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The Incoming Currency Crisis is Starting: Be Prepared
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- čas přidán 17. 08. 2024
- The world is going through some unprecedented economic times where we are seeing a manufacturing slowdown, business closures, and an unemployment crisis.
BUT hidden in the shadows is another massive economic problem. A problem that hasn’t been seen in nearly 100 years, and has been known to cause the downward spiral of some of the most powerful economies in history.
If you wanted to buy something like bread, what would you do?
Well these days, you would probably just go to your local grocery store, pick out some bread, and pay with your card, cash, or phone.
But buying bread wasn’t always this simple.
A few thousand years ago, if you wanted to buy something like grain, you would have to give up something in return like sheep. This was called the barter system and it is how humans used to trade goods before the invention of currency.
But this led to a deep economic inefficiency. What if the person with grain did not want any sheep? Even though to most people, the grain and sheep have equal value, if the grain owner did not want any sheep, then the trade would not happen.
Problems like this are why ancient civilizations in Egypt, Babylon, India, and China came up with a game-changing idea that the world still uses today.
They began using clay tokens that could be redeemed at local warehouses for a select amount of items. Meaning that these clay tokens had value that could be traded at markets instead of having to use the barter system.
This was the invention of modern day currency.
But with the invention of currency came a new kind of crisis that the world had never seen before.
The Roman Empire in the 3rd Century AD had the worlds most advanced banking system that relied heavily upon its currency and coinage. But then a familiar series of events led to the destruction of its financial system.
The first of which was that the Mediterranean began running out of silver, which was an important resource to the roman economy, and was what roman currency was dependant upon. The Second was economic growth of the empire had slowed down for several decades. And Third was that the empire began producing more coins, and making more of its own currency, in order to try and help with its state finances.
The trouble was that once they started overproducing coins, they began to devalue their own currency. So by about 284 AD, the roman empire was going through the first episode of what we know today as hyperinflation.
This hyperinflation caused a dramatic decrease in the value of roman currency, it increased the price of all goods within the roman empire on nearly a daily basis, and also brought a large portion of the middle class into poverty.
This hyperinflation, economic decline, as well as several wars, became known as the crisis of the third century… which is viewed by many historians as the beginning of the fall of the roman empire.
Now, remember, the overproduction of roman currency to combat state spending was one of the largest contributors as to why the empire fell.
So that brings us to today. We are currently facing a crisis in which governments around world are printing trillions of dollars in order to help combat the effects of the lockdowns. Now many people have feared that this overproduction of currency will lead to high inflation or even hyperinflation, which would likely catapult the middle class of many countries around the world into poverty.
However, despite most countries around the world overprinting their own currency, we actually haven’t seen any inflation at all…as of right now.
In the early 1930’s during the worst parts of the great depression, most people would have expected to see some sort of high inflation or hyperinflation which is what typically occurs during bad economic times. But what we actually saw was the exact opposite. During the great depression we saw an example of what is called Deflation.
In fact, some countries around the world are going through a currency problem which might actually be worse.
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Hey Everyone! Wow we are at 309k Subs thats crazy! Thanks everyone! What do you all think of the currency crisis, deflation, and debt? Let me know in the comments down below!
Inflation apeared in my country we are in debt We maybe won t use cash
I really like your new type of content man, better than your past content I think. Keep up the commentaries and documentaries, you're doing great!
I'm curious - Deflation, Inflation, different currencies & economies... Are there any aspects of what was possible in the Great Depression or 3rd century VS what is possible today where you can see a possible way out? Does Cryptocurrency offer any solutions? Or perhaps if we just start planting food in all of our yards instead of grass, maybe at least if the economy is bad we can still eat? We have so much technology & ease of communication... I just feel like this whole system/game that we're playing is all made up anyway, so can't we use the options available to us to find a solution? Thoughts?
Also, btw - the discord invite link wasn't working, did it expire?
Thank you Jack!!!
So happy to watch a new video from man you are awesome
I think we have difficult days ahead
If you are white and a police officer than you will get the most minor punishment as possible. Americas government is the heart of racism!!! JUSTICE IS NOT FREE, JUSTICE IS EARNED BY FIGHTING!!!
I had to go back and check the date this video was posted. Yeah. Turns out deflation wasn't a problem.
yet.
@@throwachair in what world do you think deflation is ever going to be a problem for Americans? That would require the FED to do the right thing. And there are no more Paul Volcker's in sight
Haha yepp
@@throwachair still not 5 months on. Lots of these guys preying on negativity with music behind nicely narrated video. Don’t get sucked in
If there's one thing we learn from history, is that we learn nothing from history
@Alex Imersiv , ..think I read or heard it quoted some years back but by whom...who knows, and unfortunately can't credit it as wouldn't even know if that'd been the primary source 🤷🏻♂️ ...great quote nonetheless :)
The problem with learning from history is that most people only source one subjective viewpoint of historical events, and take from that biased source material lessons that are agreeable to their own personal biases, resulting in the history being skewed twice over, and no lesson actually being learned from the objective history of the event.
At least the sheep dont learn
@Alex Imersiv And history keeps repeating itself.
Corona Crisis
"If there's one thing we learn from history, is that we learn nothing from history "
who's "we" smartypants?
that moment you realize that almost the entire US youth is under a mountain of student debt that not even bankruptcy will forgive... for a degree that means almost nothing most of the time
No worries, the debts will be forgiven soon...maybe even by the end of this year! Mark my words in this comment, you heard it here first. 👏💰🇺🇸😊
And for an education you can have for free. The best universities have their courses on the internet.
@@Duermeahora I went to college for 4 years, almost had several mental breakdowns during my time there, and mass an enormous amount of debt. It was only after that, that I figured out I could have learned exactly what I wanted with less stress/red tape and get certified in less time, for far less money in online courses.
US colleges are cons that an entire generation fell for
@@SilverGuard online courses are pretty awesome, but a lot kids go to college to party, to network, to hook up, etc. There's a college culture that a lot of people never fit in. The only reason to really go to a physical university is to network your ass off. Also: the problem is not college. The problem is all the Boomers who won't retire. We have like a million boomers working at our place. We get applications from young graduates looking for a job all the time. And all the time, we have to say no because Mr. and Mrs. Boomer won't retire. I only got a job after one of the Boomers got sick and quit. If he were still healthy, I'd still be jobless.
All Americans have become debt slaves of the bankers - How about the $23 Trillion in national debt
I still can't rap my head around the fact that there is more debt than the entire world is able to pay, who tf does everyone owe.
Think about it like this let's say you borrow 10$ from me at a 10% interest rate. You would then owe me 11$ although I only gave you 10$. Consider how much money gets loaned out globally, it adds up quickly.
I CAN'T HEAR YOU OVER THE MONEY PRINTER GOING BRRRRR
Deflation won't be caused by expanding the dollar supply, but by too much manufacturing and commodity capacity in the world.
Money printer go BRRRRRRRR.
Thanks for making me smile♡even for just a second.
@@elevatormechanic7120 You've forgotten to take your pills again haven't you.
brilliant!
As a citizen of Ontario, I can safely say that things are going bad. Lumber has doubled in price. Food has started to climb in price as well.
but, didn't this video just predict a deflation, where prices are supposed to drop?
@@Birdylockso video 10os. Old. Comment current...where are we
@@Birdylockso the video ignored the simple fact that money printer go BRRRRRRR!
The increased money supply went primarily towards stocks, inflating their value, but some of it is going into the real economy, hence the inflation.
@@thechloromancer3310 , I wish things are as easy as it sounds. The US has been doing "BRRRRR!" as you said, since 2009, but inflation still has not reached the level of some of the 3rd world nations. Japan has been doing similar thing for the past 20 years, inflation is still a yawn. So, there is something else at play here.
@@Birdylockso
1) The nature of the US dollar as the global reserve currency means increases in money supply are often NECESSARY due to the increasing global demand.
More recently, that demand has greatly waned. However, much of those newly-created US dollars have instead found there way into the US stock market... hence the US stock market inflation of 2020/2021 despite market fundamentals calling for a slump.
2) Japan has been dealing with a deflationary spiral for the last few dacades. It has been printing money fervently in an attempt to counter said deflation. Hence the label of 'stagflation' to describe Japan's economic woes.
I expect inflation to become an issue for the US because the more credible financial leaders have begun forecasting a steep decline on demand for US dollars globally within the next couple of years. That will likely be matched by a sudden inflow of US money coming back to the domestic US economy as those holding US dollars seek to off-load them by buying US assets.
Of course, as Japan shows, sometimes apparently straightforward processes get complicated by other factors. Ultimately, we'll have to wait and see in regards to the US.
As a south African , our currency has been on a rollercoaster ride ever since the beginning of the lockdown
During the great depression, USD was not a fiat currency.
You missed to address this point.
We still had the Fed and fractional reserve banking at the time. FDR caused de jure inflation by confiscating all gold in the US at a redemption rate of $20.67/ozt and then jacking the price up to $35/ozt, and reserve requirements were decreased. We still had a massive depression regardless. The economic problems were systemic and arose from carpet bagging, speculation in lieu of real investment, and widespread agricultural failure. The economy is ultimately the mind game we play atop basic survival. It took an existential threat (WW2) to psychologically unite the populace and reinvigorate the economy.
Weimar Germany went to straight fiat to inflate the money supply, but their depression continued. No matter how much money they printed, nobody ever had enough -- the problem was a severe reduction in economic capacity and productivity, not a lack or overabundance of fiat currency.
Right now, we are at the beginning of a 3-cycle grand solar minimum. Crops are failing all around the world, and plagues of rats, mice, and locust ravage what's left. Cosmic ray bombardment is near an all time high as the magnetosphere of earth weakens to realign and the sun's magnetic currents shrink, leading to mutation of pathogens and pandemics.
Pumping the atmosphere full of CO2 can't make the sun shine brighter, and neither can the printing of fiat paper money make the economy more productive. The plutocrats have enslaved the world in dollar debt; at some point they'll have to realize that beating a tired slave will not make the soybeans grow any faster.
Of course it was. Usd was only backed by gold to 40%
Agreed. During 1929 time "were not able to produce enough $ than demand", the dollars production was constrained by amount of gold since it was backed by gold. This is no longer the case today!
In fact the FED said it can make unlimited FRNs.
It is plausible that deflation occurs to products that are debt based such as real estate in nominal terms but at the same time it may be to some degree off set by inflation; i.e the net effect may look not as bad- in real terms?
Isn’t fiat a car brand??
@@unripetomato4312 Yes, but it also means money backed by faith.(backed by nothing xD)
The stock market on the other hand appears to be defying gravity.
Printed money, corporate stock buybacks, and government manipulation is causing the high valuation. The US can get away with it because other countries are forced to use the dollar to purchase oil and other commodities. So the Fed is running a criminal racket, plain and simple.
LOL
Government manipulation = Stock's rocket fuel...
Looks like it will only go up, but when enough think this it will suddenly flip, as we run out of buyers!
Thats because it is FAKE. jcord001 is right on...
I've always thought that the concept of security has always been an illusion
One can achieve relative security thru preparation, but if you live in a system that
is designed to be unstable and you can never actually own anything......you can't even
achieve that.....and since most property is constantly taxed, year after year, you are
always one step ahead of the tax man......and constant inflation makes a bad situation worse.
This has been true since the dawn of civilization, and any form of usury, guarantees that the transfer of
all wealth will flow to those in control of the system.....
From the fear porn of covid19, to the fear porn of food shortage, and now the fear porn of currency crisis! They just want to keep you scared!
What the private bankers who controlled the issuance of currency(Federal Reserve Banking Corporation est. 1913) did in the 1930's was CONSTRICT the issuance of currency and at the same time calling in all debt. This caused a lack of money supply. Everything else was the same, but the money supply was constricted and the bankers called in the debt causing a cascading chain of events that left just too little money to buy things. Everything else was the same. These bankers did this purposefully so businesses and small banks would go under and they bought them for pennies on the dollar. As well as impoverishing almost all Americans. 7 million Americans starved to death(US pop. at the time: 100+ million. The largest wealth transfer in US history. And Now, These bankers are doing it again...
What would be best?
@@judsonmeraw6294 Buy lead and silver.
judson meraw better stable unalterable currency supply like gold/silver so elite stop taking advantage of the system.
a lot more of this past example was a negative externality of the situation that arised due to FDR's and Hoover's obsession with price stability and bad fiscal policy that ultimately led to the great depression after the fed was created and started increasing the money supply that led to a very bad boom after the roaring 20's, not because of some evil bankers stealing everything, with their evil plots, much of the reason we didnt get pegged with bad hyperinflation was because of these price ceilings imposed by FDR that just ended up translating into a even worse deflationary spin, Accounting and Finance student here, not all of the rich are evil but bankers left out of check can be some of the most damaging when they dont have enough competition, i would say what you are saying is more relevant to our modern crisis because of the increased lobby culture Washington has engaged in these past few decades and all the moral hazard and bad policies they have added over the years through things like FICA and creating more IRBOE's for new banks (Intentional Regulatory Barriers of Entry) as well other countless moves to destroy the value of our currency to tax us with inflation
Except they have govt subsidies and bailouts, so they aren’t really private.
"Inflation is a myth" - Coke used to be 5c a bottle. 'nough said. Sure there will be short term deflation, but that will be followed but large scale inflation as velocity of money starts climbiing again.
Exactly. Thanks for not having to write it myself. The USD will lose its reserve currency status.
@Nottellin noone If inflation hits 'only the essentials', given they are essentials, yea it's going to be a bad time for everyone.
Inflation will not happen for foreseeable future, because folks holding their purse strings, paying debts, afraid of tomorrow. Not enough $ flowing.. wait a few years.
The massive bloating of the debt based money supply is relentless and inexorable. The only thing preventing hyperinflation at this point is the defaulting on so much of the debt, which is deflationary, and the probably related phenomenon of low velocity.
Just within my lifetime a gallon of gas or a pack of cigarettes went from 25¢ to $4/gallon for the gas and around $8/pack for the cigarettes. Even figuring the increase in taxes, that's a lot of price inflation in 50 years. And that counts a lot of years when there was supposedly no inflation.
What's inflation? Above 5% or above 'zero'? Llewellyn 'natural rate' is about 3% - so of course prices have doubled (72 ratio) in 27 years. Since 1995, M3 CAGR grew by 5.6% and CAGR of inflation IS 2.1% - - check it.
"Indeflation" Infaltion in most commodities and food. And deflation for debt liabilities like cars, real estate etc
Nope.
Juubes wait and see
Celtic Revival / Adfywiad Celtaidd 💀😭
LOL assets are the only thing going to maintain inflation as its the only way banks are propping themselves up right now. Plus all FED stimulus end up in asset markets, not consumer markets.
Riff Bear For now. Once America starts realizing they are in a depression they will demand more stimulus money + the supply chain disruptions will make more money chase fewer goods =inflation in commodities and food. You might see real estate or cars keep their nominal price, but as inflation starts in commodities you will see that in real purchasing power terms the debt liabilities will go down in real terms. I think inflation can happen in both, but in purchasing power terms, what I say will likely happen.
Glad I found this channel! Your videos are so good!
Stop conflating 'currency' with 'money'
Money is whatever we decide to value
So currency is money
Though you’re probably referring to gold which has historically retained value always
Right, most “money” these days is not currency, but credit.
Precious metals are a type of credit too. It has often become useless when certain goods become scarce. And since you may need that good over the gold... you can't live in your few grams of gold coins and can't eat them to sustain life... you'll give them up for such items.... in some cases, the worst, those precious metals won't be accepted anymore than paper money or lesser metal money.
Money is an instrument used when a relatively stable economy is achieved to avoid the pain to (extreme cost or inability to effectively) barter.
Tim Richardson Our currency is Federal Reserve Notes, with the emphasis on Notes- IOUs, or promises to pay- debt instruments, not credit instruments. Interest is due on every FRN in circulation because they were created by selling interest bearing bonds which must be paid back eventually with interest included.
Clarify - I'm not 'clear' what you're getting at... I know what money is from an economic definition, yet currency... well, clarify.
This video: 30% is considered hyperinflation
Venezuela: Hold my beer
LMAO!!! :D
hold my cerveza......you almost nailed it....almost ^^
@Haroon Abdul Majeed Yeah... as an Argentinian with an inflation above 50% nowadays I think I have the right to say 30% its not hiperinflation so you kind of missed the point on my joke, sorry if I offended you but hey, its better to laugh rather than cry isnt it?
@@lacroix1976 so close...
You mean, “Hold my beer while I eat your dog.”
I'm a 66 year old man in Iowa, USA. I've been a Baha'i for 34 years. The Baha'i world view is that humanity has evolved slowly and painfully through collective stages of infancy, childhood, and adolescence, and we are now transitioning through adolescence. The next inevitable stage is graduation, the coming of age of the entire human race. A main challenge with trying to make sense of current economics is that our core systems are still variations of fuedalism. We need new systems based in our interdependence. No one can be left out, inclusion, basic needs for all. New think.
Correction- the barter system is largely thought to be a myth now. It's currently believed that before currency, humans would simply live in tribes and help each other out by giving/doing whatever that person needed and expect reciprocation of that some time in the future. Basically everything running on trust and a form of socially regulated debt. Currency came into the picture when we started settling down and using agriculture to create larger societies where the system of reciprocity wasn't maintainable
in america some tribes that were not settled still had currency in the form of sea shells that all tribes agreed were worth something, its interesting that currency evolved in such conditions.
Barter system was largely thought to be a myth??? Yeah ....may be for an uneducated fool, it wad
you havent interacted with many people have you?
they suck, in general
Barter is for exchanging equal value for goods with people you DONT know. Or for immediate payment. Ive heard this before, but trust isn't reliable. Id love for it to be that way, but if you want any sort of import/export or simply trade with someone you dont know, you need something to exchange at that moment.
What good does a ton of promises do for you if you and everyone else is in emergency? Plus Your trust in one person will differ from my trust in a person, so the value exchanged would be different. Although the trust system would be the best, considering no one would've funded Hitler, or any govt for that matter
yep, barter never happened on a large scale except in societies that used to have money but for some reason lost it -- like the US in colonial times
Deflation?
Look at the housing price!
Rent
and service charge
utilities
All went up high And going up up!
Government should stop printing paper money no more. period!
At this point.......The Federal Government CAN'T STOP PRINTING....It's a done deal....There is no no going back.......Except by a FORCIBLE RESET!
The forcible reset would require a educated population to make productive decisions. The United States DOES NOT possess such a educated population.
What the United States DOES possess is a rising population of impoverished FORMER MIDDLE CLASS who will make a fertile breeding ground for the promises of a emerging Socialist/Communist leadership. (Think of Argentina and Venezuela, etc....)
There will, of course, be a large Resistance against this.....
The New Socialists made a serious mistake.
They failed to confiscate our guns.
Thing is the principle is that when the public stops spending, more goods will be produced that won’t sell. Thereby decreasing the values of goods which is then treated like the an increase in the value of money. But I don’t think that’s gonna work in this world rn cuz corona’s causing an increase in demand and a decrease in Supply instead of Vice Versa.
Most money is created on a keyboard digitally. There are 2 ways money is created, thru Fed govt spending and thru creation of bank loans. Creating money does not cause inflation.
@@guitardzan5641 Argentina and Venezuela do not have the same economic conditions as the US. Creating money for spending on programs like medicare for all, or a jobs guarantee is not inflationary. Money is not a store of value.
@@henrygustav7948 THANK YOU! Indeed, monetary stimulus does NOT equate to firing up the printing presses all night. It's the central bank buying USD-denominated assets, thereby infusing more greenbacks into the system (stimulus) and vis-versa to curb inflation
Another banger, my man. For me personally, the deflationary stage we're heading toward is the time to be buying up commodities and food supply. Once the hyperinflation sets in and bananas cost $20/pound it's gonna get real ugly. I envision more rioting and looting than compared to what we're seeing in the US now.
Much more and general civil strife. Crime rates are going to skyrocket... A total breakdown of society. All planned and wanted by the central bankers that control the issue of currency(Federal Reserve Banking Corporation) - They always increase their wealth and control from this... Just like they are doing Now - suzieqq.wordpress.com/2008/02/11/how-a-group-of-international-bankers-engineered-the-1929-crash-and-the-great-depression/#:~:text=How%20a%20Group%20of%20International%20Bankers%20Engineered,Crash%20and%20the%20Great%20Depression&text=Using%20a%20central%20bank%20to,bankers%20to%20an%20exact%20science.
yeah if you think the rioting is bad now you've never seen hungry people. Let alone a large group of them that is used to being very comfortable.
It all depends where the money goes.
@@SgtMajorSkull : Thanks for that excellent reference.
Good! The sooner the better that the world allows the USA to implode.
I work in manufacturing. Just heard shipping containers quadrupled in price. And our manufacturer is increasing prices. You won’t see inflation immediately... it slowly makes its way to the consumer.
There is a *HUGE* factor that was ignored here. Deflation during the Great Depression was due to the use of the gold standard at the time. Due to the gold standard, the supply of currency was limited by the amount of gold in the treasury, so the government couldn't just print more money to combat deflation. Nowadays, there is no gold standard, so money can be printed as quickly as it is needed. Therefore, in a modern economy with a fiat currency deflation would never occur.
These bankers WILL Take Everything from you... If you let Them
YEa, and if you print 10 times as much money, it will all be worth the same! Inflation not longer applies. We need to do this and give a refund of $1million to all.
Man, do some more research...
If you seriously think the gold standard caused the great depression, you're just wrong. Once you do the research, you should know that the federal reserve f'd it all up, like they're doing nowadays. It could've been a normal recession. If anyone seriously thinks, that wealth can just get typed in a excel sheet, is just... . This system is not going to survive much longer.
@@ben5609 Now this one is catching on. One thing I'll say is that the Federal Reserve Bankers intentionally planned and carried out the situation that caused "the great depression" - They bought up the floundering small banks and businesses at pennies on the dollar and Increased THEIR wealth Many times over. That it had to devastate almost all Americans and that 7 million Americans starved to death was inconsequential to them. And they are about to do it a second time, or, they have been doing this for a long time now repeatedly, with the same end result. This time with much worse consequences for the people at large. America, as it once was, is Gone now. America is Venezuela.
notice that deflation is only a real threat to fiat money systems (USD, EUR, GBP etc.) in which all money is created from debt.
Equity based money systems like gold and Bitcoin aren't threatened by this in the same way.
Just forget the STUPID BITCOIN. Gold and Silver and nothing else 🧐
How is bitcoin any different from the fiat money? Is it not just created digitally?
@@chrisjones1923 The difference is that he didn't spend his entire $500 life's savings on Fiat money, in hopes of getting rich quick.
@@chrisjones1923 bitcoin has a finite supply and finite discoverable amount.
Bitcoin isn’t money. It can do a whooping 3.8 transactions a second and requires a stupid amount of power to function.
Our CEO is actively advising franchise members to hoard their cash which, IMO, is one of the prerequisites for a deflationary spiral.
You hoard with an intent? Many corporations will go munch munch on those weaker to claim losses in future tax years.
I would suggest stocking up on items you use regularly. If the dollar begins to decline in value it will take more of it to purchase the same items. You might as well have more on hand. It's not like you will not use them eventually.
Pay off your unsecured debt as fast as possible.
Only acquire non-recourse secured debt, where the lender can only foreclose on the collateral without personal recourse to take your other assets.
Buy only what you need to survive and pay cash or debit card, not consumer credit.
*The fewer things that you own, the fewer things that own you.*
Credit cards can save you money as long as you don't carry a balance.If you are responsible you can profit from these companies from cash back. I like to believe that everyone has it in them to be responsible but if they can't then they can take your advice.
Deflation can be avoided if the government gives money to the people . Instead the Senate is appointing judges while people are losing everything :jobs,housing ,the ability to feed their children . These people are desperate they worry about every day for their family . The Senate has a cash register for a heart .
End the unconstitutional lockdowns and restrictions on businesses.
become useful, learn to fish, hunt, grow, harvest, form communities and learn to live from your land.
yeah im sUUUUUre a society of 340M people can sustain itself on a hunter-gatherer basis....
I respect what you're trying to push, but not everyone is physically capable of doing that.
I'm having joint pain issues and I'm not at middle age yet besides anyone a fair bit older.
joel dong if you can hunt, you already know how to or have the means to kill an animal..so defending yourself shouldn't be a problem.
@@davidcatlett4052 That too, not to mention that the land is not able to support 340m people living a hunter-gather lifestyle.
Red Stoner they're not, you're right that's why the elites intend on culling as many as possible. But I live in the UK so it's an option for myself.
Where do you get all of these clips from? This is some amazing editing.
Stock footage
Terrifying
Excellent video
Its very scary to think that with everything that has happened today and this year worst times are coming.
Thank you for posting and educating everyone.
The Federal Reserve Bankers intentionally planned and carried out the situation that caused "the great depression" - During the depression They bought up the floundering small banks and businesses at pennies on the dollar and Increased THEIR wealth Many times over. That it had to devastate almost all Americans and that 7 million Americans starved to death was inconsequential to them. And they are about to do it a second time, or, they have been doing this for a long time now repeatedly, with the same end result. This time with much Worse consequences for the people at large. America, as it once was, is Gone now. America is Venezuela.
Posted 10 months ago and the sky still hasn’t fallen it. Keep going though if you keep on predicting Armageddon one day you will be right.
Peter Schiff has been banging that drum for over 25 years that I know of, one day he will be proven a 'seer'. One day, some day, probably posthumously.
18 trillion printed in 6 months...now The government shut down the site that keeps the data on M1 M2 supply no longer pull up the graph 35% more money ever printed for the last six months the problem of the stock market and buying their own debt....
Btw - hyperinflation is waaaaay worse than deflation. Hyperinflation does not mean 30% inflation - it means 1000% or 1 million% in inflation.
Control over the currency will be completely lost. Only thing that can save people will be hedges, like gold, silver and bitcoin.
The deflationary sprial is the kiss of death. The the inflation is the funeral that carries us out to sea.
To say that hyperinflation is worse than deflation is like saying Mao Zedong is worse than Stalin. Both are very, very bad...
@@hkumar7340 Deflation is a VERY GOOD thing in an environment of prosperity. There has been robust price deflation in the consumer electronics and computer markets for decades. Those markets are doing just fine. Deflation is a sign that innovations and efficiency gains are raising peoples standard of living and their buying power. The only time that deflation could be viewed as bad is in the event of an economic shock or collapsing bubble. Even then - it's not a cause - it's a natural (and healthy) free market reaction to the real cause.
Inflation is theft through loose monetary policy. Deflation is the free-market response that attempts to set things straight. The only people who need fear deflation are those who are profiting (through wealth transfer) from the theft of monetary inflation. The banking cartel.
Bitcoin is just another fiat currency ,actually it is worst as it has zero intrinsic value it is the perfect definition of a Ponzi scheme.i and when the dam breaks it will one of the first to fail.
rick woods absolutely completely disagree. Bitcoin solves one of the biggest problems in the world, which is pretty much the definition of intrinsic value. That biggest problem is allowing people to become their own banks, and not having to rely on any bank or fiat or government ever again for money! It’s one of the best inventions of all time. To say it has no intrinsic value is shortsighted, and not very educated to be honest. This is only the beginning and I expect one Bitcoin to become worth millions in the future. The decentralization aspect is absolutely beautiful. You sound like the father of the Wright brothers: “If God intended for us to fly, he would have given us wings.”
I can read so much faster than I can skip through videos. Thank you so much for putting the video in the description. I'll leave a like and let the video play for the alg, but please keep this up.
In this lock down situation, people are becoming self-reliant, have learned to live on less as the money is scares, jobs difficult to find. The government all across the world should start spending more to get all of us out of this loop.
We didn’t see inflation in 1930s because the Gov wasn’t printing money like we do know, the feds actually are pretty proactive in keeping the economy going as we have learned
I remember everyone screaming about deflation in 2007 but that didn’t happen
Inflation for consumer goods, deflation for debt.
The average price of goods and services is misleading; most people don't live in the average.
Inflation has become the problem!
Why do I watch these like I don't have enough to worry about afraid times are soon to be really tough
Read your Bible it says you are not to worry what can the world do to you your going to live forever not your flesh of this age you will get a new body a glorified one like adam had before the fall GOD said don't be concerned these things have to come to pass GOD does not want you to worry HE will take care of you amen
It seems to me that deflation is either a relative increase in the strength of the dollar in relation to the currencies of other countries and/or a drop in the value of goods and services. Focusing on the more likely drop in the value of goods and services, it would be caused by a drop in demand due to a lack of spending during "hard times" and an abundance of labor thanks to high unemployment more than anything else. This is exactly what's going on due to the current crisis so what's the solution? They can throw more stimulus money at consumers to spend online and with restaurant pickup/delivery orders but until it's safe for the majority of us to go out and resume our normal lives/activities/spending it's just a band-aid. Ultimately it's going to come down to an increase in demand and resulting increase in production as was the solution to the great depression being WWII. It could be that the government may hold the key by artificially increasing demand for goods and services at the right time in the form of government projects such as repairing roads/bridges and stocking up on manufactured goods/food. Creating this demand for companies to fulfill rather than government programs would jump start hiring and thus consumer spending.
As a country, no matter how you look at it, we are in the last days just as with the Roman Empire. FUBAR on a national level. I feel good knowing for over thirty years I have been investing in precious metals like gold, silver, and copper plated lead.
Jack
I'm a Chinese-Canadian working at Tokyo for more than 1.5 year now
I can see that Japan has been trapped into this deflation spiral you are talking about since the 90's bubble burst.
My family and friends are still in Toronto, Ontario
I hope Canada doesn't fall into this deflation spiral.
During the Great Depression, there was deflation in countries like the USA. There had been hyperinflation in Germany after WW1, which played a role in Hitler taking power. People were starving to death in both situations. The United States was still on a gold standard system in the 1920s and 30s. It's highly unlikely that the US will experience deep deflation in fact almost impossible. You may see prices go down in certain parts of the nation, but not enough to really make a difference. Hyperinflation is much more likely to happen after all of the government spending and no way to ever pay it back.
flilguy What you don’t realize and what this video fails to mention is that the deflation in the US during the Great Depression was a direct result of the money supply being shrank by 1/3 on purpose. The money supply shrinks when banks call back all the loans, and then stops lending the money back out.
So the question is what did the Bankers do with the money during the Great Depression? Well.. my guess is a good portion of it went to funding the rise of Nazi Germany.
I hope it's unlikely, but it's extremely likely we'll experience the continued _threat_ of deflation. We'll suffer from it only if Congress and Trump are idiots and oh god wait
"Debt the first 5000 years" by David Graeber debunks most of this vid
Barter came first, and chartalism is wrong. Modern Monetary Theory is heterodox, and will lead to the next world war. Although I've heard that book specifically is decent
I stopped watching after the claim that barter systems came first
@@pallando100 to be fair, Graeber is one of only a handful of academics to conclude that barter didn't come first - the rest of academia just admit that they have no evidence that barter came first but just assume it did in the absence of any evidence that it didn't
As ever a very good video and as always very informative and educational thank you 👍
Who the hell do all these countries owe money to, Mars???
I made more currency ten years ago then what I make today doing the same job
Add the lost of purchasing power
What do you call that ?
Career stagnation. I've had my ups and downs, plus location cost of living. I took a slight base pay cut, moved from southern California to Dallas, TX area and cost of living as a percent significantly lower. (Rent $700 to $350 and no state income tax) plus after a short time, a raise and lots of OT. Best economic time of my life. Oh, did I mention I was also single? 🙂
@@ChessIsJustAGame
That's funny you move from California to Texas
I move from Texas to Mexico for the same reason
Housing is much cheaper over there
Plus I'm all ready a Truck Driver it doesn't matter where I live I'm never home any ways 😆
The result of republican policies.
That’s called shitflation
You are making less money now than you were ten years ago doing the same job because the people who run business have reduced the bargaining power of workers. Unions and workers being united in the past stopped employers devalueing many jobs and positions. This is also why many people in the West are pissed off with immigrants flooding in. Business is rubbing its hands when cheap skilled and unskilled labour turn up at the doorstep, usually desperate to get work and often already trained and experienced. Now this is why you have probably made less money doing the same job over time. More people doing your job means more competition for you not the employer, therefore your bargaining power for decent wages diminishes. Also have you noticed why a lot of younger people are not getting any training or a chance to gain experience even after going through expensive education? This is because again cheap skilled and already trained labour coming from abroad is great for business as there are less over heads from training and develpment. But crap for your kids as they cannot even get there foot in the door. I am not anti immigration, these people are important, and many do jobs the locals do not want. Many immigrants are in search of a better standard of living which is fine. However the standard of living for the locals becomes debased from uncontrolled immigration not just currency. As an analogy the grass is greener on the other side and everyone moves over there until the grass cannot sustain the density of those bodies all wanting to feed of it, the original locals share of that grass will get less and less until a job that could sustain a living before no longer can. Business is not that intelligent and mostly greedy, most only look at the short term not the long term. As Henry Ford said, it makes sense to pay my workers enough so that they can purchase my own vehicles. And you are only as rich as your customers?? Uncontrolled immigration to the benefit of business and not communities and the greater good causes tension and anger, the undermining of workers Unions diminishes the voice and bargaining power of the common working man. Unions are useless if business can just throw you on the scrap heap and get Jose or Raj to do the job at 1/4 the cost. Deregulation by business through lobby pressures also diminished your workers rights in the USA and elsewhere in the West. Business is important but so is a thriving middle class and society, as a society is only as productive and wealthy as its citizens pockets and spending power. Never turn against immigrants, these people are quite often desperate and used as pawns in the media, but people are right to be concerned. And it is not racist to be concerned about the obvious and your own well being no matter what liberal bullcrap the media shoves down your throat. I also noticed the infrastructure and home rental market of many major cities popular with high immigration struggle to cope with the influx, further reducing the quality of life of indiginous locals. Many will argue that more immigrants will then require more services meaning more jobs, this is true, but usually lots and lots of really low pay crap jobs.
The incoming currency crisis(: best way to get prepared for this is investing into crypto currencies eg: Bitcoin especially with its current rise.
Exactly
Bitcoin is the future, investing in it right now will be the wisest thing to do especially during this crisis..
@ Lopez Joe yeah you’re right the wise sees economic crisis as a garage sale.
You don’t need someone to tell you how to invest your coins you can make research and try doing it yourself first!
Lucas Moore wow I’m shocked you mentioned and recommended Mr Thpmson Walters. I thought people don’t know him.
This is also true today. Stocks are 50% cheaper in real gold and silver money from the US Treasury since 1966. But in debt notes the notes lost 95% purchasing power since 1966. Inflation exists in debt notes but deflation exists in real gold and silver money. In real money things are getting cheaper and cheaper. In debt notes things getting more expensive every year. It's a debt note problem.
It's only a problem if you have a debt. I have no debt, so this is GREAT NEWS! Keep it up World. I want greater spending power!
2:37 Time traveler spotted
I see it ...the boy with the backpack to the right corner.
You might have the best Mic I’ve ever heard
I never really thought about deflation...thank you. Now I know something new
A few months later gas is up 93 cents a gallon, steel has doubled, brass and other metals have nearly doubled, scrap steel is way up, so this would be inflation.
does this mean that if we had economies based on equity and not debt, deflation would be good?
Deflation is good for creditors, yes
Goerge Gammon done a video on it, from 1830-1920 the USA was in almost constant deflation and everyone got richer.Then the Fed arrived around 1913 and started its money printing debt based society.
deflation IS good. It is the remedy to bubble economies. Govt's step in and dont let it happen, exacerbating the problem until they can't. They historically at least, they go into hyperinflation to fight deflation that they created, or they go to war and blame the deflation on that
@@paulscrapman yup, the real issue is that a lot of economists assume all deflation is bad, when there are two separate types and one is good (supply side deflation because goods are getting produced more and for cheaper), and demand side which is bad (the spiral explained in the video), but beacuse of the popularity of keynesian economics with politicians that lets them steal money from you without you knowing it, these type of economics get taught to students like me and they believe ( I was fortunate enough to have professors who saw the BS and called it out though)
Cities across the U.S are on fire. Bullish!
Its only a matter of time
The inflation will also destroy businesses and debtors, because when it will get out of hand, the only way to stop it is to hugely increase interest rates. Imagine 20-30% interest rates. They will also increase dept up till default.
Actually inflation has been understated for decades. The problem is how the consumer price index (CPI) is calculated (a shopping cart of products), and how government/businesses figured how to manipulate the system to give the impression of low inflation. A can of tuna becomes slightly smaller, a mega roll of toilet paper that was once enormous, now is rather small. For example, the Obama years saw fuel prices, food commodities, housing/rental prices spike, yet there was allegedly a very low inflation rate. Since the Great Depression, governments have learned a lot about crowd control and panic avoidance. The trauma of mass hyperinflation may have been avoided, but deflation is a far worse situation to deal with.
I guess these "stock footage" channels have become a trend nowadays.
Caspian report, Economics explained, Visual Politik, this etc
ppl need somebody to explain them in a simple language , better with pictures :) what is going on.... crisis is a best time for this, panic and unstable situation and everybody asking one question - what to do? if there is a demand there always will be a supply :)
If you're an editor, videographer, MU artist and actor then what are you waiting for? Show us what a real CZcams channel looks like. For free, of course.
definitely noticed this too lol but i can imagine is cuz its easier then buying a camera and filming yourself.
@@thephilosopher7173 Easier THAN, not easier THEN.
"we haven't seen any inflation at all" ..... wtf??? .... has he bought food lately? .... has he seen the price of silver and gold? .....
2% per year is target. Its not excessive.
@@Christian-ki5js thats a fake made up number to justify their actions. Its a shell game where they constantly change the formula.
@@samuela6271 you're a loon! It's so people don't hoard money and reinvest it into the economy, it's 100% necessary and one of the main reasons capitalism works so well.
@@Christian-ki5js Indeed. Calm yourself, caseusa.
Time to start stocking up on dehydrated food items and bottled water.
Economics Explained also has same visuals and script narrator style .. almost similar also some clips like beggar in suit and infographics are same .
Thanks for the insight explains through this video.
Pay off all debts, keep plenty of cash savings on hand, and you'll be fine
for many easier said than done.
What if cash is worthless in some time? Wouldn't be better to buy Gold and Bitcoin? think about it
Nah fuck that I'm maxing my credit card out buying guns and ammo and they can come get those from me...kidding about the guns but it's doesn't make any sense to me to pay off debts if everything crashes.
Good advice but not real world advice for these times whereby folks have no savings. So, prices deflate to entice folks with no money to purchase and layoffs ensue and people work for less if at all and can afford less. “Deflationary spiral”.
@@laurandes08 You can't buy anything with Gold and Bitcoin, you still need convert it to cash.
This is going to be the best economic disaster ever!
Doubt it. If Bernanke wasn't there in 2008, yes there'd been the apolcalypse!
There's at least two types of deflation, the one you just mentioned and overproduction deflation, which is when manufacturers produce too many goods and of too high a quality meaning they have too long a lifespan to be consumed and people simply stop buying things. Prices begin to fall because there is no demand, and then the same deflationary spiral.
Deflation, because all the money going into the system has been buying debt, not invested in infrastructure or things that create production and jobs. We have become a service economy, and that is not a strong base.
Please drop a comment here.
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"Unprecedented"
If I hear that damn word one more time....
lol
j/k
It's coming people won't be prepared end we're going to have a lot of bad times ahead thanks for the video
@@profribasmat217 The grand solar minimum!
That prediction ...
Nice one, Mister "Expert" XD
All this financial analysis from various areas never mention war, and as we know all of the war's were for financial reasons
Frankie,
THIS TIME......The war will be in our own front yards.
Ugh. Just stop.
WHY DO WE NEED MONEY IF WE CAN ALL JUST LOOT STORES??
Because store products arent produced for free.
Only morons like you will get an idiotic idea like this.
The bankers looted Americans and America long before... which they are still doing - suzieqq.wordpress.com/2008/02/11/how-a-group-of-international-bankers-engineered-the-1929-crash-and-the-great-depression/#:~:text=How%20a%20Group%20of%20International%20Bankers%20Engineered,Crash%20and%20the%20Great%20Depression&text=Using%20a%20central%20bank%20to,bankers%20to%20an%20exact%20science.
@@panzerkomander3832 actually that's the same logic behind money printing, Why do i have to work When I can just print 💰 and the federal reserve is exactly that!!!
cuz the stores run out of stuff to loot. then what? Truth is, if they print up money to pay for govt stupidity, why does anyone pay TAXES?
As long as the Fed is willing to print money then deflation will not be a problem. Inflation on the other hand is always knocking at the door.
Sounds accurate.. $1 CAD was worth 70¢ for past year and in the last 4 weeks it's heading towards 80¢ ...
And it's nice to the Tech and health sectors pushing the entire market up while the rest are lagging. Greatest timing to continue investing right now.
If you are respinsible enough and have a low level of debt deflation doesnt sound like something bad.
Peach TPM ... Roger that. I’m retired on my own savings, but it is going to be hard watching the agony of those whom I love. I clearly don’t have the means to care for all.
Don't worry. They will never let responsible, non-billionaires benefit from any of this. They will find a way to make sure that those of us who are are not compliant hyper-consumers will hurt as much as everyone else.
Depends - you have no debt but because no one is buying everyone has been laid off - so now you have no debt and no job.
@Davin L Get out of the market before the Trump depression hits, I did...
@@johnkeith8072 Trump is just the latest president to oversee our nation's financial ruination. We produce almost nothing in this country, and the world tires of exchanging their things of value for our Federal Reserve Notes and Treasury IOUs. Our exorbitant privilege is reaching its end as the world shifts to SDRs and trade agreements with the emerging market super powers -- even if we start blowing up the world to enforce the aircraft carrier dollar, the economies that do produce things still might not submit to the global supremacy of the dollar.
Its hard to criticize when someone creates such a wonderful and informative video with so much great information, but you are missing some key info and a very important point EVERYBODY seems to be missing in all this. The problem is the theft of American sovereignty through the monetary system via legal tender laws. The fix is easy, the recovery would be hard, but it would be a faster and better recovery than what is coming. We MUST start talking about ENDING LEGAL TENDER LAWS! These laws are directly connected to our sovereignty, something more important than our economy, because our way of life is the pursuit of liberty, and liberty is what builds and sustains healthy economies. Notice the more the people's currency is diluted so goes our liberties. The amount of currency one has determines the amount of freedom one has to provide for one's self and experience life. Notice how extremely rich people can do (for the most part) pretty much what ever they want?
Gold and silver IS money, not currency! That's why people that wish to have power over the masses don't want us using gold and silver to buy and sell products and services with each other. They made laws to keep us from doing it. While our constitution STILL says Gold and Silver should ALWAYS be legal tender. Yet it's illegal to use gold and silver coin to pay your employees? Yeah that's because our owners can't tax it because it's sovereign currency! Once people understand this concept of sovereignty and it's connection to currency, means no one needs these currency manipulating pricks for anything other than luring poor people into webs of debt, and inflating currency to prop up insolvent billionaires and the stock market.
I'm not an economist, but I play one in the comment section of CZcams and I say this documentary is right and it is wrong. Deflation is coming for cars, urban/suburban real estate, overgrown/non-essential small business and a majority of the stock market (prolly bitcoin too, but that's a definite maybe, jury's still out). Precious metals, ammo, guns, food, (useful) rural land, practical use items and the companies that can produce those practical items nationally will see price increases to varying degrees.
Buy at least a little gold now, 90% silver if you're poor. The run up is now in sight. While I pray I'm wrong, it looks like we are headed for some serious trouble in the near future. My timeline, I don't know, my guess, I pray for another year to prepare, hopefully, but hopefully I'm wrong about everything and everything will be fine. However if I'm right, that gold/silver you buy now will get you what you need if the currency stops working in the future.
Also, before any metals investment, make sure you have some protection and a decent 30 to 60 day long lasting food hoard first. Even if people call you a crazy prepper, just remember, it'll be WAY better to have that stuff and not need it, than need it and not have it should the SHTF. If everything is fine and life goes on as usual you can always cycle the food by eating and replacing your non-perishables and it won't ever be currency wasted.
Good luck out there everybody, let's pray I'm an idiot and I have no idea what I'm talking about! Take care and God bless.
Your prayer has been answered... And the answer is 'Yes, granted!'
Very nice.
With governments like Canada basically handing out free money to keep consumer spending as strong as possible, how will this offset deflationary pressures? Is it enough?
I don't understand how the demand for money will outstrip the central bank's ability to generate money in this era, since the gold standard has been abolished. Central banks now have power to generate as much money as they want from thin air.
You can only play with funny money for so long before reality hits.
2:10 Literally inflation/hyperinflation. What we are seeing RIGHT NOW. how empires fall.
Nothing in Australia is coming down in price!
I live in Montreal, a service based city. Dead since March, xcept for homeless, city employees and construction sites.
December 23rd 1913 the day Satan himself took over America.
Daniel Rotter 😂
Or was it 1870 when the United Stated became the UNITED STATES?
@@matthewronson5218 Both events equal.
@@JanRiffler Yes. Part of the same plan, as intended. I look at this as having been laid out going all the way back to Antiquity.
@@matthewronson5218 It's been the plan since 1789, but it took until 1933 and FDR to finish the job.
No doubt Forex and bitcoin Trading is a big chance to make money
you are right !!!!!
Bitcoin trading is indeed profitable
People are scared of investing because of lots of unprofesional brokers out there
As a beginner trader, you would like to take the opportunity to earn a lot of money and, of course, start a career in a Forex trader. ... Unlike the stock market and other financial markets, Forex has no centralized location, since it operates 24 hours a day in different parts of the world.
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That's huge *Tina Plummer* did you trade all by yourself
People largely lose jobs during deflation when minimum wages are in place. With no minimum wage, wages can be tied to the change in value of the currency. However, FDR and Hoover (and most heads of state) made it illegal to reduce worker pay once the value of currency began to rise, accelerating the job losses during the depression.
As a Canadian I say that we will have far less to worry about than most BECAUSE we didn't simply run out and print gads and gads of new money. We instead borrowed gads and gads of money. The two are not the same thing and have completely different outcomes.
And as a Canadian, I can also say that no, things are NOT getting cheaper. They have remained about the same price and in some cases have gone HIGHER without any real indication as to WHY. We see it as a "because reasons" answer. Now since the money we used was borrowed and not all printed, this means that Canada as a country has a bigger debt to repay, BUT this helps stave off deflation and hyperinflation concerns. There are things to concern ourselves with as a large borrower, don't think otherwise, but overall these concerns are far less than those we'd have to face with deflation or hyperinflation.
If anything it would mean new taxation and thus less income overall, but this wouldn't be permanent and wouldn't really be as dire as some would believe. I have every reason to believe that Canada as a country will fare this storm far better than most nations who simply printed new money. We'll end up with black eyes as opposed to broken faces.
Deflation came after inflation during the 20's there was inflation and deflation returned the prices to what it before the 20s. And the idea that lower prices causes business to go under is false because the cost of materials also goses down so its beneficial to have lower prices that increases customer spending with means more profit
What if there is no material?
Keynes is rearing his ugly head and people blindly follow his insane theories.
Except you have debt liabilities and wage liabilities.
If it normally costs $1.00 to get a loaf of bread to your grocery store, and you normally sell it for $1.50, that's $.50 you're making per loaf of bread, and you're making 150% of income compared to your inputs.
If the cost of your bread drops to $.25 but you can sell it for $.50, then you're making $.25 per loaf of bread, even though you've increased to 200% of income compared to inputs.
Looks good on the surface, but let's say you normally sell 10,000 loaves of bread per month, and you have $4,000 in rent and wages that you pay out monthly. During a normal month you're making $.50x10,000=$5,000 per month, and have $1,000 in profit after expenses. After deflation you're making $.25x10,000=$2,500 per month, and you're actually losing $1,500 per month.
@@adamperdue3178 true in a vacuum
You are correct. That is why deflation is now. We have been inflating for years and years.
Bitcoin
well Hello there😊↗️↗️↗️
more like xrp
bitcoin never was on barter system so its never going to happen, bitcoin is valued with money and therefor never going to help you out.
Well hello $BTC $ETH $LTC $XMR $DASH
Government controlled bitcoin
Brent Johnson's "milkshake theory" does a great job on this topic as well.
Does it?
@@Aliens-Are-Our-Friends2027 have you read or watched a video about it?
Wages are way up in Canada but goods are falling in price... it makes no sense..
I have read that the barter system was not usually used within a village or community. But rather a system of credit and understanding. You get something from someone within the community and return the favor at a later date. Since everything was within the community, it was easy to establish trust for this type of credit to work.
Barter was typically used when trading with people outside the community since there was a lack of trust and so the transaction had to completed immediately.
You need to put down the government drugs because you are see everything from their eyes. Prices can't fall forever. So why did the depression continue for years? cuz government kept artificially propping up prices causing people who did lose their job to not spend.
However prices can go up forever if your government refuses to deal in reality and continues to print money.
2:38 Kid with baseball cap, modern backpack with bottled water inside just hanging out in the ancient mall
Important note on the source of Ontario's debt:
The current provincial government, as a prime example, came to power on promises of fiscal responsibility (with next to nothing in the way of any sort of plan or stated intent). Almost as soon as they gained office, they started to cut *both* essential government services (including among many others, regulatory inspections of for profit long term care homes for the elderly, which would later become the epicenters of Ontario's Covid19 outbreaks and account for the _vast_ majority of Covid19 deaths in the province), *and* taxes on the wealthy and corporations at even greater rates. With the net effect being that Ontario's deficit _grew_ from the combined cuts.
What Ontario has an ideological disdain for the poor, and any government services (and corresponding spending) that would benefit them, surpassed only by its ideological love for tax cuts benefiting corporations and the wealthy.
what goes up goes down
Outstanding report!
Thank god we have plenty of inflation to avoid this problem.
Inflation isn't a problem these days. That's precisely why central banks have all had to adapt to zero interest policy, and even try some crazy things like negative yields.