How Does Inflation Work?
Vložit
- čas přidán 3. 05. 2023
- Dr. Peterson and Peter Schiff discuss the threat of inflation and the role politicians play in rising inflation rates.
Watch the full episode here: Ep. 353 - • Economic Storms are Ga...
Dr. Peterson's extensive catalog is available now on DailyWire+: utm.io/ueSFn
// SUPPORT THIS CHANNEL //
Premium Podcast - jordanbpeterson.supercast.com/
Newsletter: linktr.ee/DrJordanBPeterson
Donations: jordanbpeterson.com/donate
// COURSES //
Discovering Personality: jordanbpeterson.com/personality
Self Authoring Suite: selfauthoring.com
Understand Myself (personality test): understandmyself.com
// BOOKS //
Beyond Order: 12 More Rules for Life: jordanbpeterson.com/Beyond-Order
12 Rules for Life: An Antidote to Chaos: jordanbpeterson.com/12-rules-...
Maps of Meaning: The Architecture of Belief: jordanbpeterson.com/maps-of-m...
// LINKS //
Website: jordanbpeterson.com
Events: jordanbpeterson.com/events
Blog: jordanbpeterson.com/blog
Podcast: jordanbpeterson.com/podcast
// SOCIAL //
Twitter: / jordanbpeterson
Instagram: / jordan.b.peterson
Facebook: / drjordanpeterson
#JordanPeterson #JordanBPeterson #DrJordanPeterson #DrJordanBPeterson #DailyWirePlus #podcast #news #economics #inflation #investing #stockmarket #corruption #TheJordanBPetersonPodcast
"Facts do not cease to exist because they are ignored."
Aldous Huxley
Banks loving this. Keeping piling on the pain for tax payers
You have to appreciate just how sharp Jordan is. With what ease he can grasp new concepts and summarize them back to you perfectly.
He does his homework like a real journalists. The other nowadays mostly scream and compete with marketers who also just scream for attention any way they can.
@@zeynand4039 granted. But how much homework can you really do when you interview several people per week on completely different subjects + all the other stuff he has going on.
Inflation is significantly more destructive to individuals than a collapsing stock or property market since it directly impacts people's cost of living, which they immediately feel. It is not unexpected that current market sentiment is so gloomy. In today's economy, aid is necessary if we are to live.
I believe I could benefit from further guidance since I am having problems navigating the market. Because the majority of my assets have already been sold, I may require some advice on where to put my money.
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
@@Igorstravinsky788 Please let me know the name of the investment consultant you work with and, if possible, how I can contact them.
@@jonesfred56 Ruth Loralann Brennan, whom I discovered on a CNBC interview and contacted, is guiding me. She has since given me entry and exit points for the securities in which I am interested. You can look her up online if you require care supervision.
The point is ... each time we sell a product such as house for much more money than we paid for it ... the onus of inflation is on US ... not the government.
We like to rip off our neighbors ... and then BLAME the government.
Stocks and bonds are bought and sold by people that are often not politicians.
It's just an easy out for citizens to ALWAYS blame the GOVERNMENT.
Concerning inflation ... we ARE the government.
Hello. I'm actually looking for a good
trader that can help me trade and make good profit, Ive been seeing so many recommendations but i don't think they're trusted. Please do you have any recommendation?
Trading on crypto you'll need to get am expert manager so you'll be earning on crypto investment
Crypto is a very profitable investment to make at the moment
@Fernando Rodrigues How can someone know a professional account manager that is trustworthy when legit once are hard to find this days?
@fernandorodrigues4857 No doubt my Jennifer Allen is very good, I invested 2000$ with her and 8000$ weekly I still wonder how she get her strategy
Only you can access your investment portfolio,All Mrs Jennifer Allen does is to make investment decisions for you that will earn you a good percentage of profit with zero risk of loss and invest.
Thank you so much for the enlightenment 👍🏼
Once you understand the scam that is the fiat monetary system you will never look at the world the same way. The very thing that everyone is chasing to survive is literally an illusion.
Health is true wealth - because there's only one way to earn it: through discipline
you could also say wealth is created by proof of work ;)
@Mr. E white?
@Mr. E Strange thing to add.....
@Mr. E this is clearly a bot; ya'll stop defaming Peterson with your bullshit
Bullshitters were having a real mental breakdown for three years now. They are all on drugs, you can't teach discipline to a pig and you're crazy for even trying.
Thanks
It’s by design that JP releases short clip important segments like these. He’s trying to educate ppl so they’re better at their discernment in regards to complicated problems like the ones we’re facing today.
great video🎉
Laughter is priceless
DR. PETERSON, I have been following your advice. I am chasing my dream of being a professional artist. I have stepped out of my comfort-zone. I wanted to thank you. It has been good for me. I have grown in my skill tremendously. It has not been financially profitable. But I am learning and growing. I tacked my fear of technology. I pray for your protection. Thanks again
W
Inflation is an increase in the money supply without any corresponding increase in production. If gold was money and you mined more gold then it wouldn't necessarily be inflationary, because you had to mine it first; there was a corresponding increase in production
Price inflation can also happen while the money supply is shrinking if production is shrinking even faster.
@@nierlindin1006 You call that an increase in prices, not inflation. Inflation is an increase in the money supply.
@@ronpaulrevered The concept being referenced clearly is what is relevant. Inflation is used in the popular culture meaning prices. That is why for clarity's sake the term monetary inflation should be used so as to separate the two terms. Though I think we largely agree on the real point at hand.
Finally someone speaks the truth....well done Peter.
Great explanation 👍🏻
just a shame it's wrong
😮😮😮What else can I speate I know it all 💯👍
I'm seeing more merit in the political system in 'Starship Troopers'.
lol based
There is no merit when anyone who can fog a mirror has the right to vote.
One contributor to inflation nobody dares to discuss, foreigner countries participating in import and export of domestic products, are kicking the bucket due to increases in social programs.
What part of unsustainable wasn't clear?
Isn't consumerism a significant factor that drives prices up? If people consume less and save up their money then there would practically be less paper going around and that would balance out with the excess printing.
Yeah, that's the whole "velocity of money" argument, which is part of price discovery, but as long as people are producing more than they are consuming, prices should continue to drop for goods of equal quality. And while worker productivity has gone up, thanks to innovation and new technologies, real wages have not kept up; they are down. And the culprit is money-printing.
So yes, consuming more frugally and saving/fixing things rather than breaking and throwing everything away so quickly also plays into the shortage of goods relative to dollars a bit. But money-printing appears to cancel that out by far, as half the US dollars ever printed in history were printed in the last 3 years. I mean what are we gonna do, eat half as much food? The government is greedier than the people.
Bring back strong trees and strong rope!!! Now
The more cash I put in my fireproof lockbox I bought at Walmart the less value it retains. I don't know anything about investing and have my reasons for not keeping most of my money in the bank. The information in this video turns my stomach where I can taste bile in my mouth as I text. I don't understand why we give people who are perfectly capable of working any benefits. I understand that since we have been doing it for years that it will be difficult to stop. Just because it's difficult doesn't mean we shouldn't stop.
You would be better off buying gold than saving cash.
@@TheJohmac You keeping your cash in a fireproof lockbox keeps it out of the banking system and so reduces inflation.
@@JonMarkSearle1 it is a rain drop in an ocean where the ocean grows yearly.
Knowing this is good, but preparing for it, is better. Quit talking and start prepping, if you haven't already been doing so.
Government NEVER have intention to pay off the principal of their debts.
of cause not, the only President to do that was 'Jackass' Jackson; sucking all that money out of the economy causing banks to collapse in 1837 and the country to go into depression seeing wage and price deflation which lasted until around 1843.
Definition @6m 30s
Governments take away inflation too by raising interest rates. We had decades at or near 0% interest rates. The piper must be paid for that. But don't think that governments can't undo what they've done. Interest rates just hit 5.5%. That's the floor. I imagine even if you have an 800 FICO score you're going to be paying 7+% on a direct/personal loan. The M2 Money Supply has shrunk for the first time in a long, long time. Powell is doing the right thing if inflation is the problem. I think we have much worse demons ahead. Deflation for one.
@@wupatangfarms2319 He's locked in to the ideology. He knows doom is at hand, no matter what. Peterson handled him nicely, once Peter gets wound up it's difficult to manage your time. Some who say the broken clock analogy applies. He's correct, once in a while. Eventually. I think he has the overall trend correct. I wouldn't bet against him in the long run. But how darn long is that run? Life is short. We need to live in the time that is given to us, not at the behest of a doomsayer whose prophecies probably won't play out in our lifetimes.
Raising interest rates has no effect on inflation, it only effects pricing. You are making the very error explained in the video. Inflation is not higher prices for goods, it is expanding the money supply. You can reduce the extent to which that increase affects pricing(in the short term) by adjusting interest rates, but the currency supply is permanently, or near permanently, expanded. This redefinition you are using was an intentional misdirection to justify and/or make the fiat currency palatable to the populace.
@@TheJohmac Did you not read everything I just wrote? I already discussed the money supply. M2 has crashed, vertically, about as hard and fast as it ever has before in history. Do some homework and read more comprehensively. Obviously I'm not making the error you said I am. I'm not redefining inflation, but I will and now am using the contemporary definition everyone else uses so it's not ambiguous and subject to misunderstanding.
Everyone cares about higher prices and that's incidentally why people also care about "inflation." You're wrong about me though. I know the classical definition of inflation I just don't like Nazis insulting me and enforcing the old definition. If you tried your best to understand me in the first place, I don't think you'd have made this error.
@@fifteenbyfive So you admit to changing the definition at the same time you claim you don't, then call me a Nazi??? Way to make a compelling argument!?
@@TheJohmac I didn't change the definition. I'm using the changed definition so I don't clumsily mislead people as you will do.
The most important takeaway is that majority of people doesn't understand or bother to find out for themselves. People just get brainwashed by propaganda and misled by mass-media about the true cause of inflation.
inflation is everywhere and always a constrained supply phenomenon
*More Suggested Interviews For Dr. Jordan Peterson:*
Ricky Gervias
Drew McCoy
Alex J. O’ Connor
Daniel Dennett
Dan Barker
Thomas Westbrook
Dan Mcclellan
The Line Channel
Aron Ra
The Non Alchemist Channel
Bart Ehrman
Seth Andrew’s The Thinking Atheist Channel
Andrew Neil
Michael Burns
Tom Nicholas
Lewis Waller
Sisyphus 55 Channel
Duncan Channel
Jimmy Dore
Cody Johnston
Tamim Albargouthi
Chris Mullin
The Kavernacle
Aardman Animations
Jane Elliott
The Vanguard
David Doel
Jon's DarkMatter2525 Channel
Amy Goodman
Abigail Thorn
Pillar of Garbage Channel
Alexander Haley
Sam Seder
John Iadarola
Rashad Richey
Noam Chomsky
Jordan Meiselas
Leigh Mcgowan
Mike Figueredo
Dr. Hakim
Richard D. Wolff
Inflation is good news for people with fixed debts.
True, up until they're not fixed anymore.
@@JoshWiniberg I was thinking along the lines of judgment debts secured against property. With the rate of inflation currently going on, and the relative stationary prices of gold and silve, buying a lot of longlife food looks like the best move. This sin't for trading, but for eating..
@@richardduplessis1090 wasn't disagreeing with you actually. I was just thinking of things like fixed rate mortgages which are fixed but usually only for a few years at a time. We're fine for another couple of years. But in two years we'll get a sudden rise in interest rates which will probably make any money we saved with fixed rates evaporate.
@@JoshWiniberg Agreed. The fact that the US elections are scheduled for 2024 and also that the UK electons have been announced for November of that year also, suggests that the true catastrophic rise in rates won't begin this side of those elections.
@@richardduplessis1090 No elections have been announced in the UK yet but I believe according to the unwritten constitution it would have to take place by Dec '24. So I have money on an election May 2024. Just a small friendly bet. My thinking is the government doesn't really want an election during the annual NHS winter crisis, especially not now with healthcare in such dire straits. I figure they would rather gamble on an election in May, when things aren't so miserable healthcare wise, and shortly after the annual budget, where they can try to buy the electorate.
But we already know (as in, it was officially announced) that the harshest measures are being kicked into the long grass for the next parliament. So you're 100% correct about that.
Inflation is a non-legislated tax
yes, and so are interest rates. They are taxes on very different things, with very different benefactors. Price inflation helps borrowers and is a tax on savers. Interest rates are a tax on borrowers and benefits lenders.
When inflation is raging out of control, the US spends BILLIOB$$$ more and has the BA&&S to call it the inflation reduction act.
The one issue the goverment can’t even pretend to spend it’s way out of…you would think!
Those in charge (entrusted) should have PhDs in the fields they are in charge of. It shouldn't be a popularity vote. We need the top academics.
Capitalism per se does NOT reduce prices. The primary goal of a firm in a purely capitalist system is to maximise return to investors. This means raising your prices and reducing your costs as much as the market will bear. The best thing is to have a monopoly like market power where you set the price, while also having monopsony powers where your employees and suppliers are dependent on you and so you also set the costs. Government regulations can help with this, because regulations always help the incumbent by raising the cost of entry. Unfortunately for the capitalist, and fortunately for everyone else, competitive and efficient markets balance things out. Well at least that’s the theory.
It's all because of the stock market and interest. Think about it..... Everyone wants to make interest on investing so profits need to go up to continue to pay interest. That's "fakelation"..... Vicious circle.
I’m already 5 minutes in and I still don’t know how inflation works. Does this even remember the question?
TLDR: issue more debt (money) the overall number gets bigger but what you hold doesn't get bigger.
It's literally just basic maths
What if you could be a politician who puts the people above themselves. What a great politician that would be. Probably a real rarity
I notice Petersen is an economist now?😂
A lack of supply of products also causes inflation, since greedy businesses can ask for more (supply and demand). The supply chain has been disrupted by COVID and the war in Ukraine, limiting supply. Also, monopolistic enterprises have fewer competitors, so this weakens price competition. Governments have failed to regulate the ever growing expansion of giant conglomerates and chains that push out small businesses. The housing crisis is another matter, but it has been allowed to happen because of lack of government regulation on investment properties, mass immigration and a lack of public housing investment. Interest rates were kept low, despite inflation, to prop up the housing bubble. The money printing presses have bee run hot to provide fuel for the economy for short-term gain (politicians are not interested in the long-term good, only what serves their current interest (re-election and lobby money for their campaigns). The elimination of the gold standard and other deregulation has enabled this. The political left have a habit of big spending to appease their voters, while the right concentrate on the interests of the "haves". WIld spending by consumers hasn't helped either. Those who are conservative are punished with low interest rates and high inflation and suffer from financial collapses which they did not fuel.
Governments stopped regulating corporations they now work together to both profit, pass laws to beat down competition and enhance there monopoly.
🌌👉🌌👌👌👁️I leave time to time ❤
Our monetary system is broken. It is not based on money (backed by tangible assets) but based on debt (some private, some public). That is why the system need to have inflation built in, else how will the debt's interest gets paid off?
Money is debt
Todays inflation seems like an equality gap expanding. Because if based on his definition there's more money then the prices then in turn can go up. And then it prices the lower income folks out. It's challenging. What do you do about it. oh just work harder and make more. not so fast. How about the more wealthy got proportionately more wealthy and the less wealthy by percentage lost their jobs/wealth/lives. We have way less working class than we did pre-pandemic. Thus the costs of goods go up because you have to pay the working class people more to come to you business. It's in the published medical reports if you believe them or not. All cause mortality at least was reported that way. There's a real labor shortage too. Sanctions caused shortages, driving prices up after the demand went up because the shortage went up. Lots of people have moved in and moved out of all the countries, disrupting the labor force everywhere. The value of stable stay in once place is all broken up. Very complicated. Should we all just go back to gold. Buy it and keep it and live like nomads trading on occasion.
🫡🤑🤑🤑🤑
I'd guess that 98% of Americans cannot accurately explain inflation. This is by design
Peter still doesn't get it. Inflation is not about increase in the money supply. It's a big part, but it is more about the consequence of rising prices. Lots of factors in why this happens
Price inflation is a direct and inevitable result of monetary inflation. I don't think you get it.
Buy hard assets, the hardest of all- bitcoin baby
Like inflation of rich people for them to binifite from it only
*benefit
It's all part of the Matrix
🤭🦻 😂
Amazing he happened to neglect that corporations price gauging is 30-40% of the inflation in the US
You’re missing that companies put off raising prices the last 2 years because they though inflation was transitory. Lower prices sells more product. They’re just raising to cover costs.
Is that just a feeling you have or do you have data to back up your likely incorrect statement?
They created everything.
Create, reaction and action.
Satans, belzebu are working for destroy the humanity, but GOD is GOD.
Dr Jordan you know I pray for you and your family every day from Holy sacrament adoration.
Holy spirit guide you every moment, and all the angels from heaven Protec you.
Blessings 🙏
I love the myriad strawmen and misdirects from Schiff. He says that governments create inflation (using the definition that inflation is always and only a monetary phenomenon). He seems to have forgotten that when gold is the currency (or the backstop), gold miners create inflation. I also wonder whether he realizes that in the current system, banks create money. Money is created by banks when they make loans.
It's also slightly amusing that he neglects disclosing the fact that the money supply has significantly decreased over the past year, yet prices have increased sharply over the same period. Supply and demand works on both the goods or services AND the money side of that equation, and the dynamic doesn't work at all unless there are a relatively large number of relatively small buyers AND SELLERS of things (the basic definition of a market). America hasn't had that in most areas for decades now. What it has are an incredibly tiny few producers (or middlemen, importantly) which are fairly huge in size, against a huge number of insignificantly tiny buyers. That's not a market so market forces can't work as intended.
He also calls the strong desire to curry favor in order to stay in office a "fatal flaw of (a) democracy." That is certainly a large problem, but it is in absolutely no way unique to a democracy (nor even to a republic like the USA). The same thing happens in kingdoms, dictatorships, communist states, and everywhere else, though some of the practical effects may look different. From there, one could easily make the catastrophic mistake of thinking we should have 'caretakers' who are 'experts' which 'know best' be the government and run everything. All this is antithetical to a free society. Power corrupts, and absolute power corrupts absolutely. It's a human character flaw, not a flaw in the system that can be eliminated by just changing the system.
I'm unhappy about much the American Congress (and President) does. I strongly dislike tax credits in all their forms, for example. I strongly dislike un-funded or open, perpetual claims against the Treasury. I'm not a gold bug, though, and I can't help but recall that Schiff has done a pretty good job emulating the old saw about stopped clocks.
🙂
This was a far more nuanced take on the topic than a libertarian "gumment, bad... mmkay?!".
Was hoping there was someone in the know, pushing back against this nonsense but since I'm not versed in economics, I can't do it. But I know he wasn't spreading any relevant info other than what he said about career politicians but that goes for most jobs. Most of us want to keep our position or improve. And most of us don't do it for the common good, but use the common good to serve us if that becomes a byproduct of our actions.
I think this gent has exposed something that most trials are in contempt. So there no justice. But he also exposes an issue with wealth creation? Some will see the money game for what it is? Others will not? I hate to say this but this has many parallels with substance abuse. I I can remember how some discribed this to me. Objects have no value at the end of the day they are just objects. They will be that object regardless of their value created in the minds of men. What make things valuable is what they are able to do? You tend to find the things that last the test of time have some utility. As humans were are surrounded by them. What inflation does is disregard the utility of an objects for some imaginary goal? Even in spaces where there’s no government. Inflation can occur? Because when it comes to what people want. Your get one chap who wants something for od price a week or two later some sell that for a higher price? Remember it still the same object but someone decided to appraise the object which the. Inflates the value? It the measurements principles. By measuring it you change it? It a common theme in science. It why the scales where for a long long time, the only measure available to sell goods? You can still see in some Roman markets standard measures scribe in stone. Inflation is essentially greed envy and jealousy rolled into one? Instead of valuing an object true worth? It’s form and function. Some has decided to add layers. So it no longer the much loved object. This is another form of gambling if you like to see it that way? Rarely do the gambles pay off?
Jordan Peterson is the king of interrupting people
U guys are 2 poles in the mud 😂
Peter Schiff = Captain Obvious
Not very obvious to the left
One word "Bitcoin"