One thing I've never been entirely clear on is what exactly people mean by "the money supply," or "printing money." Obviously I understand the process practically, and the premise of its effects on inflation, but I can't join the dots in my mind between physical money being printed, and the amounts of money ending up in people's bank accounts. When they say that quantitative easing results in more money being in the economy and thus lowering the value of a currency / creating inflation, how does the money being printed find its way into the money supply? It isn't as if finance ministers go round to people's home and hand them wads of cash. A person's salary doesn't alter because of this, unless they are paid directly by the state. Maybe we are talking about the money being made available to banks for lending?
You are right that increasing the money supply does not create inflation until the money is actually circulated. The current round of inflation is a result of distributing massive amounts of newly created dollars in COVID relief checks that spurred increased demands during a time of supply chain disruption and shortages. The predictable result is that the new money bid up the prices of the limited supply. Quantitative easing (more money creation) does devalue currency just as more water weakens tea.
They purchase bonds on the open market and put them on thre fed balance sheet. By purchasing bonds with new currency it is now in circulation. It finds its way into a bank account, then the bank lends out a portion of it, which gets spent somewhere and finds its way into another bank account. This continues until thr entire amount is locked up as reserves to guarantee the deposits, which now number 8-10 times the original amount of hard currency originally circulated.
@@fzqlcs It's considerably more complex than this. In a global economy the inflation that results from the creation of money by QE during a down turn or in this instance a pandemic should be considered the price that has to be paid for keeping the money supply during the period of instability under the normal operation money supply is created through the extension of credit not government action in a downturn all that is happening with good governance is that is being replaced by government lending through money creation. As the global economy is dominated by fiat currencies largely digital in construction and using a fractional reserve system to regulate money supply. When there is a shock to the economy there is an immediate reaction that results in a reduction in lending this causes a reduction in money supply and guess what the result is.... The alternative you may ask, gold or asset backed currency well in a downturn less economic activity results in less goods and services and with a fixed money supply guess what happens? The primary difference is that the effect can be controlled and those bumps and troughs smoothed out to a significant extent. The question is too much money being added to the economy in a specific currency can be answered by looking at the relative price of the currency in relation to other currencies, certainly in the short term at least obviously in the longer term there are other factors such as economic activity within those currency areas and commodity supply from those regions. This really is a case of damned if you do or don't but the least damaging disaster to the masses on balance still lay with additional money creation through QE particularly in a service economy. An example of the fluctuations in a currency with fixed supply that can be freely traded could be Bitcoin now in the last year that has fallen by price by in excess of half that could be considered as 100 percent inflation in the real world....
Recession is often the result of external factors, and it appears that the United States is losing its grip as a federal reserve currency. With a decreasing ability to control inflation and a reduction in stocks and oil trading, it seems that a new multilateral world order is on the horizon.
I'm sorry about that. It's really hard to beat the market as an ordinary investor. You don't have access to information that professionals have. So it's just better if you invest with a professional who knows how things work better.
Picking stocks is a risky thing to do, particularly for non-professionals. I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor, who has better knowledge of the market than I do, and I've been returning at least $38k every month. Just too bad I didn't learn the lesson early on.
I'm not one to give investment advice, because I believe everybody's situation is unique. However, I work with Julia Ann Finnicum , and all I can say is that she's really good at what she does.
Thanks, I just googled Julia Ann Finnicum and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.
Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
I'm not kidding when I say that the market crash and high inflation have me really stressed. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
I do agree and in my opinion, considering the world today, the implications of rising or declining rates, inflation, has minimal effects when it comes to trading the markets. It’s about knowing when to get in and get out which requires experience and basic knowledge of market structure. The markets is psychological, it’ll be suicidal to ignorantly get it. Better still, seek the help of a portfolio manager to passively earn and learn the markets at your pace.
@@joecaruso06 RIGHT! Markets are oceans not lakes. The prominence of basic or institutional financial managers cannot be overstated. Take myself, having faced my share of bad trades, Fortunately with the help of my Pm, I came to understand the essence of timing, capital, entry, exit, goal and how they each affect every asset. Currently hold a $415k portfolio averaging a 14% monthly roi in less than 7 quarters. - -so I do know the importance of basic knowledge and delegation.
I bought my first house in 1993 for $60,000 in a nice neighborhood in a small town, 30 miles outside a large city. I earned minimum wage when I got the mortgage with my wife, she also earned the same minimum wage ($5.25 per hour). Today, Zillow shows that $60,000 house is worth $170,000 a 183% increase. Minimum wage is now $7.25 per hour, a 38% increase. Today it would be impossible to buy that same house with minimum wage.
*Have you heard about "Trickle down" economics?* The right wing scam people like Milton and co was pushing? Well, the reason your example is true today is because a practical "Trickle down 2.0" is in effect, but it is in context of assets. People with the most assets, also lose the least during recessions and gain the most on upwards. Leading to a massive wealth discrepancy over time. Instead of "Lets have massive tax cuts for the rich, because they create jobs" (aka Trickle down 1,0, which is not true btw. Demand, creates jobs. Your mom shopping creates jobs etc), they switched it to "Those with the most assets, gain the most as well" (Trickle 2,0). Now think of that in context of your house. 183% increase, but its not just your house. It is billions worth of assets. Completed with shattered Unions and real wages not keeping up with inflation. Prices still going up and employers pocketing the difference themselves instead. You get trickle down 2,0 and massive unfair wealth share that is dwindling the middle class. Which ironically is the fuel for capitalism, aka macro demand. Without them, there is no capitalism. Yet these so called "pro capitalist" "experts" (Milton proclaimed wage would increase naturally with produktive, therefor no need for Unions for example, cant get more wrong than that in context of 3 decades of empirical evidence after the claim). Continue to push what I call "Siphon Economics" (benefits individual companies short term, at the cost of the nation and citizens in it) to this day, while not giving a rats A about new evidence, but keep posting this as if it has not been debunked.
@@Roadtripmik I remember 1997 very well, that year jobs were booming. I got my first break as fas as jobs go, $16 per hour as a mig welder in training, 64 hour weeks, double time pay after 45 hours. I had 3 paychecks in my wallet most days because I couldn't get to the bank before 5 pm. Great money, tired all the time. That job was a 10 minute drive from home. Good deal on your dads house, I see Philly tax is very low for such a huge city, 0.98% tax rate.
What jobs were you both doing for minimum wage? In my entire lifetime of 38 years, I think buying a home with two minimum wage jobs would have been damn near impossible. I'm not sure how anyone would have approved you both. note: minimum wage in 1993 was $4.25, which I guess just more proves your point.
@@colinjames9562 We both worked fast food jobs, no debt, $5k cash. Keep in mind, small town, early 1990s. Her aunt was a real estate agent, we was approved pretty easy. They made us put tax and insurance in escroweach month that the bank held until it was due each year. The bank was always late paying the money each year.
@@Dzvakangark Then you have cheaper money buy up way to many resources so prices go up and if you're just printing off money and making it cheap why would inflation stop? just take more money from the money tree. Then money loses all it's value unless you put interest rates way up. We need the gold standard and hopefully we will go back to it sooner rather than later.
My wifes Great Grand-Uncle made a good living out on the gold fields. He saved everything and then used that money to set up a little Grocery store that he then built into a supermarket. Many of the people who would have worked those fields and mines would have saved their money and used it for family reasons. There would have been a considerable number who did not save their money and would have wasted it and what they did was all about the nomatic work lifestyle.
Teringventje - True, and wealth redistribution was an idiotic idea then, as it is now. The free market punishes the vast majority of the "get rich quick" crowd. Some make it, the rest perish. Profit is just a result of steady growth and sustainability. It's like the parable of the "tortoise and the hare". Simple truths are timeless.
A number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850,000 before I turn 65, I would appreciate any advice on potential investments.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $750k in a little over a year, my adviser chooses entry and exit orders.
@@harwellron1289My advisor is Colleen Janie Towe, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@joshbarney114Thank you for this tip , I must say, Colleen appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
In the United States, year-on-year inflation stood at 6.5% in December 2022, the lowest figure in more than a year. Inflation was in line with economists' expectations and gave many reason to believe that peak inflation may be behind us. I have about $150,000 of stagnation in my portfolio that needs growth. What's the best way to take advantage of this downturn?
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing.
@@Curbalnk Do you mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.
Have you heard of "HEATHER ANN CHRISTENSEN? She gets featured regularly on CNBC. I myself use tax-deferred accounts to hold my investments. That way I avoid capital gains taxes. There are other options your advisor could brief you about.
@@Curbalnk Thank you. I just checked her out now and I've sent an email. I hope she gets back to me soon. I've been thinking of doing this for a long time now, and I've procrastinated enough already.
Of course it's not a fair match to put the most clever central bankers against the american middle and lower classes and see who ends up winning -- the bankers / fed and their cronies of course ;) by inflating the money and taxes, milking the cows, enslaving the sheeple. Theyll never give a sucker an even break;)
Not really true there is 0 evidence of that extra money in the pockets does not create inflation this is false 0 PROVE companies themselves decided to increase the cost of their goods in their own no due to the increase on the money supply Reply
Okay this is good, but With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy. How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits
You’re right! The current market might give opportunities to maximize profi.t, but in order to execute such effective transactions, you must be a skilled practitioner
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
There are a lot of independent advisors you might look into. But i work with Julie Anne Hoover and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her.
@@georgebarret Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@kenanporubsky2122 My advisor is Catherine Morrison Evansshe’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@lipglosskitten2610 I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
This video should be shown to everyone when they're in high school, so they know how money works when they graduate. Because the amount of grown adults today, whom are economically illiterate is quite staggering.
I genuinely think it's too late and voters are far, far too easily fooled. Blockchain is the answer now. Crypto is just better than fiat money and even the governments themselves are showing themselves to be iltimately unable to resist switching to it since they will need it to trade with other governments who aren't subject to their proclamations.
There are too many rich people (decision makers) who want to keep the masses economically illiterate so they can keep a vast majority of wealth for themselves and keep as many people at minimum wage as they can.
This is a complete mischaracterisatoon of how new money is added to the economy. It's added via commercial banks in the form of loans and mortgages, and not by the govetbment. The gov adds some money, covid and the 2009 crash being two examples, but in normal times, government don't add much money. But if you're against the government in principal, then this narrative suits your agenda.
@@mdaniels6311 Fractional reserve banking is enabled by government deposit insurance. The government and the Fed also issued the multi-trillion dollar stimulus that is on the verge of destroying our economy.
Watching old shows like this makes you realise how bad it has gotten. Every show now is in your face with telling you what to hate, rather than simply explaining how things work an letting you make up your own mind.
@@gooble69 the problem is that Milton has chosen to effectively mislead the viewer by omission in this case it isn't a problem with what he explains it what he chooses not to discuss that gives a lopsided view. If you are interested I'd be more than happy to point out some fairly obvious problems with this analysis however it is nuanced and complicated as so many things are.
The fin-Markets have underperformed the U.S. economy as fear of inflation hammers the prices of stocks and bonds. My $400,000 portfolio is down by approximately 25%, any recommendations to scale up my returns before will be highly appreciated.
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings,
@@Robertgriffinne Very true , I diversified my $250K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $450k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@Alejandracamacho357 How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@@PhilipMurray251 These days the best way to come into the market space is patience and seeking guidance when necessary, due to my line of work i can’t handle my portfolio so i just copy the trades of MARIA ELIZABETH FILINDRAS''', a brokerage advisor i saw on Bloomberg business news. It’s been smooth since then. I have saved myself from all the hassle that chaotic market causes.
I work in furniture and home repair in NYC, and get half my jobs through an app. Most of my clients terrify me in the way they spend. They're 22 years old, moving into their first apartment, and their parents ordered $$$$$ in furnishings before they've even moved in (queen bed, two nightstands, couch, coffee table, tv console, desk, bookcase, floating shelves, kitchen table, six chairs, mirrors, and a load of factory-made art to go on the wall). I get paid a fortune to assemble and hang, and the furniture is broken within two years. In my day, you furnished your first pad by dumpster diving, now it's Mom & Pop buying you everything. Even if the furniture prices are stable, the cost of shipping skyrockets. Two years later, when this furniture goes to the curb, it drives up the price of trash hauling (unless someone takes it and furnishes their first apartment with it!).
This is a tangent, but notice how healthy and lean everybody is in this video. Pretty shocking. Everybody has a normal BMI in this video, from the mom and dad to the union veterans to Milton himself.
Fatness inflation. It would be good to see the records for average BMI of that time and the number of fast food joints as well, to then see the correlation between fast food outlets and average BMI growth. I am sure there are other variables but that is the first that came to mind.
Mom is actually cooking a home meal and the kids are actually outside playing and people not sitting around on a computer! No Uber eats , rampant fast food every where with supersize meals and every snack know to mankind!
Here's a research project for you. Find pictures of what the inside of grocery stores (their products) looked like pre-1976. And, compare with what is offered for sale today. To really do it right, go right down to the product ingredients, for the comparison. I remember when people ate eggs for breakfast, but then the government told us that more than three-eggs per week were a certain heart-attack. Meanwhile, breakfast cereal sales exploded up. I wonder who motivated the government to weigh in on the topic of eggs?
This is a Classic. I have a great idea. Someone should redo this series similar to how Fox redid Cosmos. I believe it would be popular. Anyone else think this idea has merit?
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered." Thomas Jefferson, our 3rd President
Well that happened with the FED in 1913. It was a vote during the Christmas holiday where only a few congressmen were there to vote. It wasn't American Banks. It's how fractional banking began.
@@freegeorgia4808 yes,..Pres Woodrow Wilson was bought!.. he sold out on the American people.. signing off to privatise the Federal Reserve..BIGGEST MISTAKE. The word Federal, appearing on your notes is illusionary.. it’s a ruse.
Lol....Inflation is here on Biden's watch, but any real economist or educated person in finance would tell you that this inflation is caused by the ridiculously large money print/manifestation thar Trump into action when Covid hit. The Covid relief acts caused us to print 25% of all the money we've ever printed since the nation's birth in just one year. The effects of that in 2020 are the cause. It takes a year or two for the money to circulate fully into the system but here we are. I'm not saying it's Trumps fault either but it certainly isnt Biden's fault. I do however blame Trump for his dismissal of Covid until it was too late and it sunk in heavily.
A) Not the Mint. The Mint makes coins. It was the Bureau of Engraving and Printing. B) Neither the Mint nor the BEP decides how much physical money to make; they just make it to order. He wasn't criticising that.
J T Harvey czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation! . czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one . czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two . czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
My favorite Friedman quote was something along the lines of "if the U.S government were in charge of the Sahara desert it would be out of sand in 2 years "
J T Harvey czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation! . czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one . czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two . czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
@@raggedybritches5798 It's on the verge of being worse. Carter was a big spending stubborn humanitarian (using our money). He was in the wrong job. Biden is (let's face it) senile and he has some vile people running things in the background who want to turn the US into Venezuela.
@@stevelangstroth5833 I was born in 81 so didnt experience Carter as a sentient human but I agree that what's different this time is the brazen arrogance of those in the administration who want to fundamentally reshape our society and government. I guess I've now lived long enough to witness that freedom isn't free.
@@raggedybritches5798 After his Presidency, Carter worked for 'Habitat for Humanity'. That's a great organization and Carter did a wonderful job there. THAT was his calling in life. Being President was a side trip that he should have never made. He was a weak President and the Iranians took advantage of that. I watched that disaster unfold when I was a freshman at the University of Arizona. Carter's intentions were good, so the results were predictably bad. He will always be known for 'Stagflation'. Biden (and his puppet masters) have ill intent for the United States. They don't even hide that fact.
I have the book Free To Choose I bought in 1977 . I love Mr. Friedman , Thomas Sowell and Walter Williams. I spent my life making decisions I learned from these men. School did little for me. I am not rich but I have enough, God has blessed me and keeps me to this day. Run form the foolish, work hard and stay true to your heart. Look out for your neighbor.
This video debuted on youtube several years ago, when nobody seemed concerned about inflation. I hope this video gets noticed by the younger generation who are experiencing it for the first time. Being 64 years of age, I remember well the inflation of the 70's and how it impacted me when I began to work. Prior to that, it was a conversation topic for parents as they read the newspaper and scoured the sales sheets and ads for the cheapest prices on food. My first classes in economics in the mid seventies, focused strongly on this topic. My biggest fear in recent years was that inflation would return - and lo - right as I am about to retire, it has returned.
It is very political. It is called Political Economy. Friedman himself went out to suport chilean dictatorship because it applied his economical politics.
@@mpfilgueiras I didn’t catch that in this doc. What’s the time stamp? I’ll have to rewatch. I was solely talking about the direct nature of the info provided here. I am aware Milton Friedman had political leanings in his history but did not get that from this presentation.
@@mpfilgueiras This is simply untrue. He in no way supported the Chilean dictatorship and the assertion that he did is a dishonest attempt at character assassination. Cant refute his points so attempt to discredit him. Pathetic.
Man you have to miss someone like Milton Friedman. Amazing the quality of work he did in an era most people born after 2000 will never understand. Actually having to go into a library or travel to see and get information.
@@truemamrdi4all because higher wages that are the result of employee/ employer negotiations are a consentual contract approved by both parties. And in general the employer has the disposable funds to cover the extra pay without having to increases prices on the customers. Government mandated minimum wages take the consent and the negotiations out of the picture. Now the employee is forced to work for a minimum wage and the employer is forced to pay it, whether they can afford it or not, meaning the employer must raise prices on the customer. Higher prices on the same goods and services means your dollar is worth less that it was the day before, which is inflation. Have you really never noticed how much more expensive everything gets after a minimum wage increase happens?
@@KurNorock Actually no. I come from a country with miserable wages, where the minimum wage afflicts only thousands od workers. The only trouble is that indirectly the minimum wage Is able to shift the whole income landscape. Because of the inflation, even today the government is reluctant to move the minimum wage, as there is low unemployment and everyone believes that low unemployment and supply shock causes inflation :D
@@truemamrdi4all note imagine if there was NO minimum wage laws in your country. Your government wasn't telling employers what the lowest wage they could pay is. Now that means each employer has to compete for employees with other employers. You get to negotiate your wage instead of being forced to accept a standardized minimum. Imagine how much better off you would be.
It all started with Nixon taking the US off the gold standard. Previously, there could only be the amount of money in the economy that matched the gold reserves. Now, no coordination to the printed dollar to any value - just debt piling up on more debt.
@@eljamo93 Hes right about the Nixon Shock and severing of the U.S. dollar's ties to gold. Since then, the world's monetary system has consisted of mostly freely floating currencies. However, Friedman was one of the main architects of neoliberalism becoming mainstream. He was an advisor to Republican President Ronald Reagan and Conservative British Prime Minister Margaret Thatcher. His political philosophy extolled the virtues of a free market economic system with minimal government intervention in social matters. His ideas are what have us in this current mess of extreme inequality.
@@eljamo93 It's not a joke. In 1971 Nixon took the US off the gold standard. The dollar was no longer tied to the amount of gold we had and became a fiat currency, meaning the dollar was no longer backed by a commodity, gold. As a result, the Federal Reserve was able to print as much money as it wanted. Immediately inflation started.
@@paulmeeker1165 The US went off the gold standard in 1933, meaning debts could no longer be paid off in gold. This followed the UK which came off the gold standard in 1931. Nixon finally killed it off in 1971.
@@trytellingthetruth.2068 You're correct. Nixon severed any remaining tie the US dollar had to gold. But loosely stated, it can be said FDR and Nixon both ended the gold standard
12:20 I can imagine everybody in the mill rolling their eyes saying "Milton, I get you want to set a point, but you can't just do that without warning."
It's one thing to have the masses live through the ups and downs of the economy, it's another to realize that select few manage to make money, and lots of it, regardless.
no no, its not "regardless". they make it BECAUSE the masses are getting poorer. monopoly. to get more someone else needs to lose it. if we had a gold standard without central banks and people had full control over their money it wouldnt be possible for the super rich to plunder us. now they have so much power they deliberately bring about crisis to cash in.
Love Milton Friedman, he can explain complex subjects in a easy to understand manner and not be condescending. I watch his Free To Choose videos all the time to refresh my understanding.
J T Harvey czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation! . czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one . czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two . czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
5:51 - "The fact is that most people enjoy the early stages of the inflationary process." So, if I were a politician, I could just print 'stimulus' money to buy votes.
Yes...also the fallacy of the "wealth effect" where people have deluded themselves ( once again) that their primary residence really is worth 3x what they paid for it 5 years ago.
he did not explainvery well about the money supply is just simple said that more money in the market cause inlfation with no explanation for example in Venezuela right now the reason that it is a high inflation of 200% or more is due to the decrease on value of the currency and the increase on the money supply and the buying power of the Bolivar Venezulean currency it's value has decrease but the dollars right now is stronger than it was in 2001 and the dollar is even stronger after the pandemic
J T Harvey czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation! . czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one . czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two . czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
Yes, agreed, but political processes control the debate on inflation. This is why the U.S. with some success put control in the hands of bankers (the Federal Reserve) and not politicians (or printing press operators).
J T Harvey czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation! . czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one . czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
@@MFM230 the fed was setup by JP morgan and its a pyramid scheme bybthe oligarchs gtfoh. the fed IS the problem. have u missed them doing QE since 2008 FFS bailing out all the cronies??? huh??? thats not a free market and its entirely controlled by the ruling class skimming off the top of the money supply creation, which is why Rothschild famously said give me the power to control a nations currency/money supply and I care NOT who makes the LAWS their original mandate was to PREVENT inflation, not cause and "manage" it. ffs. we dont NEED it. we have the Treasury which we can audit and oversight. the fed is opaque and corrupt as fuck its a bankers mafia. wake the fuck up.
and ofc the great depression happened years after the fed created 1913 and they didnt do SHIT they helped cause the biggest fucking economic collapae in our history and apparently they want to do it again. have u been payin attention? its all politics when the oligarchs are shareholders in the fed banks FFS.
I actually met Milton Friedman and his wife Rose at a symphony performance in San Francisco. I had gone with a friend who was an economics professor at Cal state Hayward. During intermission he saw Milton and Rose and introduced me to them.
This is what's happening in Venezuela. The government is printing more money so they can pay their state employees. Their State Industries are not producing enough. But the government keeps printing more and more money.
The conspiracy theorists generally get a factual point then add up many kinds of artifacts and distortions. Yes, it is true the that US, along with the richest European nations, interfere considerably in every other "third world" country. But these "countries" came to be because of European colonization. There would be no industries, no machinery, no cars, no industrialized food or medication, no electricity, etc. in Africa or Latin America if not for the "first world" colonization. Now, I'm not saying this is good or bad, right or wrong, but just a matter of fact that what most people believe is a normal or decent style of living would be non-existent if not for US and European direct or indirect influence. The problem is that without foreign capital and influence, countries like Venezuela, Colombia, Brazil, would have serious drops in technological and industrialized goods. Left-wing politicians in Latin America are like rich rebellious teenage kids who see their parents as just an annoyance but fail to see that it's their parent's work that funds their bratty rich kids lifestyle (when that is the case, obviously). It is common for left-wing/nationalist partisans in Latin America to complain about European or North-American "imperialism" while at the same time making intense use of Facebook, iPhones, medication developed by American and European companies, refrigerators, ovens, tennis shoes, trains, busses, cars, smartphone apps, and several other things that people are completely CLUELESS that come directly from "the imperialists". Now, I have nothing, NOTHING, against people who actually live a more natural life, in the fields, or forests, or whatever, and who are "against the imperialists", but all these naive hypocrites, who are totally dependent on all sorts of machines, chemical substances, urban facilities, banks, etc. to believe that they can continue with this lifestyle without the influence and support from "their daddies"... these people are lame. It is true what the first commenter said, authoritarian governments try to increase power by augmenting their structure, hiring more government workers, increasing their salaries to make them more dependent, facilitating credit to poor segments of society, overall increasing the supply of money, which then increases the buying power of the population to higher rates than the development of the productive structure. These policies also end up transferring money outside the country, because so much of the products bought by the easy credit are provided by multinationals (cars, computers, phones; medication and even food). Many times these big corporations have tax exemptions, government subsidies, that indirectly makes it tougher for national industry development (and that is one factor that nationalists got right, even though it's something that's irreversible in the short term). The end matter is that, for these countries to be "strong nations", independent, they would need to go back in time and develop their technologies and industries and infrastructure independently. But that's somewhat of a paradox, because like I said, decades or even centuries ago, the people who developed technologies and infrastructure in these countries were either foreigners or connected to foreigners (Americans and Europeans). The natives in these countries have more tribal and simpler community cultures. The upper classes in these countries are mostly descendants of Europeans (although there are people from other ethnicity, like arabic or asian, who have risen to wealth due to all kinds of businesses possible by the capitalist structure, all kinds of commerce, services, trickery, etc.). It is a problem that capitalism favors certain types who are mostly viewed as "criminals" (liars, tricksters, defrauders, thieves, traffickers, etc.) but still, creative and industrious types of people, who actually create and develop societies, are mostly NOT natives of Africa and Latin America.
"Left with twelve thousands dollars, now that might seem like a lot" jesus was money really worth that much in 1980? Holy shit. That dude has a sweet house.
Look up the old PBS series he did called, "Free to Choose." At the time, this series had a decent audience as there was no cable TV. And was on PBS! Every administration since LBJ wanted him in theirs. He only worked as an adjunct for the Reagan admin. Point is: His theories were known and he was well known. But politicians and activist who followed the Keynesian economic theories, Socialists or were simply too naive to understand Friedman fought and fought against his theories because that is where they established their base and power. And it still goes on today.
@@midway27272727 No phones, no laptops, old furniture, living on mostly canned food, life expectancy then was far lower, asbestos in the walls. You can live like they did in the 60s with their quality of life. Just remember though, its the 60s.
@@edwardheaney3641It was taking place in the mid 70s. The old furniture to us now was new back then to them? I grew up during that time, seldom eat canned food, family cooked a lot of home meals, close neighborhoods, BBQs had a great time back then. Times were a lot easier for us. Don't judge an entire decade on one families interview. Same as now, some people having a tough time, others planned accordingly and it's really easy times.
@@user-xx5-5885 That's a big clam The USA Biden ,/Bush .. The good guys He lived through the depression Now So much government global warming con ,, Europe Problems are the Worlds problems
J T Harvey czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation! . czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one . czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two . czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
When I was in College we had a brief spate of Runaway Inflation (5 years, 1973-78). It took $1.46 in 1978 to buy what $1.00 bought in 1973! A spate like that today would be horrific and shock those of us too young to remember what it was like. By World Standards our "1970's Inflation" was minor, but in our current economy it would be devastating to many people.
True and that's why it has become almost impossible to make it without 2 or 3 jobs in single family household. But, early on those who did this made out until the economy realized the existence of this second earner and prices started rising to that level. I remember my dad complaining about a $140 mortgage. We today cannot even conceive of mortgage like that.
When I was 7yo in 1973, my dad wanted to buy the old house next door to stop another neighbour buying, knocking down and building 2 new houses there. He had the asking price of $11,700 but it sold for $13,000. Now 45 years later the value has risen to $1.1M. That's an annual average of 11% inflation. And this is normal city outer-suburbia not a beachfront mecca. This is the result of debt and credit becoming the new currency.
Cassette Walkman, also, here's a thought. Who does inflation really hurt, the person borrowing the money to buy an inflating thing or the person lending the money that is losing it's value?
We can again J T Harvey czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation! . czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one . czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two . Minsky at Westminster 1991 czcams.com/video/FLi2wdSA66A/video.html .
history doesnt repeat but it rhymes. Milton shows us his study and appreciation of history to help understand inflation. I wish our central bankers were made to study financial history prior to being appointed.
Yeah I really liked how he explained different historical examples. Way better than just blaming it on one thing, even though that's kind of what he ended up doing. But I still like his explanation.
We need to get this video trending on youtube's front page. Everyone that sees this needs to hit like, comment, and share. When you watch the news today they act like this is all new, but it isn't. It's taxation without representation.
Milton was awarded the Nobel Prize because of his work. He and I share the same Birth Date - 7/31 and although he has passed, his "Free to Chose" will live on as a marker for economics.
J T Harvey czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation! . czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one . czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two . czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
Nevertheless, when he assigns inflation to washington alone, his faulty economic assumptions begin to lead him astray. I am willing to discuss why Milton Friedman is wrong with any serious person who is willing to do high-school math.
Inflation is just another form of taxation. When the government keeps printing money out of thin air the money you got its worth less.. If you want to build wealth your money has to grow faster than inflation. Which is even harder if almost half of what I earn goes to taxes.
the good thing about inflation is it reduces the burden of debt. borrow $100 today and pay it back as 100 less worth dollars tomorrow, what would equal, for arguments sake, $90. also, it spreads the tax burden among everyone in much the same way as a flat tax would. inflation isn't a problem so much as lack of productivity is.
Well here in June 2022, this aged well. Once again, DC is spending beyond their means, requiring mass printing of money, driving down the value of the dollars in circulation. This affects only the lower and middle classes because the rich have other forms of investments that are not pegged to the dollar.
Incorrect. The rich in the US have inflation-neutral investments. Mostly because they have so much money that what they're living on is a drop in the bucket of their wealth. Not talking about Bezos. Talking about the millions of people in the top 5 or 10 percent
@@DAG_42 Incorrect, I hold investments that have more than overcome the effects of inflation and the slope of this trend has become even steeper since inflation started accelerating. For example, more people are fleeing blue states and moving to red states to reduce their exposure to inflation. This has caused my Florida and Texas real estate holdings to appreciate even faster than they otherwise would.
@@AaronHollander314 Good thing I offloaded half of it already in the past 6 months. Moved to gold and survival goods. Will offset any losses that could possibly occur.
The best part was how Bob managed to take care of a wife, a house, a cat, and three kids for 12000$ a year. He probably wouldn't be thrilled to see that the inflation that affected him back then didn't get better since, to say the least.
+Ranee MacIntosh It did get better. Inflation in the late 70s (when this was filmed) was very bad, 10% a year. Today, for the last decade, it has been under 2%
***** if you know basic macroeconomics then you should know what an mp curve looks like. inflation is under 2% because the interest rates are under 2%. But the int rates being so low causes other problems is what i'm saying, such as inflation, increase in the cost of homes, etc. basically, the fed doesn't do its job properly
He's not necessarily against the printing of money. Just the irresponsible printing of it. He had a great respect for the fed, but wouldn't hesitate to point out its flaws.
One thing I've never been entirely clear on is what exactly people mean by "the money supply," or "printing money." Obviously I understand the process practically, and the premise of its effects on inflation, but I can't join the dots in my mind between physical money being printed, and the amounts of money ending up in people's bank accounts. When they say that quantitative easing results in more money being in the economy and thus lowering the value of a currency / creating inflation, how does the money being printed find its way into the money supply? It isn't as if finance ministers go round to people's home and hand them wads of cash. A person's salary doesn't alter because of this, unless they are paid directly by the state. Maybe we are talking about the money being made available to banks for lending?
You are right that increasing the money supply does not create inflation until the money is actually circulated. The current round of inflation is a result of distributing massive amounts of newly created dollars in COVID relief checks that spurred increased demands during a time of supply chain disruption and shortages. The predictable result is that the new money bid up the prices of the limited supply. Quantitative easing (more money creation) does devalue currency just as more water weakens tea.
They purchase bonds on the open market and put them on thre fed balance sheet. By purchasing bonds with new currency it is now in circulation. It finds its way into a bank account, then the bank lends out a portion of it, which gets spent somewhere and finds its way into another bank account. This continues until thr entire amount is locked up as reserves to guarantee the deposits, which now number 8-10 times the original amount of hard currency originally circulated.
Correct on the bonds. Open Market Activity is the term. The Fed also changes the required minimum cash reserves banks must have in hand
@@fzqlcs It's considerably more complex than this. In a global economy the inflation that results from the creation of money by QE during a down turn or in this instance a pandemic should be considered the price that has to be paid for keeping the money supply during the period of instability under the normal operation money supply is created through the extension of credit not government action in a downturn all that is happening with good governance is that is being replaced by government lending through money creation. As the global economy is dominated by fiat currencies largely digital in construction and using a fractional reserve system to regulate money supply. When there is a shock to the economy there is an immediate reaction that results in a reduction in lending this causes a reduction in money supply and guess what the result is.... The alternative you may ask, gold or asset backed currency well in a downturn less economic activity results in less goods and services and with a fixed money supply guess what happens? The primary difference is that the effect can be controlled and those bumps and troughs smoothed out to a significant extent. The question is too much money being added to the economy in a specific currency can be answered by looking at the relative price of the currency in relation to other currencies, certainly in the short term at least obviously in the longer term there are other factors such as economic activity within those currency areas and commodity supply from those regions. This really is a case of damned if you do or don't but the least damaging disaster to the masses on balance still lay with additional money creation through QE particularly in a service economy. An example of the fluctuations in a currency with fixed supply that can be freely traded could be Bitcoin now in the last year that has fallen by price by in excess of half that could be considered as 100 percent inflation in the real world....
Capitalism is state sponsored usury and economic alchemy
Recession is often the result of external factors, and it appears that the United States is losing its grip as a federal reserve currency. With a decreasing ability to control inflation and a reduction in stocks and oil trading, it seems that a new multilateral world order is on the horizon.
I'm sorry about that. It's really hard to beat the market as an ordinary investor. You don't have access to information that professionals have. So it's just better if you invest with a professional who knows how things work better.
Picking stocks is a risky thing to do, particularly for non-professionals. I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor, who has better knowledge of the market than I do, and I've been returning at least $38k every month. Just too bad I didn't learn the lesson early on.
I'm not one to give investment advice, because I believe everybody's situation is unique. However, I work with Julia Ann Finnicum , and all I can say is that she's really good at what she does.
Thanks, I just googled Julia Ann Finnicum and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.
RICHESSION OR RICHSESSION
Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
I'm not kidding when I say that the market crash and high inflation have me really stressed. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
I do agree and in my opinion, considering the world today, the implications of rising or declining rates, inflation, has minimal effects when it comes to trading the markets. It’s about knowing when to get in and get out which requires experience and basic knowledge of market structure. The markets is psychological, it’ll be suicidal to ignorantly get it. Better still, seek the help of a portfolio manager to passively earn and learn the markets at your pace.
@@joecaruso06 RIGHT! Markets are oceans not lakes. The prominence of basic or institutional financial managers cannot be overstated. Take myself, having faced my share of bad trades, Fortunately with the help of my Pm, I came to understand the essence of timing, capital, entry, exit, goal and how they each affect every asset. Currently hold a $415k portfolio averaging a 14% monthly roi in less than 7 quarters. - -so I do know the importance of basic knowledge and delegation.
@@maryalchester How to get in touch?
@@maryalchester Hold on, the portfolio manager with Morgan stanley? Was recently on a finup with Tate?
I bought my first house in 1993 for $60,000 in a nice neighborhood in a small town, 30 miles outside a large city. I earned minimum wage when I got the mortgage with my wife, she also earned the same minimum wage ($5.25 per hour). Today, Zillow shows that $60,000 house is worth $170,000 a 183% increase. Minimum wage is now $7.25 per hour, a 38% increase. Today it would be impossible to buy that same house with minimum wage.
*Have you heard about "Trickle down" economics?*
The right wing scam people like Milton and co was pushing? Well, the reason your example is true today is because a practical "Trickle down 2.0" is in effect, but it is in context of assets. People with the most assets, also lose the least during recessions and gain the most on upwards. Leading to a massive wealth discrepancy over time. Instead of "Lets have massive tax cuts for the rich, because they create jobs" (aka Trickle down 1,0, which is not true btw. Demand, creates jobs. Your mom shopping creates jobs etc), they switched it to "Those with the most assets, gain the most as well" (Trickle 2,0).
Now think of that in context of your house. 183% increase, but its not just your house. It is billions worth of assets.
Completed with shattered Unions and real wages not keeping up with inflation. Prices still going up and employers pocketing the difference themselves instead. You get trickle down 2,0 and massive unfair wealth share that is dwindling the middle class. Which ironically is the fuel for capitalism, aka macro demand. Without them, there is no capitalism. Yet these so called "pro capitalist" "experts" (Milton proclaimed wage would increase naturally with produktive, therefor no need for Unions for example, cant get more wrong than that in context of 3 decades of empirical evidence after the claim). Continue to push what I call "Siphon Economics" (benefits individual companies short term, at the cost of the nation and citizens in it) to this day, while not giving a rats A about new evidence, but keep posting this as if it has not been debunked.
My dad bought a house in Philadelphia in 1997 for $85k and now its worth $600k because of gentrification
@@Roadtripmik I remember 1997 very well, that year jobs were booming. I got my first break as fas as jobs go, $16 per hour as a mig welder in training, 64 hour weeks, double time pay after 45 hours. I had 3 paychecks in my wallet most days because I couldn't get to the bank before 5 pm. Great money, tired all the time. That job was a 10 minute drive from home. Good deal on your dads house, I see Philly tax is very low for such a huge city, 0.98% tax rate.
What jobs were you both doing for minimum wage? In my entire lifetime of 38 years, I think buying a home with two minimum wage jobs would have been damn near impossible. I'm not sure how anyone would have approved you both.
note: minimum wage in 1993 was $4.25, which I guess just more proves your point.
@@colinjames9562 We both worked fast food jobs, no debt, $5k cash. Keep in mind, small town, early 1990s. Her aunt was a real estate agent, we was approved pretty easy. They made us put tax and insurance in escroweach month that the bank held until it was due each year. The bank was always late paying the money each year.
You know hard times are coming when you get this video on your recommendations 😬
Dems are back baby. Had your wallets
Fuck yeah
it's not explicitly stated in there but inflation is also an indirect tax on savings.
That's too obvious to state
Can be viewed that way yes, but it’s also a forced incentive to re-invest those savings thus further stimulating the economy.
@john k Not only that, that you saved it in the currency that is being inflated. You can save in a different one and voila!
@john k or in a bank account with a lower than inflation interest rate...
@@Dzvakangark
Then you have cheaper money buy up way to many resources so prices go up and if you're just printing off money and making it cheap why would inflation stop? just take more money from the money tree.
Then money loses all it's value unless you put interest rates way up.
We need the gold standard and hopefully we will go back to it sooner rather than later.
Everybody was looking to strike it rich, but the guy who made out well was selling shovels and equipment.
AND jeans... Levi strauss.
Or the builders who made the towns.
everyone in those towns were mining miners
My wifes Great Grand-Uncle made a good living out on the gold fields. He saved everything and then used that money to set up a little Grocery store that he then built into a supermarket.
Many of the people who would have worked those fields and mines would have saved their money and used it for family reasons.
There would have been a considerable number who did not save their money and would have wasted it and what they did was all about the nomatic work lifestyle.
Teringventje - True, and wealth redistribution was an idiotic idea then, as it is now. The free market punishes the vast majority of the "get rich quick" crowd. Some make it, the rest perish. Profit is just a result of steady growth and sustainability. It's like the parable of the "tortoise and the hare". Simple truths are timeless.
A number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850,000 before I turn 65, I would appreciate any advice on potential investments.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $750k in a little over a year, my adviser chooses entry and exit orders.
@@joshbarney114 Mind if I ask you recommend this particular professional you use their service? i have quite a lot of financial problems.
@@harwellron1289My advisor is Colleen Janie Towe, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@joshbarney114Thank you for this tip , I must say, Colleen appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
In the United States, year-on-year inflation stood at 6.5% in December 2022, the lowest figure in more than a year. Inflation was in line with economists' expectations and gave many reason to believe that peak inflation may be behind us. I have about $150,000 of stagnation in my portfolio that needs growth. What's the best way to take advantage of this downturn?
consider financial planning
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing.
@@Curbalnk Do you mind sharing info on the adviser who assisted you? been saving for pension since age 18 - company scheme. along the way I hit higher tax, so I added to my company pension with a SIPP (tax benefits) I'm 46 now and would love to grow my finance more aggressively, there are a few cars I still wish to drive, a few mega holidays, etc.
Have you heard of "HEATHER ANN CHRISTENSEN? She gets featured regularly on CNBC. I myself use tax-deferred accounts to hold my investments. That way I avoid capital gains taxes. There are other options your advisor could brief you about.
@@Curbalnk Thank you. I just checked her out now and I've sent an email. I hope she gets back to me soon. I've been thinking of doing this for a long time now, and I've procrastinated enough already.
I got an undergraduate degree in International Business. But I've learnt more on youtube in 6 months than in did during my 3 years there.
@Mdmchannel says who? How do you think I padded my resume with experience 🤣😎 #youtubewatcher
Mdmchannel but you should be able to
Same here
😭
Same as. Buy bitcoin cash.
>watches milton friedman for 15 minutes
>knowledge is power
amen to that
A little surprised the bait hasn't been taken in the years since you commented
Of course it's not a fair match to put the most clever central bankers against the american middle and lower classes and see who ends up winning -- the bankers / fed and their cronies of course ;) by inflating the money and taxes, milking the cows, enslaving the sheeple. Theyll never give a sucker an even break;)
Jeffrey Stevens he defends the Rockefellers. Dont forget that. The Federal Reserve and the Corporations are Very Powerful
David A im 27 years old and i figured out their Scam almost 2 years ago. I wish i had parents that taught me about it.
I love how Milton made everything in economics simple
Not really true there is 0 evidence of that extra money in the pockets does not create inflation this is false 0 PROVE companies themselves decided to increase the cost of their goods in their own no due to the increase on the money supply
Reply
Okay this is good, but With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy. How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits
You’re right! The current market might give opportunities to maximize profi.t, but in order to execute such effective transactions, you must be a skilled practitioner
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
@@georgebarret Impressive! who is this individual guiding you? I lost over $40k just last week, so I’m in dire need of a financial-planner.
There are a lot of independent advisors you might look into. But i work with Julie Anne Hoover and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her.
@@georgebarret Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Hitman sent by the government to end Friedman at 11:48.....but recognizes the camera and aborts the mission.
Bmayo27 LOL You are very observant!
😱
Wow!
Bmayo27 freidman defends the Rockefellers. Dont worry, they would never let him go
By which government??
Some say that Bob Crawford is still working on that 1978 tax return to this day....
$18,000 in 1978 would be $70,000 today...ole' Bob wasn't doing too bad for himself in the Tool & Die business.
@@Zartoo_3rd_Overlord_ofBlargon7 skills pay the bills
@@SoTrue144 The Beastie Boys could have sung a rhyme for old Bob Crawford.
Tool making was a highly skilled engineering job. But it moved to the East by the late 80s along with most industries.
@@davidfloren5339 The three bad brothers you know so well? 🤔😉
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@lipglosskitten2610 Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person
@@kenanporubsky2122 My advisor is Catherine Morrison Evansshe’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@lipglosskitten2610 I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
This video should be shown to everyone when they're in high school, so they know how money works when they graduate.
Because the amount of grown adults today, whom are economically illiterate is quite staggering.
I genuinely think it's too late and voters are far, far too easily fooled. Blockchain is the answer now. Crypto is just better than fiat money and even the governments themselves are showing themselves to be iltimately unable to resist switching to it since they will need it to trade with other governments who aren't subject to their proclamations.
There are too many rich people (decision makers) who want to keep the masses economically illiterate so they can keep a vast majority of wealth for themselves and keep as many people at minimum wage as they can.
@@buicklincoln you wouldn't be thinking like so have you had money yourself.
This is a complete mischaracterisatoon of how new money is added to the economy. It's added via commercial banks in the form of loans and mortgages, and not by the govetbment. The gov adds some money, covid and the 2009 crash being two examples, but in normal times, government don't add much money.
But if you're against the government in principal, then this narrative suits your agenda.
@@mdaniels6311 Fractional reserve banking is enabled by government deposit insurance. The government and the Fed also issued the multi-trillion dollar stimulus that is on the verge of destroying our economy.
I like documentaries like this, without people sticking their fake emotions into the subject
Watching old shows like this makes you realise how bad it has gotten. Every show now is in your face with telling you what to hate, rather than simply explaining how things work an letting you make up your own mind.
Exactly. Docs today exist to sell merch - they're like long commercials.
Docs used to primarily "educate" not "emote".
thank you xx exactly my thoughts.
@@gooble69 the problem is that Milton has chosen to effectively mislead the viewer by omission in this case it isn't a problem with what he explains it what he chooses not to discuss that gives a lopsided view. If you are interested I'd be more than happy to point out some fairly obvious problems with this analysis however it is nuanced and complicated as so many things are.
BUT WHAT ABOUT RACISMISMS AND PROTECTING THE CHILDRENSES
I want crocodile money.
Buy a handbag with it.
The govt has it and so they cry crocodile tears over your problems 😀
The fin-Markets have underperformed the U.S. economy as fear of inflation hammers the prices of stocks and bonds. My $400,000 portfolio is down by approximately 25%, any recommendations to scale up my returns before will be highly appreciated.
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings,
@@Robertgriffinne Very true , I diversified my $250K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $450k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@Alejandracamacho357 How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
@@PhilipMurray251 These days the best way to come into the market space is patience and seeking guidance when necessary, due to my line of work i can’t handle my portfolio so i just copy the trades of MARIA ELIZABETH FILINDRAS''', a brokerage advisor i saw on Bloomberg business news. It’s been smooth since then. I have saved myself from all the hassle that chaotic market causes.
@@Alejandracamacho357 I just looked up Maria online and researched her accreditation. She seem very proficient, I wrote her and scheduled a call.
I work in furniture and home repair in NYC, and get half my jobs through an app. Most of my clients terrify me in the way they spend. They're 22 years old, moving into their first apartment, and their parents ordered $$$$$ in furnishings before they've even moved in (queen bed, two nightstands, couch, coffee table, tv console, desk, bookcase, floating shelves, kitchen table, six chairs, mirrors, and a load of factory-made art to go on the wall). I get paid a fortune to assemble and hang, and the furniture is broken within two years. In my day, you furnished your first pad by dumpster diving, now it's Mom & Pop buying you everything. Even if the furniture prices are stable, the cost of shipping skyrockets. Two years later, when this furniture goes to the curb, it drives up the price of trash hauling (unless someone takes it and furnishes their first apartment with it!).
This man MUST be taught in EVERY AMERICAN SCHOOL!
fhhfgj isn’t he? We read about him here in Sweden when I studied economy at university.
although he did ruin the world as the US presdietns followed his advice even Obama & Trump did.
This is a tangent, but notice how healthy and lean everybody is in this video. Pretty shocking. Everybody has a normal BMI in this video, from the mom and dad to the union veterans to Milton himself.
Fatness inflation. It would be good to see the records for average BMI of that time and the number of fast food joints as well, to then see the correlation between fast food outlets and average BMI growth. I am sure there are other variables but that is the first that came to mind.
Mom is actually cooking a home meal and the kids are actually outside playing and people not sitting around on a computer! No Uber eats , rampant fast food every where with supersize meals and every snack know to mankind!
Here's a research project for you. Find pictures of what the inside of grocery stores (their products) looked like pre-1976. And, compare with what is offered for sale today. To really do it right, go right down to the product ingredients, for the comparison.
I remember when people ate eggs for breakfast, but then the government told us that more than three-eggs per week were a certain heart-attack. Meanwhile, breakfast cereal sales exploded up. I wonder who motivated the government to weigh in on the topic of eggs?
@@JoaquinCorreaDrums This is truly a time of "inflation". (pun intended)
They were eating full fat everything, but far less processed sugar and preservatives.
We need someone in our generation to be the new Milton Friedman
We need someone with a time machine to abort Friedman in utero.
No we don't. His ideas are the reason why the world is in the shambles it's in.
His name is Thomas Sowell.
Milton Friedman was a “macro”fiscal genius.
Let’s just remove the word “fiscal”.
Nothing you said was incorrect. He is simply a genius.
@@rickspringfield9394 Let’s insert “macro”.
Milton Friedman his favourite country was very poor Chile! Chile tried this free economy and now Chile is only 58th richest country!!
2022 is like "here, 1970's inflation hold my beer!"
This is a Classic. I have a great idea. Someone should redo this series similar to how Fox redid Cosmos. I believe it would be popular. Anyone else think this idea has merit?
2krisko
Peter Schiff?
Check out "Free or equal" by Johan Norberg! He revisits Miltons series "Free to chose". It's a nice modern take on it.
I wouldn't mind seeing Mark Blyth try it.
perhaps Thomas Sowell could fill that role, although he is as of today over 87 years old and probably uninterested in becoming a public figure.
John Stossel is another good choice!
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."
Thomas Jefferson, our 3rd President
Well that happened with the FED in 1913. It was a vote during the Christmas holiday where only a few congressmen were there to vote. It wasn't American Banks. It's how fractional banking began.
As opposed to tyrannical govt which is a way better idea, yeah?
heh, leftist.
WEF - you will own nothing and be happy.
@@freegeorgia4808 yes,..Pres Woodrow Wilson was bought!.. he sold out on the American people.. signing off to privatise the Federal Reserve..BIGGEST MISTAKE.
The word Federal, appearing on your notes is illusionary.. it’s a ruse.
@@Anita95_original said every communist ever
Who's here in the days of Bidenflation?
You mean the inflation trump started and biden continued?
I wonder were old Bob Crawford is today?
Lol....Inflation is here on Biden's watch, but any real economist or educated person in finance would tell you that this inflation is caused by the ridiculously large money print/manifestation thar Trump into action when Covid hit. The Covid relief acts caused us to print 25% of all the money we've ever printed since the nation's birth in just one year. The effects of that in 2020 are the cause. It takes a year or two for the money to circulate fully into the system but here we are. I'm not saying it's Trumps fault either but it certainly isnt Biden's fault. I do however blame Trump for his dismissal of Covid until it was too late and it sunk in heavily.
Priceof mint choc-chip ice cream at an all time low, though. 😂
I like how the Mint just lets Milton Friedman go into where they are printing money to pound the stop button and criticize their operation.
No. Permission was asked and granted long before the filming ever, ever started.
A) Not the Mint. The Mint makes coins. It was the Bureau of Engraving and Printing. B) Neither the Mint nor the BEP decides how much physical money to make; they just make it to order. He wasn't criticising that.
J T Harvey
czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation!
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czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one
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czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
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czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
The line gets stopped routinely for maintenance, etc. Might as well let him hit the button on that particular shift.
My favorite Friedman quote was something along the lines of "if the U.S government were in charge of the Sahara desert it would be out of sand in 2 years "
😂
Eeewwwww. That's rich. No pun intended. Good quote.
“If you put the federal government in charge of the Sahara Desert, in five years there’d be a shortage of sand.”
J T Harvey
czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation!
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czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one
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czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
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czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
I'd say it's true for most western nations, people in charge doesn't see further than their noses.
I watched this in 1980 (amid the Carter Era 'Stagflation'). It greatly impressed me then. It greatly impresses me, now in 2022.
What a time warp! Does it feel worse now or then?
@@raggedybritches5798 It's on the verge of being worse. Carter was a big spending stubborn humanitarian (using our money). He was in the wrong job. Biden is (let's face it) senile and he has some vile people running things in the background who want to turn the US into Venezuela.
@@stevelangstroth5833 I was born in 81 so didnt experience Carter as a sentient human but I agree that what's different this time is the brazen arrogance of those in the administration who want to fundamentally reshape our society and government. I guess I've now lived long enough to witness that freedom isn't free.
@@raggedybritches5798 After his Presidency, Carter worked for 'Habitat for Humanity'. That's a great organization and Carter did a wonderful job there. THAT was his calling in life. Being President was a side trip that he should have never made. He was a weak President and the Iranians took advantage of that. I watched that disaster unfold when I was a freshman at the University of Arizona. Carter's intentions were good, so the results were predictably bad. He will always be known for 'Stagflation'. Biden (and his puppet masters) have ill intent for the United States. They don't even hide that fact.
I have the book Free To Choose I bought in 1977 . I love Mr. Friedman , Thomas Sowell and Walter Williams. I spent my life making decisions I learned from these men. School did little for me. I am not rich but I have enough, God has blessed me and keeps me to this day. Run form the foolish, work hard and stay true to your heart. Look out for your neighbor.
This video debuted on youtube several years ago, when nobody seemed concerned about inflation. I hope this video gets noticed by the younger generation who are experiencing it for the first time.
Being 64 years of age, I remember well the inflation of the 70's and how it impacted me when I began to work. Prior to that, it was a conversation topic for parents as they read the newspaper and scoured the sales sheets and ads for the cheapest prices on food. My first classes in economics in the mid seventies, focused strongly on this topic. My biggest fear in recent years was that inflation would return - and lo - right as I am about to retire, it has returned.
The younger generation doesn’t care, they blame capitalism and want Marxism, socialism or communism in its place.
inflation is taxation without representation
i pray for you because inflation affects those with fixed income the most
1980, Funny how monetarist Dr. Friedman was most famous immediately during and after the late 70s early 80s inflation.
Covid is an excuse for the government to hike inflation again. The government never lets a crisis gone to waste.
12:31 - He can hardly contain his pleasure with just having stopped the printing press :)
The mans face when he looks up lol
I like how it’s not political. It’s just the facts and uses real examples to support the data. We need more of this these days.
It is very political. It is called Political Economy. Friedman himself went out to suport chilean dictatorship because it applied his economical politics.
People today want free sh*t, not facts...
@@mpfilgueiras Your comment is pure sophistry and BS...
@@mpfilgueiras I didn’t catch that in this doc. What’s the time stamp? I’ll have to rewatch. I was solely talking about the direct nature of the info provided here. I am aware Milton Friedman had political leanings in his history but did not get that from this presentation.
@@mpfilgueiras This is simply untrue. He in no way supported the Chilean dictatorship and the assertion that he did is a dishonest attempt at character assassination. Cant refute his points so attempt to discredit him. Pathetic.
Man you have to miss someone like Milton Friedman. Amazing the quality of work he did in an era most people born after 2000 will never understand. Actually having to go into a library or travel to see and get information.
Ch ch ch ch changes
You will never understand this.
Cum
@@lpschaf8943 Where does this come from? A comercial?
@@rafaelbraganca7234 David Bowie
@@lpschaf8943 Thats it, thank you. i wasnt beeing able to place it :🤗
Venezuela didn't watch this video.
The hundred capitalist countries dying on their arse did.
...and neither did Argentina!
+Cockoff Gewgle
You're an absolute fucking moron.
@@juanme555 Straight up
@@cockoffgewgle4993 You mean those countries that have relatively stable currencies and economic growth? Yeah sounds terrible.
10:50 “And he’s right, higher wages are mostly a result of inflation rather than a cause of it.”
Unless you are talking about government mandated minimum wages.
@@KurNorock which Is different how?
@@truemamrdi4all because higher wages that are the result of employee/ employer negotiations are a consentual contract approved by both parties. And in general the employer has the disposable funds to cover the extra pay without having to increases prices on the customers.
Government mandated minimum wages take the consent and the negotiations out of the picture. Now the employee is forced to work for a minimum wage and the employer is forced to pay it, whether they can afford it or not, meaning the employer must raise prices on the customer. Higher prices on the same goods and services means your dollar is worth less that it was the day before, which is inflation.
Have you really never noticed how much more expensive everything gets after a minimum wage increase happens?
@@KurNorock Actually no. I come from a country with miserable wages, where the minimum wage afflicts only thousands od workers. The only trouble is that indirectly the minimum wage Is able to shift the whole income landscape. Because of the inflation, even today the government is reluctant to move the minimum wage, as there is low unemployment and everyone believes that low unemployment and supply shock causes inflation :D
@@truemamrdi4all note imagine if there was NO minimum wage laws in your country. Your government wasn't telling employers what the lowest wage they could pay is. Now that means each employer has to compete for employees with other employers. You get to negotiate your wage instead of being forced to accept a standardized minimum. Imagine how much better off you would be.
Sad this was obvious in 1980 and we're revisiting it in 2022. Politicians are wonderful.
It’s intentional, no doubt.
It all started with Nixon taking the US off the gold standard. Previously, there could only be the amount of money in the economy that matched the gold reserves. Now, no coordination to the printed dollar to any value - just debt piling up on more debt.
Is this a joke?
@@eljamo93 Hes right about the Nixon Shock and severing of the U.S. dollar's ties to gold. Since then, the world's monetary system has consisted of mostly freely floating currencies. However, Friedman was one of the main architects of neoliberalism becoming mainstream. He was an advisor to Republican President Ronald Reagan and Conservative British Prime Minister Margaret Thatcher. His political philosophy extolled the virtues of a free market economic system with minimal government intervention in social matters. His ideas are what have us in this current mess of extreme inequality.
@@eljamo93 It's not a joke. In 1971 Nixon took the US off the gold standard. The dollar was no longer tied to the amount of gold we had and became a fiat currency, meaning the dollar was no longer backed by a commodity, gold. As a result, the Federal Reserve was able to print as much money as it wanted. Immediately inflation started.
@@paulmeeker1165
The US went off the gold standard in 1933, meaning debts could no longer be paid off in gold. This followed the UK which came off the gold standard in 1931.
Nixon finally killed it off in 1971.
@@trytellingthetruth.2068 You're correct. Nixon severed any remaining tie the US dollar had to gold. But loosely stated, it can be said FDR and Nixon both ended the gold standard
12:20
I can imagine everybody in the mill rolling their eyes saying "Milton, I get you want to set a point, but you can't just do that without warning."
the mint*
And here we are in 2022. The same problem perpetrated by the same people.
ahhhh yeah, arabs + oil, same in 70/80s as today.
you nailed it!
heh...
Here is one difference. They don't even need to turn on those presses nowadays. The just type few zeros into the computer.
It's one thing to have the masses live through the ups and downs of the economy, it's another to realize that select few manage to make money, and lots of it, regardless.
no no, its not "regardless". they make it BECAUSE the masses are getting poorer. monopoly. to get more someone else needs to lose it. if we had a gold standard without central banks and people had full control over their money it wouldnt be possible for the super rich to plunder us. now they have so much power they deliberately bring about crisis to cash in.
I don't know about you all, but when he pressed the button to stop the printing presses, I felt calmer for like a minute.
Watching in 2022. Im 54. Never thought Id see this type of inflation again
Funny how life repeats itself, huh?
Clearly our politicians are as stupid and corrupt now as they were in the 70's.
Milton looked so happy to hit the stop button. What a guy :)
Genius, Brilliant Milton Friedman! Simple and short explanation!
And his disciple, Dr Thomas Sowell, is equally good.
Love Milton Friedman, he can explain complex subjects in a easy to understand manner and not be condescending. I watch his Free To Choose videos all the time to refresh my understanding.
czcams.com/video/FATQ0Yf0Fhc/video.html
That grin on his face at 12:17 😂
I love this man. Rest In Peace
he was happier after stopping the press!!!
I miss him.. Except for Thomas Sowell, there is no one like him today
You should check out John Stossel. He's no replacement but still really good.
J T Harvey
czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation!
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czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one
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czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
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czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
Thomas is also in a way his pupil
Watch: "The Hidden Secrets of Money" series on CZcams.
This is brilliant. RIP Dr. Friedman. Thank You.
What everyone should watch in fucking 2022...
It's almost unbelievable that such a simple explanation is so foreign to so many people.
Yes, the media and the politicians muddy it up for those who won't educate themselves.
LET'S GO BIDEN!
It’s a very simple explanation, and it’s dead wrong.
@@robertatallo9771 So, tell us Robert. What is the REAL explanation.
@@robertatallo9771 Well stopping printing money does not stop inflation, as it will continue as long as the money supply is there.
5:51 - "The fact is that most people enjoy the early stages of the inflationary process." So, if I were a politician, I could just print 'stimulus' money to buy votes.
Sounds like the early stages of covid when everyone was being given free money.
Which they did
Yes...also the fallacy of the "wealth effect" where people have deluded themselves ( once again) that their primary residence really is worth 3x what they paid for it 5 years ago.
@@weirdshibainu It's not a delusion at all
@@JohnSmith-su3ze It is completely
I just love how at 12:23 - with great confidence - Milton Friedman just stops inflation.
I am not a big fan of supply sode economics but Mr. Friedman is very good at explaining things and interesting to listen to.
he did not explainvery well about the money supply is just simple said that more money in the market cause inlfation with no explanation for example in Venezuela right now the reason that it is a high inflation of 200% or more is due to the decrease on value of the currency and the increase on the money supply and the buying power of the Bolivar Venezulean currency it's value has decrease but the dollars right now is stronger than it was in 2001 and the dollar is even stronger after the pandemic
I officially now know more about inflation then all of Congress combined.
J T Harvey
czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation!
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czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one
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czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
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czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
Inflation is caused by Vladimir Putin not paying his fair share!
Now the reasons are putin, putin and putin.
“Inflation is not a capitalist phenomenon, it’s not a communist phenomenon, it’s a printing press phenomenon.” -Friedman
Yes, agreed, but political processes control the debate on inflation. This is why the U.S. with some success put control in the hands of bankers (the Federal Reserve) and not politicians (or printing press operators).
J T Harvey
czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation!
.
czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one
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czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
🎯
@@MFM230 the fed was setup by JP morgan and its a pyramid scheme bybthe oligarchs gtfoh. the fed IS the problem. have u missed them doing QE since 2008 FFS bailing out all the cronies??? huh??? thats not a free market and its entirely controlled by the ruling class skimming off the top of the money supply creation, which is why Rothschild famously said give me the power to control a nations currency/money supply and I care NOT who makes the LAWS
their original mandate was to PREVENT inflation, not cause and "manage" it. ffs. we dont NEED it. we have the Treasury which we can audit and oversight. the fed is opaque and corrupt as fuck its a bankers mafia. wake the fuck up.
and ofc the great depression happened years after the fed created 1913 and they didnt do SHIT they helped cause the biggest fucking economic collapae in our history and apparently they want to do it again. have u been payin attention? its all politics when the oligarchs are shareholders in the fed banks FFS.
I actually met Milton Friedman and his wife Rose at a symphony performance in San Francisco.
I had gone with a friend who was an economics professor at Cal state Hayward.
During intermission he saw Milton and Rose and introduced me to them.
One of the best videos I have seen on CZcams
This is what's happening in Venezuela. The government is printing more money so they can pay their state employees. Their State Industries are not producing enough. But the government keeps printing more and more money.
@Orange Hitler troll de maduro
its happening everywhere, all the time
its not a con, its how the economy works, you cant remove inflation
Orange Hitler Venezuelan inflation was already rising rapidly prior to us sanctions
The conspiracy theorists generally get a factual point then add up many kinds of artifacts and distortions. Yes, it is true the that US, along with the richest European nations, interfere considerably in every other "third world" country. But these "countries" came to be because of European colonization. There would be no industries, no machinery, no cars, no industrialized food or medication, no electricity, etc. in Africa or Latin America if not for the "first world" colonization. Now, I'm not saying this is good or bad, right or wrong, but just a matter of fact that what most people believe is a normal or decent style of living would be non-existent if not for US and European direct or indirect influence. The problem is that without foreign capital and influence, countries like Venezuela, Colombia, Brazil, would have serious drops in technological and industrialized goods. Left-wing politicians in Latin America are like rich rebellious teenage kids who see their parents as just an annoyance but fail to see that it's their parent's work that funds their bratty rich kids lifestyle (when that is the case, obviously). It is common for left-wing/nationalist partisans in Latin America to complain about European or North-American "imperialism" while at the same time making intense use of Facebook, iPhones, medication developed by American and European companies, refrigerators, ovens, tennis shoes, trains, busses, cars, smartphone apps, and several other things that people are completely CLUELESS that come directly from "the imperialists". Now, I have nothing, NOTHING, against people who actually live a more natural life, in the fields, or forests, or whatever, and who are "against the imperialists", but all these naive hypocrites, who are totally dependent on all sorts of machines, chemical substances, urban facilities, banks, etc. to believe that they can continue with this lifestyle without the influence and support from "their daddies"... these people are lame. It is true what the first commenter said, authoritarian governments try to increase power by augmenting their structure, hiring more government workers, increasing their salaries to make them more dependent, facilitating credit to poor segments of society, overall increasing the supply of money, which then increases the buying power of the population to higher rates than the development of the productive structure. These policies also end up transferring money outside the country, because so much of the products bought by the easy credit are provided by multinationals (cars, computers, phones; medication and even food). Many times these big corporations have tax exemptions, government subsidies, that indirectly makes it tougher for national industry development (and that is one factor that nationalists got right, even though it's something that's irreversible in the short term). The end matter is that, for these countries to be "strong nations", independent, they would need to go back in time and develop their technologies and industries and infrastructure independently. But that's somewhat of a paradox, because like I said, decades or even centuries ago, the people who developed technologies and infrastructure in these countries were either foreigners or connected to foreigners (Americans and Europeans). The natives in these countries have more tribal and simpler community cultures. The upper classes in these countries are mostly descendants of Europeans (although there are people from other ethnicity, like arabic or asian, who have risen to wealth due to all kinds of businesses possible by the capitalist structure, all kinds of commerce, services, trickery, etc.). It is a problem that capitalism favors certain types who are mostly viewed as "criminals" (liars, tricksters, defrauders, thieves, traffickers, etc.) but still, creative and industrious types of people, who actually create and develop societies, are mostly NOT natives of Africa and Latin America.
idiots! lolololol
Wow, don't know how this ended up in my recommended feed - How Prophetic watching this in June 2022
Milton was a hero and is a LEGEND!
Milton is a good read too...I very much enjoy his writings.
"Left with twelve thousands dollars, now that might seem like a lot" jesus was money really worth that much in 1980? Holy shit. That dude has a sweet house.
One job, 3 kids, nice house.
But things are much better now /s
Ha! Our "Dollar" has lost 99% of it's buying power since 1913.
@@joncavalier8875 and thats the kicker-ONE income is buying this. Hardly anymore
Milton Friedman, the only man to ever be filmed decreasing the rate of inflation - Legend.
I think that today, they would never let him use the mint to produce such a message. Theyd call it misinformation and a threat to our democracy.
BS. Paul Volcker decreased inflation. Friedman never did anything of the kind.
@@wiscgaloot Archie Bunker would be singing "We could use a man like Paul Volcker again!"
what are you talking about? friedman's pupils CAUSED most of the crisis of this century
@@larrote6467 Bingo. Spot on.
What a great man
I could watch Milton Friedman for hours. I wish he would still be around to talk some sense into politicians.
Look up the old PBS series he did called, "Free to Choose." At the time, this series had a decent audience as there was no cable TV. And was on PBS! Every administration since LBJ wanted him in theirs. He only worked as an adjunct for the Reagan admin. Point is: His theories were known and he was well known. But politicians and activist who followed the Keynesian economic theories, Socialists or were simply too naive to understand Friedman fought and fought against his theories because that is where they established their base and power. And it still goes on today.
Friedman, you are the Carl Sagan of the money universe
what I was gonna say
>both Jews
Really makes you think...
Sung Joo Um couldn't have said it better myself.
Except that the "billions and billions" refer to dollars, not stars. :-)
Holy shit #metoo. An organic meme.
Bob makes $18K and able to raise family, good times.
Wanna have their quality of life?
Why do our schools not just play these old videos of Milton? The fundamentals are still the same in 2020.
@@edwardheaney3641 What was shown to question their quality of life ?
@@midway27272727 No phones, no laptops, old furniture, living on mostly canned food, life expectancy then was far lower, asbestos in the walls.
You can live like they did in the 60s with their quality of life. Just remember though, its the 60s.
@@edwardheaney3641It was taking place in the mid 70s. The old furniture to us now was new back then to them? I grew up during that time, seldom eat canned food, family cooked a lot of home meals, close neighborhoods, BBQs had a great time back then. Times were a lot easier for us. Don't judge an entire decade on one families interview. Same as now, some people having a tough time, others planned accordingly and it's really easy times.
Lol, I got hooked on Liberty Pen’s Milton Friedman videos during the GreatRecession and QE1, and now I’m back. We will never learn.
This should be the first thing every high-school student should be taught.
Milton, apart from being well educated and well-read... was such a great, natural teacher.
And debater
Milton was in Playboy magazine He was Bourn Smart and such a likable Guy and Great Teacher ,,,
And yet he invented shareholder's capitalism which brought us to misery. This guy is one of the biggest bullshitters of 20th century.
@@user-xx5-5885 That's a big clam The USA Biden ,/Bush .. The good guys He lived through the depression Now So much government global warming con ,, Europe Problems are the Worlds problems
of Junk Economics. US emperialism at work.
God bless Milton Friedman for this astute and articulate explanation.
J T Harvey
czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation!
.
czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one
.
czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
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czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
Really well explained Milton. Inflation is really rate of money printing vs goods+ services.
13 minutes of your life and a wealth of knowledge. Beats blaming "Joe Byron's" for economic woes.
When I was in College we had a brief spate of Runaway Inflation (5 years, 1973-78). It took $1.46 in 1978 to buy what $1.00 bought in 1973! A spate like that today would be horrific and shock those of us too young to remember what it was like. By World Standards our "1970's Inflation" was minor, but in our current economy it would be devastating to many people.
True and that's why it has become almost impossible to make it without 2 or 3 jobs in single family household. But, early on those who did this made out until the economy realized the existence of this second earner and prices started rising to that level. I remember my dad complaining about a $140 mortgage. We today cannot even conceive of mortgage like that.
When I was 7yo in 1973, my dad wanted to buy the old house next door to stop another neighbour buying, knocking down and building 2 new houses there. He had the asking price of $11,700 but it sold for $13,000. Now 45 years later the value has risen to $1.1M. That's an annual average of 11% inflation. And this is normal city outer-suburbia not a beachfront mecca. This is the result of debt and credit becoming the new currency.
Cassette Walkman, also, here's a thought. Who does inflation really hurt, the person borrowing the money to buy an inflating thing or the person lending the money that is losing it's value?
St Gray The lender loses due to inflation
If other countries stop buying USD, USD would already be in hyperinflation.
Remember when you could raise a family with 2 cars, 3 kids, and a 4 bedroom house on a single working mans income? Lol
Yes I remember - then Milton F came along and fucked it all up for everyone but the rich.
We can again J T Harvey
czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation!
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czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one
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czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
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Minsky at Westminster 1991 czcams.com/video/FLi2wdSA66A/video.html .
No. No I don't
I do. I’m doing just that at this moment. Create value for others and you will never need to worried about money again.
@@coreymetcalf2498and the unions got fat and corrupt, let the jobs leave the country.
Take heed of the lessons of this man. Nobody compares to his financial wisdom, experience, knowledge & foretelling future booms & busts.
history doesnt repeat but it rhymes. Milton shows us his study and appreciation of history to help understand inflation. I wish our central bankers were made to study financial history prior to being appointed.
Yeah I really liked how he explained different historical examples. Way better than just blaming it on one thing, even though that's kind of what he ended up doing. But I still like his explanation.
40+ years later we're still dealing with these shenanigans with these career politicians.
Some of them who were in office then, are STILL on office now. Nancy Pelosi. 🙄
@@1mc568 Mitch McConnell. The problem is on BOTH sides. "It's a big club, and you ain't in it. " - George Carlin
@@JM-er2yl Exactly. It turned from public service to a career of self serving criminals. Term limits are the only way forward.
They are career politicians because they are adept in listening to their constituents. In the final analysis, the responsibility falls on us.
@@joeg6242 Nope. This makes politicians answerable only to lobbyists. Voters get to turn out the rascals if we are doing our job properly.
We need to get this video trending on youtube's front page. Everyone that sees this needs to hit like, comment, and share. When you watch the news today they act like this is all new, but it isn't. It's taxation without representation.
CZcams would fact check it and label it "misinformation".
Excellent primer on a phenomenon that's always with us to one degree or another and one direction or another.
Milton is a brilliant man who explains economics in a simple way so a dummy like myself can understand.🤣
This literal sh17 head destroyed modern civilization.
"The goal is to CRUSH the middle class between the millstones of taxes and inflation" V. Lenin
Milton was awarded the Nobel Prize because of his work. He and I share the same Birth Date - 7/31 and although he has passed, his "Free to Chose" will live on as a marker for economics.
J T Harvey
czcams.com/video/1DE0sBGH73A/video.html #11: Printing money does not cause inflation!
.
czcams.com/video/2WFJTvaFaz4/video.html #12: What actually causes inflation part one
.
czcams.com/video/Giu518_9rO4/video.html #13: What actually causes inflation part two
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czcams.com/video/FLi2wdSA66A/video.html Minsky at Westminster 1991
Loved his work but be careful to be explicit what he won. It was a separate price in memory of Nobel and not one of the actual Nobel prizes.
Nevertheless, when he assigns inflation to washington alone, his faulty economic assumptions begin to lead him astray. I am willing to discuss why Milton Friedman is wrong with any serious person who is willing to do high-school math.
Such a brilliant documentary!
No Animation (except pilling money) and the video is clear and easy to understand
Inflation is just another form of taxation. When the government keeps printing money out of thin air the money you got its worth less.. If you want to build wealth your money has to grow faster than inflation. Which is even harder if almost half of what I earn goes to taxes.
Jordan Rodriguez that is predicated upon the excess money flow entering the market place. It has not. Will it? If it does, watch out
the good thing about inflation is it reduces the burden of debt. borrow $100 today and pay it back as 100 less worth dollars tomorrow, what would equal, for arguments sake, $90.
also, it spreads the tax burden among everyone in much the same way as a flat tax would. inflation isn't a problem so much as lack of productivity is.
MyLifeForAuir87 That scenario would be of course in an INTEREST FREE debt.
Not free, but interest low.
***** Much salt?
$80/$90 for two weeks of groceries?! Man those were the times. Lol. #endthefed
We do it. Shop at ALdi.
It was also the time an $12K salary was considered "good money".
This is a great educational video
If every American stops paying federal taxes on thier working wages. This is gotten out of control.
Well here in June 2022, this aged well. Once again, DC is spending beyond their means, requiring mass printing of money, driving down the value of the dollars in circulation. This affects only the lower and middle classes because the rich have other forms of investments that are not pegged to the dollar.
Incorrect. The rich in the US have inflation-neutral investments. Mostly because they have so much money that what they're living on is a drop in the bucket of their wealth. Not talking about Bezos. Talking about the millions of people in the top 5 or 10 percent
@@DAG_42 Incorrect, I hold investments that have more than overcome the effects of inflation and the slope of this trend has become even steeper since inflation started accelerating. For example, more people are fleeing blue states and moving to red states to reduce their exposure to inflation. This has caused my Florida and Texas real estate holdings to appreciate even faster than they otherwise would.
you don't have clue but your listening to prime economist who caused the 2008 bank collapse , what a dumb ass you must be .
@@ChatGPT1111 please comment in one year and let us know what those real estate holdings are worth.
@@AaronHollander314 Good thing I offloaded half of it already in the past 6 months. Moved to gold and survival goods. Will offset any losses that could possibly occur.
Milton: 'As always when there's more money, prices went up.'
2010s have entered the chat.
explain
If this man was here today. Such a wise man
Needed to see this 30yrs ago when I started working
The best part was how Bob managed to take care of a wife, a house, a cat, and three kids for 12000$ a year. He probably wouldn't be thrilled to see that the inflation that affected him back then didn't get better since, to say the least.
+Ranee MacIntosh It did get better. Inflation in the late 70s (when this was filmed) was very bad, 10% a year. Today, for the last decade, it has been under 2%
+kvnd7331 cus interest rates are so low. which is another problem
mp517q What are you talking about? Low interest rates increase inflation. This is literally basic macroeconomics. That's a stupid thing to say
*****
if you know basic macroeconomics then you should know what an mp curve looks like. inflation is under 2% because the interest rates are under 2%. But the int rates being so low causes other problems is what i'm saying, such as inflation, increase in the cost of homes, etc. basically, the fed doesn't do its job properly
mp517q that's unrelated to this mostly. You implied inflation was only so low because the interest rates are so low. But that is backwards
I wonder how he managed to get permission to film a doco to stop printing money inside a money printing factory..
Well, he is Milton Friedman.
You'd think the fed would have kept him away with a 10 ft. pole.
He's not necessarily against the printing of money. Just the irresponsible printing of it. He had a great respect for the fed, but wouldn't hesitate to point out its flaws.
I was wondering if this was a break for lunch or end of the day and the press needed to be stopped and he did it instead.of the worker
I recall in one video interview, at least, Friedman stated he would like to abolish the fed.
Today youtube makes the great milton freedman to explain inflation...well things look same as 2022 as was in 1978