplained
@jai-kk5uu 3 жыл бұрын
Inflation bad fire good
@jacobw703 3 жыл бұрын
Chrome and Firefox are giving me certificate errors when I try to go to the link for the newsletter.
@salkjshaweoiuenvohvr 3 жыл бұрын
Video request: overall which has helped overall economy better? Laws enacted by conservative parties, or the liberals?
@nomadMik 3 жыл бұрын
IS YOUR MAILING LIST SERVER OKAY? I just tried signing up for your newsletter, and I was getting SSL problems. I tried twice. It could be something innocuous, but I can see why email addresses for your viewers would be a lucrative target for hackers-it doesn't take a lot to think of email scams that could trick people interested in finance in these interesting times, even if only 1% of people fall for them. So please check that your mailing list server is secure.
@robertgaul8109 3 жыл бұрын
ok, so two things that I think are failed to mention in this video 1. what if we are able to produce more goods with the same amount of money? We have seen are productivity skyrocket, so one dollar should by more goods rights? 2. we have more things competing for our dollar, we had access to a more variety of goods and services, we have smartphones, TV, exotic foods, and trinkets from around the world these are both massive deflationary forces that should be driving drown prices like crazy or causing an increase in wages, neither of those things is happening, so why? the easy anwser - consumer debt. instead of lowering prices or increasing wages, to buy more and more stuff and the same prices, people have opted for buying things through consumer debt, they buy their cars with debt, their homes, their furniture, their phones, and increasingly their groceries. consumer debt is so high because it's holding back the wave of deflation. a lot of the stimulus is not causing inflation because of this, any extra cash that goes to the consumer is going not to increasing standards of living, savings, or buying more stuff - it's going to pay off loans.
@darrenstettner5381 3 жыл бұрын
High school me would never have imagined I’d one day be listening to lectures about economics for fun.
@jorse456 3 жыл бұрын
well my economy teacher was not an ozzy
@aayushagarwal4138 3 жыл бұрын
Jokes on you I am still in High School
@charliejenkins100 3 жыл бұрын
Ditto..
@winterking2510 3 жыл бұрын
Same here. It's actually quite interesting and affects us through out our entire lives so it pays to understand it
@winterking2510 3 жыл бұрын
@@aayushagarwal4138 Joke's on you actually. You'll be leaving high school and entering one of the toughest economies ever
@kudamanjonjo55 3 жыл бұрын
As a Zimbabwean who has seen inflation, hyperinflation, deflation and then hyperinflation all in the last 12 years , this video is emotionally triggering! Lol
@dallyh.2960 3 жыл бұрын
Is your country one of the ones being neo-colonized by China?
@screenarts 3 жыл бұрын
Do not privatize your resources. Don't do it.
@ashthegreat1 3 жыл бұрын
MMT = Mugabe’s Monetary Theory
@Ganglydude 3 жыл бұрын
God bless you. I hope you and yours receive the blessings of Christ in your life.
@EnergeticWaves 3 жыл бұрын
@Mutant Pig but do you have any filler?
@quirkyork5607 3 жыл бұрын
If reading “money printers go brrr” is funny in memes, hearing you actually say it is hysterical
@mrleafbeef634 3 жыл бұрын
If its backed by gold then the $$$ value will go up!
@julieherz8909 3 жыл бұрын
the Ethiopian currency is "Birr" so its funnier to me
@iohin 3 жыл бұрын
18:04 I keep it looped on replay
@goatpepperherbaltea7895 3 жыл бұрын
Aussie version of burrr sound so good
@SimonTangers 2 жыл бұрын
Kinda cringe
@CL-oy3jh 3 жыл бұрын
"There are three kinds of lies: lies, damned lies, and statistics." Mark Twain
@brandonvillatuya9539 3 жыл бұрын
To be fair, he was pretty bad at math
@kaydgaming 3 жыл бұрын
He had some stupid quotes at times... and he changed his name to Mark Twain to evade taxes
@Aristocratic13 3 жыл бұрын
@@brandonvillatuya9539 lol
@Aristocratic13 3 жыл бұрын
Statistics don’t lie, but people do. I know this from experience
@artsmart 3 жыл бұрын
Thumbs up from me just because if Twain said it, it's probably so;)
@randomjin9392 3 жыл бұрын
_How to know when it's just inflation and when it's a hyperinflation?_ Take some money, put it in the bag, leave the bag out there in the street. *Just inflation:* somebody picks up the bag, takes the money, then throws the bag away *Hyperinflation:* somebody picks up the bag, takes the bag, then throws the money away
@elmikatv 3 жыл бұрын
Great tip!
@nathanseper8738 3 жыл бұрын
You summed up the madness of hyperinflation very well.
@will-wowdk1930 3 жыл бұрын
in hyperinflation money is still wortg lol you can buy things
@OopsFailedArt 3 жыл бұрын
william super well spotted. Good thing this was trying to make an entirely different point. Very smart sir. Your are a true Einstein:P
@will-wowdk1930 3 жыл бұрын
@@OopsFailedArt XD people complain about "to much money in circulation" just give me those milions dude and see how i buy a house a car nice garden and "settle" myself for life, because i am smart enough to not waste milions in a lifetime lol..
@QuestionEverythingButWHY 3 жыл бұрын
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.” ― Mark Twain
@0xszander0 3 жыл бұрын
I think i've seen this posted on every single ee vid..
@schumanhuman 3 жыл бұрын
"The earth belongs to the people. I believe in the gospel of the single tax." Also Mark Twain, smart and witty fellow.
@chrisblue46 3 жыл бұрын
An umbrella is also a good thing to have on a hot sunny day.
@GRNM-ro6hu 3 жыл бұрын
Well....the sun can cause cancer so the umbrella is pretty useful
@bhe8336 3 жыл бұрын
That isn't his umbrella though...Deposits are liabilities.
@ziksy6460 3 жыл бұрын
My economics teacher in high school used to keep saying "The government doesn't print money! It's a recipe for disaster!" But here we are.
@billmelater6470 3 жыл бұрын
"teacher"
@joaquinbarocio5320 3 жыл бұрын
More like “ TEACH HER”
@Swagalious689 3 жыл бұрын
Countries are weaponizing thier currency for trade once china has amassed trillions doing it. Your teacher was teaching on old economic warfare strategies.
@joaquinbarocio5320 3 жыл бұрын
Leroyyyyyyy jenkinssss
@gmarefan 3 жыл бұрын
Technically the gov doesn't. It just let's a private org do it and distribute it to private banks
@AtlantiansGaming 3 жыл бұрын
The stock video of the dude wondering why he is being filmed at 1:26 was hilarious!
@thatjuangamer6882 3 жыл бұрын
Had not noticed, so funny lol
@FingeringThings 3 жыл бұрын
Last time I was this early housing was affordable
@jai-kk5uu 3 жыл бұрын
Inflation bad
@freeze1305 3 жыл бұрын
1980?
@miavatarful 3 жыл бұрын
😂😂😂😂
@jai-kk5uu 3 жыл бұрын
@@alexander-mauricemillamlae4567 you mean housing bubble started right. Because if the bubble has already burst the prices have dropped and became affordable
@sownheard 3 жыл бұрын
Good old boomer humor
@themongolsarecoming_9437 3 жыл бұрын
To rephrase your question in the words of legends: "Money printer go brrr....?"
@EconomicsExplained 3 жыл бұрын
Yes, Money printer go brrr....!
@EckosamaGhostTsushima 3 жыл бұрын
@@EconomicsExplained Money printer go *brrr* ..... &
@hackerbrinelam5381 3 жыл бұрын
@@EconomicsExplained Money printer go brrrrr
@Julianna.Domina 3 жыл бұрын
@@EconomicsExplained Haha Money printer go brrrrrrr
@DarkPa1adin 3 жыл бұрын
I thought BER. Beyond Economical Repair
@mikesteelheart 3 жыл бұрын
When I was a little boy in the 90's my grandpa acted like if I saved a dime then I'd be a millionaire now... LOL!!!
@Freshman24727 3 жыл бұрын
I’m pretty sure he was trying to teach you the fundamentals of saving
@conradvonhotzendorf1128 3 жыл бұрын
I mean with compound interest you’d probably have a couple dollars 😂
@ivarvaw 2 жыл бұрын
If you'd put that dime into assets like Bitcoin, he was right!
@electronresonator8882 2 жыл бұрын
yes, but a dime every day in form of bitcoin in 2009, ...the coin is so trash that the price is basically 0
@cf6713 2 жыл бұрын
@@Freshman24727 Unfortunately his fundamentals were based on a system that makes sense.
@stevesmith7413 3 жыл бұрын
Reminder that most economists have no idea what they're talking about.
@screenarts 3 жыл бұрын
Yeah they brought us neoliberalism and look where that's gotten us
@tnatstrat7495 3 жыл бұрын
As opposed to... who?
@frederickdoofman5020 3 жыл бұрын
@@screenarts what has it gotten us
@screenarts 3 жыл бұрын
@@frederickdoofman5020 The last 40 years. You do know what neoliberalism is right?
@wyattbarnes9641 3 жыл бұрын
None of the kainzean economists anyway
@economicsinaction 3 жыл бұрын
**Hyperinflation is coming** Me: "And my teacher said I'd never be a millionaire! Suck on it!"
@SavantAudiosurf 3 жыл бұрын
Peter Schiff said there will be a 35% decrease in the value of the dollar throughout the year 2021.
@janeethapa8730 3 жыл бұрын
lol
@cageybee7221 3 жыл бұрын
@USA 2 MEXICO the value of the dollar has fallen that amount since 2000. it's not unthinkable.
@punditpounder5153 3 жыл бұрын
A friend of mine said, "One day we're gonna drive $100,000 cars and live in $1m homes, trouble is they're gonna look just like the cars and homes we have now."
@SavantAudiosurf 3 жыл бұрын
@USA 2 MEXICOOK then, I'll go into detail of how it has already been happening for the last 250 years. A bimetallic monetary standard was formalized in 1792 with the Mint Act. It set the gold to silver price ratio at 15:1, deeming gold to be valued at $19.39/oz. The price of gold was $19.39 for 1 ounce in 1792. Today, gold is $1915/oz. That means that since the dollar was created on April 2, 1792, it has now lost 99% of it's purchasing power in comparison to gold, which is what the US dollar used to be back by when it was originally created. Anything else?
@EconomicsExplained 3 жыл бұрын
Sorry the video is a little bit late tonight guys. Hopefully it is worth the wait :)
@michaelmeng1108 3 жыл бұрын
It’s actually pretty early for Friday
@pojke4130 3 жыл бұрын
Its worth the wait till 12 am no worries mate
@UGMD 3 жыл бұрын
Bit late = decent time in US
@maruwan-dono 3 жыл бұрын
na mate ; thanks a lot
@MikeSnitkovski 3 жыл бұрын
This was a careful and nice explanation! 10/10 would worth again
@rhwing5095 3 жыл бұрын
9:20 You know the system is fucked when a reduction of consumption is seen as a bad thing. The foundation of the entire world economic system is based on debt financing. A sad tale.
@openlink9958 3 жыл бұрын
I mean if you buy stuff with money you dont have thats a more cultural problem, and I agree Im more for small government
@nowhereman6540 3 жыл бұрын
Are you taking about consumption, or the rate of consumption? If the former, you are wrong, unless you want society to return to a pre-industrial time.
@freddie7981 3 жыл бұрын
@@nowhereman6540 yeah... i assume he means rate of consumption.
@letobabel4519 3 жыл бұрын
All economies are based on debt. Money is debt.
@rhwing5095 3 жыл бұрын
@@letobabel4519What I mean is the economy is based on _debts growing indefinitely._ I.e., keep borrowing _more_ to generate growth.
@tylerinvests 3 жыл бұрын
Inflation is the expansion of the money supply, and prices going up is the result of more money chasing few goods and drives up the price. So inflation is NOT prices going up, that is just the result.
@AftercastGames 3 жыл бұрын
Thank you for taking the time to explain this, so that I don't have to.
@TheOzembuch 3 жыл бұрын
Yes, this video is taking people on the journey through the eyes of central banks and their twisted definitions of facts.
@TheOzembuch 3 жыл бұрын
@Ksenzu No, exactly the opposite, it's important to get that right.
@TheOzembuch 3 жыл бұрын
@Ksenzu Well my friend, you need to go a little deeper and beyond Britannica, they have it wrong too. Too many revisionists and Keynesians are running around spreading this misinformation. Many times purposely to further their way of thinking about monetary issues and policies.
@TheOzembuch 3 жыл бұрын
@Ksenzu NO Sir, you just need to ignore the new changed definition of governments to serve their purpose and look at the original classic definition. schiffgold.com/wp-content/uploads/2020/08/inflation-def-768x445.png
@Quickonomics 3 жыл бұрын
The Bureau of Labor Statistics be like: "Dont skew the CPI, spend your money like nobody's watching."
@spad4728 3 жыл бұрын
I'm not an economist, but: When I buy something, the money goes from me to the store, and the item goes from the store to me. The goods move in the opposite direction of the money. All of the discussions I've heard about inflation seem to treat inflation as happening uniformly across the entire economy. But, the freshly printed money usually isn't distributed uniformly across the economy, but is instead dumped into specific sectors. It will eventually spread out until it's uniform across the economy. But, since goods and money move in the opposite directions, that means the goods get concentrated as the money spreads out. The end result is both a debased currency and an increased concentration of society's real wealth among those who were lucky enough to be the recipients of the new money (analogous to executives who get extra stock to make sure that their ownership isn't diluted). Inflation doesn't just devalue the currency, it also redistributes the real wealth of society to those who are favored by the man with the money printer. This is a knock-on effect that I don't think is generally discussed enough in the public conversation about inflation.
@susanmcallister4912 2 жыл бұрын
You talking about black people?
@AnEnderNon Жыл бұрын
@@susanmcallister4912 ?????? what
@susanmcallister4912 Жыл бұрын
@@AnEnderNon I apologize. * Afro-Americans
@FirstnameLastname-ej4kv Жыл бұрын
@@susanmcallister4912 no he's talking about JPM WF and BOA and thier share holders
@sertank735 2 жыл бұрын
“We have this crazy global economy that is based on debt and inflation.” Also, “There are these crazy people that want to balance budgets and have a balanced monetary policy in a world of runaway inflation.”
@lewis123417 Жыл бұрын
Damm fiscal conservatives wanting to ruin people's good times with restrictive monetary policy 🤣
@ddmcdono 3 жыл бұрын
@Economics Explained, you have just picked up a new subscriber due to your excellent explanation of inflation, hyper-inflation, and some of its variants. I thank you and look forward to viewing your other videos. "Two opposable fingers up"!
@abrvalg321 3 жыл бұрын
Invest into inflation, it always goes up.
@warwickeng5491 3 жыл бұрын
Those Zimbabweans know what's up
@caorusso4926 3 жыл бұрын
Stonks
@cageybee7221 3 жыл бұрын
jokes aside, you may be onto something. if you can plan for it you can make money off inflation.
@bachpham6862 3 жыл бұрын
*George Soros hyperventilating*
@NUCLEARARMAMENT 3 жыл бұрын
@Steven Moore Mansa Musa was living proof of that.
@MichaelGGarry 3 жыл бұрын
(In a near 100% employment situation): "People only leave jobs for a pay rise" - not even close to being true in the real world. People move jobs for a whole host of reasons, of which pay is only but one variable. Shitty bosses, badly ran companies, change of address, change of industry, new qualifications, new job role, better non-salary perks, the list is endless....
@MichaelGGarry 3 жыл бұрын
Also no mention of the effect of population changes to inflation either...
@W1DO 3 жыл бұрын
I only move jobs when the new employer offers better working conditions. I work from home 2 days a week permanently and can cycle to all my site meetings. Money isnt worth anything unless it can buy you a better life.
@basharlabadi1790 3 жыл бұрын
yeah that part didn't make sense to me, it also ignored the fact that people retire and graduate every year, so there is always a supply of new graduates, it's not a closed system
@AnimatedStoriesWorldwide 3 жыл бұрын
Try to change job in a 30% unemployment economy because of a "shitty boss" then we'll talk...
@writerconsidered 3 жыл бұрын
Was it a generalization? Yes. But it still holds true and half of your other reasons also have a hidden or open monetary perks. These "change of industry, new qualifications, new job role, better non-salary perks." all have some upward salary trend. Salary will also be the most important reason to move jobs but certainly not the only reason. None of which changes his argument.
@Luminousplayer 3 жыл бұрын
i randomly stumbled upon this channel but i love the delivery, great job!
@aventh1114 3 жыл бұрын
Whats weird is that we are always talking about this mental construct of what inflation is supposed to be and how to measure it etc. But when we talk about it we rarly talk about the reality that most people experience. Who here can say that their wage has increased each year according to the rate of inflation? What do I care how you call it, or what a few economists are debating about if the reality is that a large percent of the population is working at maximum capacity (working hours) but can afford less and less with each year?
@Rocio-op7ot 3 жыл бұрын
@False I like to work tough...
@vidard9863 3 жыл бұрын
Inflation is a tax on savings that allow the government to spend more money. That is all it is.
@vidard9863 3 жыл бұрын
... he just said that low unemployment was bad... I don't care if I am paying more for labor because I will be making more, and raw resources would be dropping in value. Besides that it would just make imported goods cheaper, which is what the free trade was supposed to help with. The average people everywhere wins.
@Rocio-op7ot 3 жыл бұрын
@False Eh..yes, it does, when you wrote "Nowadays the wife has to enter the workforce for the family to survive, not out of being a "free independent woman"… but out of necessity." and I just stated I do like to work. But dont worry that I got clear your position regarding taxes.
@Rocio-op7ot 3 жыл бұрын
@False Ah...Ok. Fair point.; just thought you were the typical "boomer" that complains how things were better in the past -in this case how women dont actually want to work and the majority would rather be housewives but due to the current economy. Still, I dont understand why you came with such annoyed tone. at the end of your comment. Did that touch your feelings somehow? You know, it could had just been a misunderstanding from me as in this case was...
@Gio-ym4uj 3 жыл бұрын
I wish I lived during a time when buying a house was something normal people could do. Edit: Some of you should grow an empathy bone.
@t4ntr420 3 жыл бұрын
@@_patrickst actually wages have stagnated while productivity has increased increased
@nomadMik 3 жыл бұрын
@@_patrickst If you compare average housing cost to average income, that just isn't true, at least in major Australian and US cities, especially Sydney and San Francisco. For my parents, an average house cost slightly less than an average annual salary. Now it's several times an average annual salary. Nationally, it's still over twice as much, so moving to a cheaper state doesn't really solve the problem, either. This is similarly true in the majority of the US… Seattle, Austin, New York, Portland, LA, etc. www.businessinsider.com.au/chart-australian-wages-house-prices-2018-3
@GeldorfMcleod 3 жыл бұрын
and why would buying a house; if you could do it; not benefit the economy; more than permanent austerity ; service cuts and low wages ; for the lower waged anyway.
@basspig 3 жыл бұрын
But taxes were exponentially lower back then. In 1966 my taxes were covered by 1 week of wages. Today they exceed my annual ss income.
@WellBattle6 3 жыл бұрын
basspig May I inquire were you lived to get such low taxes?
@ivanbumaschny3758 3 жыл бұрын
EE: Is hyperinflation coming? Me, who lives in Argentina: Always has been.
@BennieVredestein 3 жыл бұрын
Is it still bad over there bro? I hope not
@saniks5070 3 жыл бұрын
@@BennieVredestein it's about to get worse . Because the currency is controlled by the central bank .The dolar net reserves are negative.And to solve that problem they convert all the dollars that get into Argentina to pesos at a range of 80 to 1 ,much lower than the real value of 150 pesos per dólar. So after the conversion they use your dollars to supply the increasing demand.
@tomasfaella7499 3 жыл бұрын
@vertex2100 well, we have a burble in the dollar value, so the people buy it because "it will never go down"
@matilozano96 3 жыл бұрын
@vertex2100 We buy foreign currency, because it can only go up. It's also not advisable to deposit big quantities of USD in banks because our country has a history of using money from deposits in order to finance the central bank's deficit. In 2002 bank savings were forcibly converted to government bonds denominated in Pesos (regardless of the original currency), which was devaluating rapidly. As a result, most USD in Argentina is saved in cash today, wether in safes in banks or at homes. We don't trust the government, basically. Cars tend to go up in price, as well, so they're a good way to save value. In other words, a new car depreciates at a slower rate than the peso does. Mainly because car prices are set in USD and then converted to peso when selling.
@gonzalomorislara8858 3 жыл бұрын
@@saniks5070 Net liquid dolar reserves are negative, net reserves are still over 3000 mill, albeit perhaps not for long
@dudewaldo4 3 жыл бұрын
I feel bad for saying this but I never come away from an EE video feeling like I actually understand anything more than I did before I watched it.
@freeross371 3 жыл бұрын
Pretty complex stuff, you have to take notes and break it down like you're in a class.
@johnshellenberg2329 3 жыл бұрын
The assumption that you can only hire away employees with a raise in their salary is completely wrong, and is why companies struggle with turnover - they lack understanding of motivational theory and why people work. The idea that full employment (typically about 3.5% unemployment) is bad is a myth propagated by business interests that see any unemployment figures below 7-8% as bad - it gives too much power to labour.
@kelvinhbo 3 жыл бұрын
Good luck trying to convince people otherwise. The cult of work is worst than the cult of religion.
@hamsterbrigade 3 жыл бұрын
It's weird that so many of the "bad for the economy arguments" really only seem to map out to "good for employees and bad for businesses." Like unemployment being low. In demand employees leave/join companies for a lot more reasons than money.
@GalacticNovaOverlord 3 жыл бұрын
Yeah, it's just what hurts the elite and rich, not what actually hurts the population.
@johanliebert6734 3 жыл бұрын
AH YES it is all coming together
@EconomicsExplained 3 жыл бұрын
Kronk intensifies
@romin7255 Жыл бұрын
I love your videos man. They're as clear as such subjects can be (LOL)... and they're rather fun !
@aceausdesigns2536 3 жыл бұрын
Nice video and something I was searching.
@QuestionEverythingButWHY 3 жыл бұрын
“Don't think money does everything or you are going to end up doing everything for money.” ― Voltaire
@Grizabeebles 3 жыл бұрын
I hope I live to see the day when people stop counting the value of things in money and start counting value in terms of *calories.* Economics predates our current models of thermodynamics - there's no such thing as perpetual motion, ergo there's no such thing as perpetual growth. The key to a stable and prosperous economy is meeting everyone's needs while also reducing costs and eliminating overproduction. It's what every living thing on the planet already does.
@capitainebonhomme1609 3 жыл бұрын
Voltaire never said that Haha 😂🤣
@voxomnes9537 3 жыл бұрын
@@capitainebonhomme1609 He probably didn't.
@Booth- 3 жыл бұрын
Everything is about money, except money. Money is about power. -Gina Reignhart
@louisejoel 3 жыл бұрын
Oh but I wish I had a real garden to tend sometimes
@lucaschang689 3 жыл бұрын
I saw my name as one of the Patrons! Awesome! Thanks again Economics Explained! You are doing good work!
@Vinit.R 3 жыл бұрын
Heart goes out to the man sitting sadly on the curb at 17:32. I hope he is alright.
@veganchaatparty 3 жыл бұрын
Awesome!!! Thanks for sharing!!
@KevinButler55 3 жыл бұрын
I find it amusing how professional the "Is the money printer causing inflation" card looks at 2:47
@Dan16673 3 жыл бұрын
Lol
@ethanbrinkman7110 3 жыл бұрын
*sees video posted a second ago* Me: oh yeah time to procrastinate
@EconomicsExplained 3 жыл бұрын
We understand you have many options for your prcrastination and we would like to thank you for choosing to procrastinate with Economics Explained! We hope to see you again soon.
@markonfilms 3 жыл бұрын
One of my favorite ways to pass the day while I learn!
@aceausdesigns2536 3 жыл бұрын
Finally proud to see someone from Australia ❤️ love this video so easy to understand.
@glennh3855 3 жыл бұрын
You have a gift for explaining economic concepts in a way that people can grasp.
@chillian12 3 жыл бұрын
Great, now we all can become trillionaires and weave baskets out of money! Always wanted a Benjamin Franklin backpack!
@EconomicsExplained 3 жыл бұрын
Always look on the brightside right?
@iihamed711 3 жыл бұрын
I just finished watching a meme of the inflation of Venezuela seconds ago and I get recommended this
@heh2393 3 жыл бұрын
Enjoy your stay here!
@EconomicsExplained 3 жыл бұрын
The Google Gods are onto you!
@chivasowle286 3 жыл бұрын
The invisible hand of The Algorithm at work.
@Troublesomenights 3 жыл бұрын
Great update Andy
@michaborski7383 3 жыл бұрын
incredible, one of the best material
@cellwrkz8006 3 жыл бұрын
Love the vids keep up the work
@EconomicsExplained 3 жыл бұрын
Thanks mate will be sure you :)
@edmundthespiffing2920 3 жыл бұрын
I live in lebanon, hyperinflation is a thing since January.
@merlinthelemurian3197 3 жыл бұрын
I hope you're doing okay. I'm sure the big boom that happened there didn't help the situation
@lucianoosinaga2980 3 жыл бұрын
@@scratchsoft2347 wrong
@centerous411 3 жыл бұрын
How much dollar today?
@habibhteit6715 3 жыл бұрын
kint 3am fakker inno we should ask EE for a lebanon video
@vkray 3 жыл бұрын
Don’t worry. Only America can give you justice.
@mwbgaming28 3 жыл бұрын
The problem is when prices increase faster than wages Look at the poor bastards on centrelink, even disability pension is insufficient to pay the rent outside of government housing, now imagine living in private rental on less than $300 per week (for all household expenses)
@jevans101 3 жыл бұрын
Great video and love hearing the home twang on the www. However, noticed it on myself when I moved OS, that I didn't pronounce "properly" properly. You're in the same boat ;)
@LeRoiJojo 3 жыл бұрын
Last time I was this early, a dollar saved in the mattress was indeed a dollar saved.
@thelogicmatrix 3 жыл бұрын
It kinda sucks how things are getting more expensive but we aren't earning more
@codycast 3 жыл бұрын
Who’s “we”? I am. My employees are. Our vendors are.
@will-wowdk1930 3 жыл бұрын
@@codycast most people cant afford things
@OwenPrescott 3 жыл бұрын
Invest in things that will become more expensive over time
@Grizabeebles 3 жыл бұрын
@@OwenPrescott -- That's like telling a drowning man to "swim harder". In order to invest, you have to be able to accumulate an initial nest egg of capiital. More than 15% of workers in the U.S. are stuck working part-time jobs. About 10% of the work force were working 2 jobs before the pandemic. It's really, really _hard_ to work on your investment portfolio when you're working 60+ hours per week just to keep a roof over your head and food on the table. And before you start - if there's not enough captial to make inveatments, there's not enough capital to buy a house or go to college. It's not about skill or work ethic - it's about capable people not having inherited family wealth. If you want a system that rewards merit, make health care, housing and education human rights - life, liberty and the pursuit of happiness.
@codycast 3 жыл бұрын
william super I wouldn’t say “most”. Our biggest company challenge is still finding good people who will work. We don’t even require any special skills. Just work hard. Honest. Able to communicate. $60k to start. And can’t find people.
@youtubesucks8024 3 жыл бұрын
If inflation is bad but deflation is worse, why not keep inflation at 0?
@johnhunt5089 3 жыл бұрын
"All we can do in the meantime is hope that this future is managed carefully, and make sure that we plan around this new reality" In other words, we're doomed
@MPlain 3 жыл бұрын
Trekonomics. No money is the future. We don't need it.
@carlosfuentes9506 3 жыл бұрын
I just watched your video on the history of global banking, and I’m in shock. Please talk more about the 2nd half of that video and about Dr. Richard Werner!
@darknecropsy 3 жыл бұрын
“inflation is good” says the wealthy economist while your average joe can hardly make it to next month and is a hospital visit away from ruin while everything around him is getting more and more expensive...
@MikeSnitkovski 3 жыл бұрын
I don't understand... if you are poor, just stop being poor... /sarcasm
@caorusso4926 3 жыл бұрын
lol just buy cake lmai
@NagorbMan 3 жыл бұрын
Yeah, Inflation is good for banks and rich people who have money in assets. Its also great for people who are up to their eyeballs in debt (like every government). For everyone else its at best neutral assuming their inflation adjusted wages are the same for the same amount of work, and more likely they're just losing money. The real suckers are the people who are responsible and save their money and don't spend more than they have.
@sebas8225 3 жыл бұрын
The rich part is that when the average joe wants to invest, it usually ends in a scam or a robbery, where the bank gets away with it case State money print, etc...
@thegypsy8779 3 жыл бұрын
@@NagorbMan Those people better wake up and buy some stocks, silver, and gold
@loc1123 3 жыл бұрын
"hyperinflation = game over for the economy" Argentina: ha! i can do this forever. *introduces a new currency for the 4th time in like 50 years.
@RWAfuture 3 жыл бұрын
Today it's not about return ON capital. Today it is about return OF capital.
@tims9376 3 жыл бұрын
What does this mean?
@wecsam 3 жыл бұрын
9:35: "Why buy a Toyota Camry this year if that same money could buy a BMW next year?" **Scotty Kilmer has entered the chat.**
@michaelhunsinger8351 3 жыл бұрын
Scotty: "don't ever buy a BMW they are endless money pits"
@craigcarter400 3 жыл бұрын
In that example it would be better to buy the Camry and invest the difference.
@applehotful 3 жыл бұрын
Lol
@gemmrk 3 жыл бұрын
Scotty is awesome
@tariqueanwarmulla 3 жыл бұрын
So me being unemployed is helping my country 😀
@McRemmyBaby 3 жыл бұрын
Yessssss
@tariqueanwarmulla 3 жыл бұрын
@@McRemmyBaby sadly I am not helping my country anymore 🥲😂
@TheSwedishHistorian Жыл бұрын
@@tariqueanwarmulla 😢
@ASMRSilentStocks 3 жыл бұрын
great video, thanks for putting the information in a clear and enjoyable video 👍👍 I see a lot of taxation coming, also I think inflation numbers are skewed however I dont want to come off as some major conspiracy person.
@christopherweston6028 3 жыл бұрын
Really good, TY
@charlieross6866 3 жыл бұрын
Reminds me of the Good Place: of course, the opposite is also true, and precedes to make a whole new argument.
@EconomicsExplained 3 жыл бұрын
Haha well the good place was certainly entertaining.
@whateverllllllllllll 3 жыл бұрын
Thanks for another intersting video. However, I feel you missed two important points related to inflation. First, the issue of sticky wages. The second, how inflation benefits those that that have access to credit or assets which increase in value as the money supply increases. Both tend to increase wealth inequality..
@freckrpeckr 3 жыл бұрын
Nice video, but I would have mentioned how house prices (the main cost for households) isn’t included in the CPI, also how the substitution of good works in estimating inflation and how this can downplay inflation, and finally how technological forces, especially going forward, can easily contribute to price deflation. Thoughts? Cheers.
@christopherweston6028 3 жыл бұрын
I'm curious how automation will effect these systems and if traditional responses to the fluctuation of indicators will keep the system in balance.
@redhidinghood9337 3 жыл бұрын
When will we see "Economics of Economics Explained"?
@vilimcvenk1323 3 жыл бұрын
he made it already
@redhidinghood9337 3 жыл бұрын
@@vilimcvenk1323 where?
@beastyms 3 жыл бұрын
Can you do a video "What if there was no inflation or deflation" What kind of benefits and disadvantages would such an economy have.
@Jack-sq6xb 3 жыл бұрын
Uhh is that even possible, like wouldnt the economy just break? Il not an economist so i could be wrong but the economy would just grind to a halt
@MikeSnitkovski 3 жыл бұрын
any precise value like 10 or 3 or 0 is impossible to achieve in the first place even in full command economy it will be a "paper value" that only exists in reports
@garethbaus5471 3 жыл бұрын
It would be incredibly difficult to get 0% inflation, but the consistancy might make life simpler, definitely an interesting concept.
@capnbilll2913 3 жыл бұрын
Stability. And far less government power.
@WaviestMetal 3 жыл бұрын
I'm studying economics so this is actually something I know instead of the wild speculation I have been seeing in this comment section. No inflation or deflation would mean the economy itself is in completely steady state. To achieve this, the amount of people operating within the economic system would have to remain constant, as would the currency in circulation, as would the amount of producers operating within the system. Even something as simple as population growth can entirely destabilize this equation, meaning it's never realistically possible to achieve in the real world unless human immortality becomes a thing. An economy is "alive" in a way, it is always in a constant state of flux because it involves the exchange of goods and currency... well across the entire globe at this point. There are far too many actors involved for it to ever remain truly stable.
@mannyespinola 3 жыл бұрын
Thank you for this video
@AndyLambg 3 жыл бұрын
Thk for this video liked n subd
@brunorohden7413 3 жыл бұрын
The original definition of Inflation is the expansion of money supply, while the increase of price levels are its result. The definition has been changed to benefit the government, as the expansion of the money supply is the government falt, the overall increase of price levels are the capitalism fault.
@sebas8225 3 жыл бұрын
Socialize the losses, privatize the gains, how the rich get richer and the poor get poorer.
@chillinchum 3 жыл бұрын
How did you come to these conclusions?
@brunorohden7413 3 жыл бұрын
Some study, look for the old definition of inflation, you will be able to find on old dictionaries if you access to those. From that point on you will need some research, if I'm not mistaken Rothbard wrote something about it, but the objective behind changing the definition was never explicit, nor could it be, with some common sense you will reach it.
@Tate.TopG. 3 жыл бұрын
@@brunorohden7413 wow, I didn't know anything about it. We are getting played by the system.
@QoraxAudio Жыл бұрын
@@brunorohden7413 That's not an old definition. That is the definition of inflation. But people often confuse lower value of money with higher prices of products, since they tend to be inversely proportional to each other.
@pinned.byjohnmichaelgodier1726 3 жыл бұрын
A financial crisis is a great time for professional investors and a horrible time for average ones. Think deep..
@BBC.... 3 жыл бұрын
@Adrian Henry Which is the best asset to invest? I want to know.
@pnnedbyRabbiSimonJacobson 3 жыл бұрын
Gold or bitcoin
@user-vv2rm1oe9w 3 жыл бұрын
@@pnnedbyRabbiSimonJacobson Gold is physical, Bitcoin is digital and has strong cryptography. Bitcoin is the new digital gold
@cryptocapitalventure6096 3 жыл бұрын
Don't see bitcoin investment as a risk, in every success there is always a risk, the ability to take those risk makes you successful.
@thinkmedia5705 3 жыл бұрын
The recent trend is the fact that crypto currency traders can never be poor. Thats always my motivation
@WhatIfTrayvonMartinHadAGun Жыл бұрын
2 years later, it would be a great time for a new video on this topic...
@gerrih3483 3 жыл бұрын
Phenomenal channel!
@armin1048 3 жыл бұрын
11:10 Would you perhaps make video on the minimum wage? Seeing as economists are usually against price controls, and a minimum wage is basically a price control on labor, I would be interested in your take. Milton Friedman had a lot to say about that, too ;)
@analcommando1124 3 жыл бұрын
Milton Friedman was an evil little dwarf who perpetuated an economic scam.
@slurpii4669 2 жыл бұрын
Mixed economies work better than traditional capitalism, you just need to compare us to Scandinavia, funny thing is that Scandinavian countries apply restrictions to everything except the minimum wage
@marcusw4107 3 жыл бұрын
" This videoes sponsor is you" meanwhile i get four commercials in this video 🤣
@Tmrfe0962 3 жыл бұрын
So interesting, thank you...
@storminmormin14 3 жыл бұрын
I also wish you had addressed the problem of reserve currency dumps that come along with a lack of faith in a currency.
@richdobbs6595 3 жыл бұрын
As somebody with a bit of exposure to Austrian economics, I do not endorse this message. I like the AE definition of inflation better: Inflation is a general increase in the money supply. CPI is a kludgy estimate of the effect of inflation for a particular part of society. In particular, it is subject to Goodhart's law: "When a measure becomes a target, it ceases to be a good measure." For those folks that will eventually retire, it is idiotic to ignore the increase of share prices that is driven by increasing the money supply. For somebody actually paying for things, it is pretty clear that CPI is a poor government joke. Food, healthcare, education, housing... They're all gamed in the CPI. That said, since the purpose of the current inflation is to prevent the collapse of stock prices, it seems unlikely that it will be lead to lead to hyperinflation. Instead, it will be managed to lead to a controlled increase of prices in the stock market, for the benefit of a shrinking number of folks that meaningfully participate in the stock market, with the net effect of collecting in assets from victims to the beneficiaries. Hyperinflation won't happen in the USA as long as the system keeps at least 10 carrier groups functional.
@thewhitefalcon8539 2 жыл бұрын
"Inflation is an increase in the money supply" is a useless definition. We have a term for an increase in the money supply. It's called an increase in the money supply. It doesn't need another name.
@freddyfx231 3 жыл бұрын
- Everyone: Money printer go brrrr - Me in Venezuela: Isn't that the default state?
@richdobbs6595 3 жыл бұрын
Since this situation seems to persist, I'm guessing that little of the economy is actually carried out in Bolivars. It doesn't seem like Venezuela is going through the uninterrupted exponential growth that Zimbabwe and Weimar Germany went through. I'm curious, fill me in!
@wigglebot2368 3 жыл бұрын
How do you store cash in Venezuela?
@freddyfx231 3 жыл бұрын
@@richdobbs6595 Actually I don't know how much of the economy goes in actual Dollars I'm guessing a lot, but even if the majority of us still use Bolivars its just to facilitate the trade but prices are set in Dollars, we have the government's official exchange rate and the not so official varius exchange rates of the black market, the saddest part of it all is that much of the economy it's "Dolarized" but the vast majority of the people don't have access to Dollars or even some meaningful equivalent in Bolivars, there are the cryptocurrencies and services like airtm, paypal or payoneer too they facilitate trade and for those who can enables some sort of savings anything is better than have mountains of Bolivars
@freddyfx231 3 жыл бұрын
@@wigglebot2368 if you're lucky enough to keep some of the Dollars in circulation that's a way but that's a little minority, usually via cryptocurrencies o services like paypal, payoneer or airtm, but most people just barely make enough to get by so there isn't much going to savings any way
@Mythhammer 3 жыл бұрын
@@wigglebot2368 Dump trucks?...
@vicencalbets612 3 жыл бұрын
Deflation has always been said to be bad because it is very bad if you own money, but it's very positive if you have money. Now ask yourselve who has the more debt in a country and who has the more savings. Yep, the goverment has the more debt and the ordinary people has the more savings so, why do you think inflation is said to be good? and deflation is said to be bad?
@lesliehorwinkle 3 жыл бұрын
Knocking off a zero hurts more but keeps everyone in sight of what's going on.
@MardukGKoB 3 жыл бұрын
Ten years ago, Arby's used to have special offers of five sandwiches for five dollars. Today, the equivalent special deal is two sandwiches for six dollars. That sounds like prices have tripled. But if you look at the official measure of inflation, which in the US is not based on consumer purchases, you'll see that it comes nowhere near the actual increase in price. My grocery spending has roughly doubled in the last three years. Not reflected in the official inflation rate. I say, bring on the inflation - inflation is good for debtors and bad for creditors. In the current circumstances, almost anything that is bad for creditors is good for the economy. Also, what increase in unemployment payments? Not many people actually got that extra money, and a lot of people were even denied the ordinary level of unemployment. I know three people who lost their jobs, all qualified for unemployment and the extra money, only one actually got unemployment at all and he didn't get the extra amount. The "stimulus" was just another big corporate welfare program, designed to cripple the economy. It's looking like starvation will break into the top ten causes of death in the US this year, and maybe top three next year. It was 44th in 2017, according to the CDC (it's called malnutrition there).
@EckosamaGhostTsushima 3 жыл бұрын
hyperinflation is already her- money printer go *brrrrrrr*
@tropicalpnch4549 3 жыл бұрын
I'm a new sub to your channel so I'm still looking to see if this was already answered in a different video of yours, but I'm really curious to know how economics are impacted if consumer staples like basic food, water, housing and clothing were no longer scarce and everyone had enough somehow (hypothetically, just for the sake of thinking about this.) Would the consumption of above-basic goods and luxury goods keep things stable? Would there be a net benefit from eliminating scarcity of these things in regards to the economy? Anyway, keep up the great work on this channel!!
@markhill1066 3 жыл бұрын
At 6:30 he's describing something called the Hawthorne effect. Its where the behavior of a subject changes when it knows its being watched. Also relevant to the trend in worker surveillance as remote work picks up. Id be interested to know if there's any economic data correlating employer trust with worker productivity?
@Sanjayd1998 3 жыл бұрын
5:34 I think you meant "Heisenberg's" consumer price index haha
@ftlengineer 3 жыл бұрын
The thing with inflation; it is a form of entropy. If going from inflationary to deflationary will cause problems, so will going from high inflation to low inflation. The rate of inflation is a ratchet which does not naturally decrease. For this reason, I am concerned that once inflation does catch up (and it must; the money pool is increased and the amount of goods and services produced are down) that the inflation rate will never be able to return to a healthy level. 50% inflation per month? Probably not beyond one month, anyway. But we could wind up trapped in the 10% per year range, and that would likely force stagflation. Ultimately, I do not find the arguments against deflationary policies convincing. Sure, going from inflation to deflation causes problems, but fundamentally it just encourages different behavior. An inflationary economy encourages borrowing, deflationary encourages saving. I prefer deflationary because saving is a fundamentally healthier norm behavior than borrowing, but either of them will have problems if you exceed the 5% per year range.
@hadynharris494 3 жыл бұрын
surely governments will increase taxes when things get back to normal to remove excess money from circulation?
@JOCoStudio1 3 жыл бұрын
@@hadynharris494 Yeah, but you can't expect them to increase taxes in the right places so it will still disproportionatly affect the poor in a big way.
@whitesquirrel4131 3 жыл бұрын
It's funny because none of the money is backed by anything, just slave notes. Sounds smart though. I hope you were well educated on the scam. Life is a circus, the rich are the carnies, and you rubes are the suckers born every minute.
@ieuanmartin7845 3 жыл бұрын
It's true but deflation and increased savings severely slows down the economy. Look at Japan. The Japanese Government have had to spend huge amounts to prop up the economy due to the fall in domestic demand
@tylerbrown4483 2 жыл бұрын
Wow. Almost all of that was treacherously wrong.
@glenngilbert7390 2 жыл бұрын
Thank you!
@Rob-fx2dw 3 жыл бұрын
It is absolute B. S. to say nobody is going to leave their work unless they get a pay increase . People leave employement for a variety of reasons including wanting reduced working hours or more suitable work hours, wanting to relocate for family reasons , relocating for health reasons, relocating for lifestyle reasons and many more factors.
@menguardingtheirownwallets6791 3 жыл бұрын
The price of food is rising at 15% per year, but the government says that inflation is only 1%. Yeah, right.
@ashthegreat1 3 жыл бұрын
And house prices going up 10% year on year sounds a whole lot like inflation too.... but let’s not include that everyday expense in the calculation. Gets in the way of the statistical ‘narrative’. Definite oxymoron there right?
@jamesholt7340 3 жыл бұрын
I've seen no increase in the price of food,maybe exotic fruit but a gallon of milk is only $2.30 ,same for the last 15 years...gas is only $2 a gallon compared to $4 10 years ago
@DumbledoreMcCracken 3 жыл бұрын
@@jamesholt7340 agree. There can be no PRICE inflation without WAGE inflation. The median income is flat or declining. Millionaires have to pay at lot more for luxuries, like Hypercars. But those are discretionary purchases. Things people must buy can't go up if people don't have more money.
@iWambo 3 жыл бұрын
DumbledoreMcCracken the statement there can be no price inflation without wage inflation is not true. Idk where you got that idea. Wage inflation can be a cause of price inflation but without wage inflation, tax inflation will also causes price inflation.
@DumbledoreMcCracken 3 жыл бұрын
@@iWambo where did you get that idea? My statement is relatively well known if not popular in economics.
@dekyl935 3 жыл бұрын
'inflation is something take for granted these days' laughs in greek 'deflation is worse than inflation' cries in greek
@tinyrye Жыл бұрын
Thanks!
@user-je3pv9cg3x 3 жыл бұрын
Now that you mentioned gold, i would like you to make a video about the economics of precious metals and why is gold seen by many as the absolute wealth?
@alysonbritta4312 3 жыл бұрын
stock has a relatively high short interest. there recent earnings report was way better than expected. I think they may also see high short term gains.
@smolmanager3511 3 жыл бұрын
How do you reposition your stocks to be more profitable, do you manually pick them?
@hweigel528 3 жыл бұрын
I still don't understand why "wage inflation" is so bad (15:31) according to conventional wisdom. Worker productivity rose over the past several decades, so shouldn't we expect/promote a proportional amount of wage inflation? Maybe I'm just a center-left armchair economist, but it seems like the fiscal policies which "defend against" wage inflation exacerbate income and wealth inequality.
@richdobbs6595 3 жыл бұрын
Stock price inflation is good. House asset inflation is good. Education inflation is acceptable, because we need an educated workforce. Healthcare inflation can't be argued against or you want to people to die. Wage inflation is apparently "real inflation".
@Arhpeco 3 жыл бұрын
I woud also prefer more in deph explanation or real world example. More money (to a point) might lead to less workhours, less burnout, greater satisfaction, better productivity and more spending (simmilar to german or french economy) building a fundation for strong middle class that coud afford paying a little more for produced goods.
@richardallen1555 3 жыл бұрын
It’s all about comparisons if you inflate all wages costs equally you haven’t actually payed people more value you just increased the number
@hweigel528 3 жыл бұрын
@@richardallen1555 Not necessarily! As the video discusses, the "Consumer Price Index" is the main metric used to measure the harmful effects of inflation. As far as I know, there's no law which says that CPI and wage inflation MUST be highly correlated. Most goods are price-sensitive, they won't get more expensive just because consumers have more money. If I understand correctly, the typical argument goes: "Well if wages rise then companies will have to spend more on labor, so they will be FORCED to raise prices." But large companies have saved record amounts of liquid assets and spent record amounts on unnecessary buybacks in recent years. So I don't think this is a legitimate argument either.
@ritwikreddy5670 3 жыл бұрын
@@hweigel528 "Most goods are price sensitive, they won't get more expensive just because consumers have more money". That's where you may be wrong. Most goods are price sensitive, and that's why they get more expensive as consumers have more money. If consumers have more money, then the value of the money vs their time and comfort decreases. They would want more goods since they have better value to price ratio now( essentially like buying an item on sale). And since most productions have very little flexibility in volume of goods produced, the output of goods remains almost constant ( unless there is a technology breakthrough that enables better production). This drives the demand up driving the prices up. It definitely won't cancel out the effect of increase in wages if the goods output remains constant or increasing, but if output is decreasing like now, it may.
@West_Anderson 2 жыл бұрын
I feel like a follow up to this video being that it's now a year later, would be fantastic.
@benevolent6705 3 жыл бұрын
You sir make great content
@dannydaw59 3 жыл бұрын
When there's deflation people are still going to buy what they need like food, utilities, gas. They're not going to wait to buy those things they need.
@varghen0 3 жыл бұрын
Exactly. And nowadays (with inflation), people don't hoard food, utilities and gas fearing they will be more expensive the next year. Small inflation and deflation doesn't make people care about that.
@ChaotikmindSrc 3 жыл бұрын
That thing about deflation being so terrible is bullshit, we have seen no country dying of deflation, on the opposite there are plenty of inflation catastrophic exemples.
@bonbi16 3 жыл бұрын
@Chaotikmind bc deflation is less likely to happen
@ChaotikmindSrc 3 жыл бұрын
@@bonbi16 That's kind of a moot argument, since gov always push for an inflationary system...
@ChaotikmindSrc 3 жыл бұрын
@@bonbi16 And btw a lot of economist disagree with that
@redmeat4vegans62 3 жыл бұрын
Blast from the past - Stagflation. But my experience of what was happening in America in the late '70s and the brief explanation you gave of stagflation do not add up to me. And it is likely because I need for you to do an excellent explanation for what happened to the US economy in the '70s. Could you please, please do a video of the US economy of the '70s?
@caorusso4926 3 жыл бұрын
People that don't experience stagflation will never understand, same thing with hunger
@cageybee7221 3 жыл бұрын
Tl;DR the 70's suffered stagflation because of a fuel shortage that dampened economic growth while boosting up prices, combined with a recent abandonment of the gold standard that spiked inflation.
@cageybee7221 3 жыл бұрын
@Liberty Meister I would also throw in *Kapital volumes 1-3*
@cageybee7221 3 жыл бұрын
@Liberty Meister ah so you only read economics books that agree with your politics. shoulda just started with "i'm a hack" and let us all know to ignore you.
@garethjones909 2 жыл бұрын
It would be interesting if you guys also made some videos on what advice you would give to leader or governments to improve their economies. A video per country, the breakdowns you do for different countries is already very interesting
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