I haven't finished the video yet, but wouldn't wages going up along with everything else kinda defeat the purpose ?

@@Smaltese93 What exactly do you mean by "everything else"? They don't necessarily address what you're asking in the video. Wages going up doesn't defeat the purpose of inflation though, because it's not a 1:1 ratio. You don't have to increase a wage by $1 for every $1 you raise the price of a good by. This is one of many reasons.

To be clear I mean. We just raised minimum wage to $15 hr Rent, food, gas, utilities also increase in price. The COL increased just as minimum wage did. So it defeats the point of raising the minimum wage. Especially if you made above $15 but not too much more. Those people really got screwed

@@Smaltese93 You're oversimplifying it, to the point where I believe you're incorrect. The video does too, and I believe the "wage-price conundrum" they describe is also not a real issue. They also say that that issue is definitely not occurring right now, regardless. "The COL increased just as minimum wage did." This has honestly never been the case, at least with the USA. An employee provides more than $1 of value per $1 of salary they earn, otherwise none of this whole employee vs employer thing would really work. Therefore, whatever COLA needs to be made shouldn't be bigger than the increased minimum wage, assuming it was raised the proper amount and not too much or too little. As for the other part of what you said, yes, poorer people always get screwed in a capitalistic society.

6:04 that’s why they gave the wage-price conundrum.

Various reasons for 2021. To put it bluntly. 1) most significant factor is governments printing massive amounts of artificial demand and killing off supply through shutdown of economy 2) big businesses let go of many workers, an opportunity to fire their least unproductive people 3) workers that worked throughout the 'rona were most likely more productive and driven, they took on the laid off people's work I have seen this play out anecdotally and speaking with other people. Obviously not the case everywhere but I suspect it's not just me. Artificially high demand + low supply of goods/services is inflationary. At my job, many managers were demoted and some office job people were let go/reduced hours to Work From Home/replaced by automated programs. The workers that stayed took on the extra work. Add it up altogether and you get record profits.

I hope businesses recognize their profits this year and payout accordingly, especially to their workers that took on the extra work. That being said I think some businesses know that government is going to stop the gravy train so they don't feel confident in hiring just about any person/raising starting wages.

Take a look at every time the phrase "We're from the government and here to help." When the government started guaranteeing home loans builders and lenders no longer had an incentive to keep costs reasonable so people could afford it. When the government started guaranteeing school loans tuition started to increase rapidly because schools no longer had an incentive to keep costs low. Anything that the government has a guarantee program will always outpace inflation. It's guaranteed so lenders will loan people who shouldn't probably have a loan and builders will inflate costs because those loans will be easily more. Schools will inflate tuition and build name buildings after people just because and spend more on an athletic stadium than ensuring students get a quality education.

@@mrdonetx +1 agreed. Almost everything the government touches eventually turns to 💩.

@@AbrahamsYTC Not to mention that COVID has sped up automation of the workforce

It better be back on the next video!!

He’s the only one who can rock that stache.

Unpopular opinion: the cookie part of the Oreo is the best part.

I screamed NOOOO and then threw my TV out the window

Lol all I can think is he looks like a teenager now!

LMFAO! Me neither!

I definitely noticed….. the porn stache….

Did you notice the ink on his elbo?

@@501mbm talking about the guy from orange is the new black??

You didn't notice because it's NOT THERE

Thats crazy, where do people invest if they have anything left after their monthly expenses?

@@dennisnoone7427 We buy dollars jajaja, and stuff that doesn't devalues so quickly. Im just saving to eventually get the f.. out of here. But every month we can buy less dollars because the salaries don't adjust ass quickly with so much inflation.

Sorry for the bad English

America is morphing into Venezuela 2.0

@@pabloolivero2783 You Argentinos are the next Venezuela of South America.

They sure did ignore it though. Didn't mention it once... what does that tell you about what they said instead?

Basically they were handed the accepted narrative talking points and rolled with it

lol, its PBS...

heehee money printer go BRRR

@@bumponlog BRRRRRRRRRRRRR!!!

Exactly! They should react to your comment. Good mark!

Bingo!

Agree

This was a horrible "overall" cover of the issue at hand. They never showed any charts of the Federal Reserve's trillions of dollars of money printing. Zero mention of QE/Fed asset purchases that are in the trillions. It's almost like they're hiding it to keep you all as deluded slaves.

^ it is strange to say on the positive and the topic is about an increase in cost during a 2 year pandemic. Very flighty assumption to make.

Right? Businesses couldn't even get away with paying minimum wage if food stamps didn't exist because nobody would be able to feed themselves on these wages

Yeah no theyre right, consumer spending has gone up every single quarter this year.

Prices stay high if traffic dont mind paying the high price. but it gonna get cheaper if u buy the cheaper brand to save anytime.

@@cable30 people need to eat food and literally everything, including the cheapest stuff available, is getting more expensive faster than anyone's wages are increasing.

Agree. The U.S. has to be careful not to let inflation run rampant. Petroleum prices in kazakhstan nearly doubled in a month and to put it lightly their citizens didn’t take to lightly to it. The horrible political environment played a part too but the price increase was the breaking point.

That has no impact, ignore the tiny hat behind the curtain. They don't need your permission to do it, you don't need theirs.

Inflation is always and everywhere a monetary phenomenon - Millions on Friedman

First, the FED changed their definition of M1 which made the change in ‘money supply’ seem much more drastic than realty. Second, ‘money supply’ alone doesn’t necessarily affect prices, money supply + the velocity of money affects prices (in a time when people aren’t spending their money ie pandemic, more cash is needed to keep up the same amount of economic activity).

Money printer goes BRRRRR!

It's been great to see more and more people understanding the concept of #InflationTax the last year and a half. When the government creates new money out of thin air, the value of the new money comes from taking a little value out of every dollar that existed already. The federal reserve is STEALING from everyone, especially those who are money savers, or that live on a fixed income.

Much of that money is actually transitory. The Fed prints money to buy bonds during bad times, and then they sell the bond during good times and takes the money out of circulation.

This channel’s Authors are super liberal apparently but everyone with common sense knows Joe Biden is the #1 cause of the cost of living rising. I hate to say it but some rich investors don’t mind because their asset values will rise. I don’t wanna screw over America tho

@@charlesg7926 Joe Biden is just one person in the enormous machine. On top of that every administration has only made minor tweaks to the formula for as long as I've been alive. It's just their media presentation that the last two presidents mostly differ, which of course, is what the media focuses on and pretends it represents actual policy.

Ya, this is some classic texas conservative propaganda

Most awesome thing I read all day Bro!!! both the mustache missing and recognizing neutral and fact based econmic commentray. good times

The video was full of incorrect or misleading info. For example, it said that there are things that the Federal Reserve can do to "fight inflation", without making people understand that the Federal Reserve itself is the cause of inflation. A better word for inflation is dilution. As the Federal Reserve prints more money out of thin air it dilutes the value of the currently existing money. The Fed has been printing money like crazy during covid. Economies that depend on the dollar have seen their prices go up as well because of this. The Politically Incorrect Guide to Capitalism by Robert Murphy: "The government is always quick to transfer the blame for inflation onto someone else; unions, greedy businessmen, and Arab oil tycoons are all suitable scapegoats. Yet these groups can at best raise particular prices, not prices in general. If Americans have to spend more on gasoline, that leaves less money to spend on burgers and sneakers. In order to raise prices in general, the government must print more money. "As Friedman and other economists have documented in countries from Brazil to interwar Germany to Soviet Russia, and from different time periods going back to ancient China, price inflation is always and everywhere a monetary phenomenon."

"Claims that presidents are responsible for overpriced chicken" hahahahaha I laughed so hard at that😆😆😆

Hmm…I don’t know about “solid facts”. More like analysis backed up by data.

#LGB!!!

prices don't come down... inflation is a regressive tax that hurts the poor the most.

@@stachowi That's my point. The majority of people, not just here, are pushing that don't worry, inflation is going down. Although that may be true the prices will not be coming down, the fed will not allow it as this will be viewed as deflationary even though it would be the prices would be settling down the properly. They would be pumping stimulus into the economy to prevent the "deflation". Either way, the common person is screwed in this fashion.

@@mro2352 yup, because they know the uneducated won't know why it's happening, those with assets (the rich) will only get richer.

@@mro2352 Low (0-3%) rate of inflation encourages economic growth. Companies grow faster with low interest debt. The wealthy must invest in assets to preserve their wealth or it will be eroded by inflation. Economic activity stagnates under deflation. Hoarding money becomes the winning strategy. Savers get higher interest rates yes, but borrowers will be driven out of business. Companies cut expenses to preserve cash. The wealthy grow richer as their cash reserves increase in value risk-free! Meanwhile normal people lose work and spend what little cash they have to survive, missing out on value appreciation.

@@stachowi To summarize my long-winded rebuttal: Take a course in economics. Deflation discourages economic activity by rewarding cash hoarding. Inflation encourages growth by rewarding business ventures and investment.

😂😂😂😂😂😂 good luck hoping that’ll happen

Yep everything went up with like %30, the wage remains the same..

Yeah I don't think we ever need to fear the wage price spiral.

Amen !

@@olandir I would disagree. Maybe not get more money for your current job, but leaving a job for a higher paying job...

One, you're forgetting about unemployment. Often, boosted unemployment paid more than working at McDonald's. I know plenty of people who were able to save money while that was going on

They did a previous video on inflation and failed to give the Federal Reserve credit for inflation by creating massive amounts of new money. It’s almost as if they are intentionally leaving it out…but a youtube channel targeted at young audiences and publicly funded through PBS couldn’t possibly be misleading us on purpose… Although thinking they accidentally left it out pretty much completely discredits them, so I don’t know which is worse.

Nice. What state are you in?

@@brooklyn3299 Georgia

Corps do alot for their own gain and why some or many hate corps cause of greed anytime.

Classic example Kellogg's

Employees are free to start their own companies, yes? Why don't they? Possibly because running a company is extremely difficult. If a job is extremely difficult, it is likely to pay more than a job that doesn't require much skill, intelligence, or risk.

the federal reserve is a business like any other. trying to get their piece of the honest tax payer through a government that supports business profit over peoples wellbeing. "too big to fail", subsidies on big commodities like meat. also, "out of thin air"... you know we run on FIAT right? moneys been printed from thin air since we got off any standard.

This is nothing new. This has been happening since 2008. On top of that the fact that fractional reserve banking continues to exist and inflation wasn't a problem before tells you that just printing money alone, does not affect inflation that much, but is the mixture of multiple factors.

@@Andre-qo5ek the federal reserve is like any other CRONY business, but not like a normal business. And while the dollar has been fiat since the early 70s, the rate of new currency creation in the last 2 years has accelerated far beyond anything previous to it.

@kiran Indonesia

how often do wage increases match or exceed inflation rates for you? (i for one have never received a yearly wage increase that even matched inflation rates for the year)

@@Andre-qo5ek My raises have exceeded inflation every year of my adult life. How was your last performance evaluation?

@@penultimateh766 that's great to hear your success. my performance evaluations are always excellent, bosses are just cheap it seems. to get "raises" i have always just found jobs that are willing to pay me wages closer to livable.(still not at livable). employers i am considering leaving never counter offer when i bring them my resignation considerations. this is why i always scoff at quotes from business owners that say "people now-a-days just don't put in the work ethic" ... my experience has always been that business owners don't want to share profits gained from our work. call them bad apple employers, that they don't represent the whole... but one bad apple can spoil the barrel. cherry picked good examples do not negate the instances of bad actors. unfortunately i do not know what a solution would be besides a philosophical moral and ethical paradigm shift of the business class to respect their employees.

@@Andre-qo5ek I have worked a number of places also, and the increases have held true. Maybe it's something with the type of job you are going for, or your way of asking for a raise.

85% of US population thinks inflation has nothing to do with money printing lol They are parroting that :))))

Lol right? He went from dad to hunk in 2 seconds

Mark Roper’s bro

I think the 90% figure is off, but they did kind of miss the point of belt created fiat currencies flooding into the market. I heard its more like 40% since about April of 2020.

Get a job and buy Crypto

He would be broke now, if he listened to you

Really at least. I would even say like 10 years. 30 vs 40. Really shows what a weird thing a mustache is 😂

In a savings account that pays you an interest rate equal or higher than the average annual inflation percentage.

crypto

Invest it in REITs

Index fund. It's a no-brainer

Regardless of pandemic or not, inflation will always eat at the value of the dollar due to an ever growing economy. Best bets to prevent losing value would be to invest it in a safe investments with higher rates than inflation like index funds, stable stocks like apple that outperform the market, or even a bit riskier like cryptos like Bitcoin or ethereum which many use to hedge inflation. Still recommend having a good amount in savings just in case an emergency occurs, cause you’ll never know when you’ll need it!

YES! it's actually a tax on everyone, but it's a regressive tax that hurts the poor the most. #InflationTax

Nah we will bounce back

@@unfairsanic5089 just buy bitcoin and chill.

In a currency reliant on usury, inflation is a feature, not a bug. Let civilization fall and build anew.

“Not temporary” in which way? Will the prices go back to where they were before, and a +5% will be negated by a future -5%? Not likely. But will the 5% will go back to the regular 2% once the supply-chain disruptions are over? Yes. You can check all price increases, and you will find a specific issue causing it, other than “too much money on the market”. So yes, this is still transitory, but it doesn’t mean that the inflation which has already happened will be reversed. Only further price increases will be stopped. Of course the pandemic needs to stop first…

@@SimGunther glad to hear someone else is talking about usury. people don't always seem to grasp this.

#InflationTax is theft!

Idk what video you were watching, but that is all touched on in the video. A little harsh too

@@alyssaoneill3070 They didn't say that it's the governments fault and they didn't talk about monetary inflation like printing too much and fucking up the dollar

no video unless ten hours long and OMNISCIENT could cover every cause of inflation...and obviously people just mean "you didnt talk about my pet inflation cause i blame everything on" lollll

#InflationTax

I am really hoping you're not referring to a USD when you say "bucks"

@@darkdudironaji No I'm not from the US

@@justahumanwithamask4089 I understood that. But not knowing where you're from, I'm not sure what "bucks" means to you.

Suggestion- use the word CREATION not PRINTING, because the newly created currency is just typed into a computer then given to their friends in banks and other similar organizations. And the value in the newly created currency is STOLEN by devaluing each dollar that already existed. #InflationTax

How ethical of you.

Legal in what sense? I doubt they’d do a legal video if it resembles anything close to or can ever be misinterpreted as legal advice.

@@anascoinquest1121 business & startup videos . Yeah, that wasn't a great suggestion. But i was also rlly tired lmao 🤣

Nothing funded by PBS will set you up for financial success. If you’re transferring to a cheaper community college and finding ways to make college cheaper (ie used books) you’re off to a good start! Look for scholarships and jobs that pay tuition (like Amazon, Starbucks and McDonald’s) and follow personal financial gurus like dave Ramsey.

The costs are high because JOE BIDEN is printing tons of money. When money is printed it reduces the value of the dollar… which naturally causes prices to rise. BIDEN is the problem, and I’m tired of pretending he’s not

Businesses main and only goal is to make money. If they increase how much they give to the workers, they raise prices to make up for it. If workers want higher wages they should get more educated, shop around to different employers, and become more effective workers. Demanding that companies should pay people more than they have to because they can afford to is like demanding that Americans pay more for items because they can afford to.

Walmart's profit margins are incredibly low. If they were to raise wages without hiking prices, they would go bankrupt super quickly.

@@nadie8093 I suppose it depends on the industry. I can understand that some places would have to raise prices to keep up, but other places are just pocketing the extra.

Greed is destroying America

Agreed - this seemed like forced ignorance or intentionally leaving it out to shift conversation away from rampant money supply and government

Would add that unemployment fraud has been insane

They are sponsored by PBS. They aren’t won’t say anything that put the government in a bad light whatsoever.

I'd be curious what field you were in to not get any sort of raise in 8 years. Regardless, you should take the initiate and move to a different company if this is truly the case.

Because these guys support the establishment they will never mention malinvestment of the government

Yep. One could understand inflation better by watching a #TuttleTwins cartoon on the subject than this video.

Right

Wait, where?

Where?

@@Basomic 0:20 - 0:38, the scene in Futurama might also be a reference to something else but it's a scene in the Christmas episode

That's not a Futurama reference, that's from The Gift of the Magi a short story by O. Henry

If you take 2 seconds to google that statement about 50% of all dollars printed you'll see that it's not totally true.

I like Austrian style vaccine enforcement

"Kind of sad you guys never mentioned that almost 50% of all US dollars were created in the last 2 years." The reason they didn't say it is because it's a lie. The lie is based on the fact that M1 money supply increased by 13Tn in the first half of 2020. Doomsayers and other propagandists claim this was because of money printing, but it wasn't, it's because in March 2020 the Fed started to include money held in savings accounts in M1, instead of just physical cash and money on checking accounts like before. That's why M1 went up by more than 10Tn in one day in March 2020, because they changed definition of M1, not because they literally printed that much. They HAVE printed a lot, but it's in the vicinity of 5-10% compared to 2019, not 100% Tbh, to anyone with a functioning brain it should be self-evident that the government cannot print more than ten trillion dollars in one day, but I guess some people are just really gullible

@@exantiuse497 who said anything about *printing* money? Who said anything about $10T in one day? I heard the figure is between 20-40% of the money created by the fed in its 110ish years of existence was in the last 21 months. So while 50% is an exaggeration it's not magnitude of orders off, much like how the dollar has lost magnitudes of order of value since the federal reserve was created. You might find interviews with Jeff Booth here on KZfaq quite interesting as many of millions, including myself, have.

@@dustinabc People usually refer to the Fed creating money as "printing", even though it isn't physical printing anymore, so that's the term I used. The 10Tn figure referes to the M1 chart a lot of people use to scaremonger when it comes to inflation. In it the chart goes vertical in March 2020, which people claim was due to Fed creating money as part of the Trump administration stimulus effort, but as I said in my previous comment that isn't true

But Muh CEOs and billionaires!

The Gift of the Magi👌

I agree! Also the fact that most of these issues around people not working and apply chain issues were caused by government mandates, not by covid.

They are literally funded by the government.

Cause they get to the point with the animation which is cool.

They missed a major factor though- the creation of trillions of dollars by the gov't and federal reserve. The new money gets its value by stealing a portion of the money already in existence. So essentially they took a little value from each dollar you have and gave it to the federal reserve, who then passes that on to banks, and other cronies. #InflationTax

They’ve got lots of great videos on topics like cars, groceries, eating out, housing, etc. I’d start with those if you’re feeling lost.

@@michaellavy3269 I've seen em all but something about making money would be a bit more helpful not Gary vee garage sale shit, something meaningful!

@@deltaecho8968 thank you for calling out Gary Vee .... his content is trash.

-cook at home and DONT eat out -shop at cheap grocery stores like aldis or lidles etc -DO NOT buy brand new cars. buy certified pre owned ONLY -BUILD YOUR CREDIT. get a few credit cards and rack up small amounts on them every month to pay off. one card can be for food, another csn be for fuel for the month for your car etc. credit is king for financing anything. thr lower the interest rate the more you save -INVEST. do your reserach on investing. this channel has some of the easiest content to follow and learn about it. check it out. alot of this stuff is just commen sense. just live within your means and dont constantly buy shit you dont need. only if you realy can afford it go for it but be cautious

my best advice is to just have been born 30 years earlier

But not the nearly $4 trillion dollar quantitative easing that was given to Wall Street in 2020?