Indeed! Five minutes into Dr. Hunt's monologue, I suddenly had an epiphany. I had been a gold bug for two decades and believed that high deficits meant high inflation rate and high prices for precious metals, and I have been dismissing cryptocurrencies as a silly bubble. But Dr. Hunt opened my eyes to the true nature of financial bubbles and why gold has lagged so badly behind Bitcoin. It is going to greatly change my mindset when it comes to investing.
Dr. Hunt's presentation was oracular, scholarly, approachable. More, please. Only next time please don't forget to ask how he is positioning fixed income under these conditions.
Watch this over and over until you gain understanding....don't miss the last 5 minutes. Incredible stuff Dr. Lacy and the incredible Danielle DiMartino.
For the last 5 or 6 years, when Lacy Hunt speaks.... I listen and learn. When I try to find the most sophisticated and nuanced counterargument, I've never found them as well formulated. Hence he's been my macro-backdrop for investing. That said... we are in strange times so I stay open to weird s&*t happening. They articulate a huge one...the monetization of Federal Reserve Liabilities. An ideology-driven administration might try this since I've noticed ideologue's often can't separate what's in their head from a measured reality.
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
A goat and lamb providing forward guidance to a market which doesn't give a grazing flock about productivity so long as the productivity metrics looks sharp and shiny as a drug lord's favorite machete lol
*Successful people don't become that way overnight. What most people see at a glance-wealth,a greater career,purpose is the result of hard work and hustle over time*
I would add to Dr. Hunt's analysis the fact that some forms of inflation are actually very much expressions of deflation. Take shrinkflation ... is it not a deflationary reflex, by lower cost competing via volume? What about "engineering to obsolescence" and other such 'scams' are very much a lowering cost competition as well. Lots of concepts are not being well understood as of today's reach in an era of accelerated disruptions.
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
OK@@KyleDunnIt Thx, I’ll listen around for discussion of that. He called for a big recession in about 2012 that didn’t happen although he was very keen on it. After that, I lost some confidence in him. I heard him interviewed later, but of course he wasn’t asked about it.
@@jmwSeattle I've yet to hear anyone "credible" cite those examples as counterpoints to the very popular "low velocity" assertions. Most will point to the same Fed chart on velocity, which itself is a theoretical calculation (per the footnotes). If you want first-hand evidence for what I'm saying, go download either Visa or MasterCards latest quarterly SEC filings and you'll see card swipes are at all-time-highs and have trended "up and to the right" for the entire QE decade and 3/4s of last year. If the quantity theory of money is correct, it's ludicrous to suggest QE is deflationary based on real world proxies of velocity (swipes and retail sales). Just food for thought.
What goes up goes back down. It's merely a temporary supply chain interruption. And when you consider the peak number of baby boomers are turning 70, and there's a looming baby bust, what will be the demand for anything besides nursing home services?
@@warntheidiotmasses7114 there's a big difference between "deflation relative to highly inflated prices" and "deflation relative to historically normal prices". We'll likely have some of the former but haven't had the latter in decades.
Danielle is fantastic. Lacy is a brilliant individual who needs to put down his Algebra book and look out his window at the real world. First of all his call in late March that the PCE had hit it's zenith was totally wrong. He is not considering the psychology of inflation. The velocity of money will not stay low forever. Look at his own chart. What happened after 1946 after it hit it's bottom. People are spending now---people are starting to believe it's better to purchase now instead of waiting. That will increase the velocity of money [spending] and drive up inflation.
What happened after 1945? People started having children and a lot of them - baby boom. That cannot happen this time. Young people are too far in debt. The money velocity will recover but will not rise to normal rates.
Lacy Hunt supports his views with historical data and research. Great economist. Much respect. Great interview as well. Subscribe to the channel already.
I have been a follower of Dr. Hunt for years at various conferences. If I were limited to reading/listening to but one authority on macro economics, he would be my choice. I'm not sure there is a close second.
@@0utc4st1985 supply side shocks (closing factories due to a pandemic), supply chain breakdowns, price gouging, shipping cost increases, etc. Without wages keeping pace, disinflation is inevitable.
"Deflationary trends are continuing and accelerating." Sure after many years of record inflation, there will be a bullwhip effect. Would have been smarter to anticipate the inflation first, though.
Great interview and now I'm back to square one. I've listened to Luke Gromen and backed his thesis and I thought I knew where things were going. Now I've listened to this and Hunt seems to make more sense. It would be great to have a discussion between Gromen and Hunt.
Dr. Hunt has been right in his predictions since he's made predictions. You can go back and read all of them in the releases of Hoisington's quarterly economic reviews. There are also several youtube videos where he explains a lot of his macroeconomic predictions. Dr. Hunt correctly said yields would continue to fall when every other macro-economist said they had to rise. Dr. Hunt correctly predicted disinflation and decreasing money velocity in the periods after 2008 when inflation sycophants (like Peter Schiff) had been screaming hyperinflation. His take is unpopular, unsexy, and unappreciated but I think he'll prove to be as right as he's always been.
From what i heard from luke he is kinda in agreement with lacy in that we are in a deflationary environment however i think luke differs in that he he thinks the us absolutely needa to get inflation becasue the debt is too high ive heard luke say this can be done by the treasury bidding up the price of gold until thebgold they own can be used or by minting a trillion dollar coin, these methods are both outside of the current debt financed fiscal spending and are ways around the federal reserve act which lacy says casues deflation
Ive also seen luke make suggestion that usa has alot of unfunded obligatoions which cannot be printed such medicare which will need to be provided by purchasing of foreign or goods ,so i assume he mean this will have negative impacts on the dollar from a relative currency current account standpoint however i still think lacys point on in being debt financed will overule this currency devaluation ,im not too sure
Is this just a distinction without a difference? While the Fed reserves don't circulate directly - those reserves (out of thin air) are the basis for bank credit & leverage which IS spent into the economy.
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Inflation targets? May I interject, that the government calculation of inflation does not reflect price rises.....How do you explain that the value of our currency has declined to .$.02 compared to the dollar in 1913?
@@victorarregnelle8976 Of course you are incorrect. Depreciating currency makes some assets increase in price. Just what is now happening. And speaking about government statistics ia inane, They are constructed to show no inflation! I call ignoring what is in front of you, willful stupidity... It is fine with me for you to believe no inflation, or depreciation of currency, but it is hardly true...
Mr. Hunt has made an important distinction about how the future may evolve based on a world where the fed remains the "lender of last resort' vs a world where the fed is the 'spender of last resort..." The former situation sees the world end not with a bang but a whimper....The latter situation sees the world end with a bang...
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Can someone please cover how inflation being measured has changed from the past. It's not accurate to compare inflation from the past when the formula is different. I look at shadow stats inflation numbers and they are high.
They use CPI numbers, and substitute steak with ground beef; shrink-flation does wonders to keep inflation in check. Of course no one understands why Graham Crackers continuously shrink in size!
CPI is now calculated on cost of living now . Since people switch products as inflation progresses, the inflation rate is lower than reality . Government do this to keep entitlement , pensions and wages as low as possible .
But the Fed Reserves that are used to monetize govt debt and fund the government do go into circulation, dont they? What about the Fed reserves used to buy mortgage bonds? Dont these end up going into circulation also?
Naming that a disinflationary stew is the best acronym assigned to this issue. I wonder what Danielle DiMartino thinks about stable crypto coins that return yields such as OUSD ?
@@WallOrange he created a cryptocurrency specifically designed for saving by mimicking a certificate of deposit. It only grew from 0 to 30 billion dollars, but it's a start ;)
cute anecdote. ultimately vacuous. what do you have that refutes the macroeconomic claims Dr. Hunt's making? only numbers and hard evidence is allowed.
A splendid interview, but it raises so many questions. What is going to happen to the Petrodollar when the world goes EV? Will there be a tsunami of petrodollars cashing out of US Treasury securities, as OPEC countries fund their budget deficits from savings? Will that cause Bond prices to rise and asset prices to crash, resulting in stag-deflation? OPEC started stagflation in the 1970's, will they start stag-deflation this time around? Will increasing interest rates save the US$ before it loses its position as the number one global trading currency or has the Fed/Government something else in mind? Cryptodollar ?
I think before the world goes EV people will realize energy is needed to charge those EVs, coal mainly, which the energy grid won't handle, and all the energy needed to recycle all those EV car batteries. It's going to be a disaster which governments will use as an opportunity to pilfer.
Can't listen any more after the first 10 min. Rising home prices, rising commodity prices, lumber, copper, rising asset prices, rising gas prices, rising food prices, yeah sure sounds like deflation to me. This guy needs to leave his academic tower and get out in the real world.... Unbelievable!
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
This guy lost me at deflation. According to Investopedia, deflation is a general decline in prices for goods and services, typically associated with a contraction in the supply of money and credit in the economy. Prices of most things (other than electronics) have increased, the money supply has increased dramatically (stimulus) and as far as I know credit has not contracted. He says a lot of intelligent things, but I just don't follow it when everything around me costs so much more than it did a year or two ago. Am I missing something?
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
We are not really a nation of laws or enforced laws It depends on who beaks the law. Some of us can break bigger and more laws than others. Think Hillary and Hunter.
Packing us into cities like sardines to fight for scarce jobs hardly increases our standard of living even though gdp per capita may be rising. I’d take a reduced population any day over a few extra percentage points of gdp per capita!!
Not an inflationary situation?! Real inflation was at 8- 10% before Covid 19, and prices aren't exactly going down. So he can theorise all likes about that. I see what I see and I very much feel it in my wallet....
I agree with the observations, but as a society we then process this info through the screen of the culture wars. This is our biggest problem in my opinion...
Fed is backed into a corner. We all know human nature when backed into that situation. So I look for congressional meetings in the future with the Fed as he described as going out with a bang. Also… guess you now know why illegal immigration is allowed to continue. Any geopolitical book over the last few decades could explain. Stagflation should be looked at as a temporary blessing/opportunity for most average joes. Calm before the storm for sure. Great interview!!
I don't understand how Dr. Hunt can have the view that the U.S. has experienced persistent deflation while simultaneously believing that general living standards in the U.S. have been falling. A fall in the general living standard is a manifestation of inflation.
When they were talking about the fed policies consequences I was reminded of Master Oogway from Kung Fu Panda: “You usually find your destiny on the road you take to avoid it”
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Well they are basically going to do that in July as then the Government will hand out UBI Universal Basic Income. But it will just be for parents of children. $250 a month per kid forever!
Inflation is an increase in money supply. This usually causes an increase in prices if you have more dollars chasing the same number of goods. In the US most of our consumer goods are imported so as our complete to ship us goods for our dollars we won't import inflation through price increases. The inflation we are seeing today has to do with increase in the supply of dollars plus a reduction in the goods available because of the supply chain issues. I have come to realize that commercial banks were the primary mechanism of increasing money supply but they haven't been lending. This where the government through deficit spending monetized by the Fed has taken over. You do see that no imported items like housing and autos have gone way up. Services as well.
Yes The FED has created the dreaded liquidity trap with its massive debt monetization Rt The financial asset price Inflation maybe here to stay However the CPI recent spikes may in fact turn out to be only transitory.The best solution to low velocity of money may mean more direct to consumers stimulus CKs or with the FED digital dollar plans a UBI program for the chronically unemployed
The formulas for GDP ,CPI , unemployment , ect. are completely different prior to 1995. Was Weimar Disinflationary ? We are a Global economy , demographics are meaningless when the next world power has 1.4 billion people.
Inflation and Velocity go hand in hand. If the banks aren't lending, it doesn't matter how much QE or "money printing" is done. If they cant get velocity up, we will have secular stagflation! 100%
When I got the actual fact about salaries was during the lockdown. Salaries don't make you rich, I went into trading last year and I bought my first house in the beginning of this year. Then realised I wasted a lot of time 🙃
Recessionary trends... not deflationary trends. Deflationary in terms of real money silver and gold perhaps, but in terms of hyper inflating fiat... well this will be an inflationary depression.
Don't tax cuts have a fiscal multiplier of less than one regardless of whether they're debt financed? I don't see how that can be used as evidence to argue any fiscal stimulus will have a negative effect. Otherwise, nice interview..
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰 +¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Years of economy classes packed in 1h. For free. Thank you for this fantastic interview 👏👏👏
Best piece ever produced by RV.
Wrong, you should watch 'Piers Kicks: Earning Money in the Metaverse (w/ Raoul Pal)'
@@mrbigolnuts3041 toTilet utility bills lets yes Tu.. Hi Jollys’s hi how are you feeling and tomorrow morning
Lacy Hunt - unparalleled analysis ! And Danielle ! What a combo !
One of the most important interviews I’ve watched in years
Indeed! Five minutes into Dr. Hunt's monologue, I suddenly had an epiphany. I had been a gold bug for two decades and believed that high deficits meant high inflation rate and high prices for precious metals, and I have been dismissing cryptocurrencies as a silly bubble. But Dr. Hunt opened my eyes to the true nature of financial bubbles and why gold has lagged so badly behind Bitcoin. It is going to greatly change my mindset when it comes to investing.
@@xiangyang99 are you suggesting that crypto’s are better than gold in this environment?
Dr. Hunt's presentation was oracular, scholarly, approachable. More, please. Only next time please don't forget to ask how he is positioning fixed income under these conditions.
Lacy Hunt. One of the most remarkable living economists
Watch this over and over until you gain understanding....don't miss the last 5 minutes. Incredible stuff Dr. Lacy and the incredible Danielle DiMartino.
It's such a pleasure to listen to Dr. Hunt. Hoisington's quarterly release is an absolute read.
Thank you for lacy
Lacy Hunt. Finally. Thank you RVision
Epic !, Dr. Hunt is a Gold mine of information and insight. Thank you for the high-level education. Cheers and Stay Healthy
For the last 5 or 6 years, when Lacy Hunt speaks.... I listen and learn. When I try to find the most sophisticated and nuanced counterargument, I've never found them as well formulated. Hence he's been my macro-backdrop for investing. That said... we are in strange times so I stay open to weird s&*t happening. They articulate a huge one...the monetization of Federal Reserve Liabilities. An ideology-driven administration might try this since I've noticed ideologue's often can't separate what's in their head from a measured reality.
Best discription of disinflation! Even a cad guy can understand!
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
+¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Two brilliant people,,,, and Yellen and Powell is all our gov. could come up with.... very sad.
A goat and lamb providing forward guidance to a market which doesn't give a grazing flock about productivity so long as the productivity metrics looks sharp and shiny as a drug lord's favorite machete lol
Didn't even mention how the fed rules were changed to allow purchasing corporate debt, ETFs and squashed reserve ratios for lenders
*Successful people don't become that way overnight. What most people see at a glance-wealth,a greater career,purpose is the result of hard work and hustle over time*
Most intelligent word I've heard.
Investing in cryptocurrency is one of the best way of making money💸
That won't bother you if you trade with a professional like Dave Javens.
I would add to Dr. Hunt's analysis the fact that some forms of inflation are actually very much expressions of deflation. Take shrinkflation ... is it not a deflationary reflex, by lower cost competing via volume? What about "engineering to obsolescence" and other such 'scams' are very much a lowering cost competition as well. Lots of concepts are not being well understood as of today's reach in an era of accelerated disruptions.
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
+¹⁴⁰⁴⁹⁰⁸⁰²²⁶
I’m very interested in the velocity of money and never see much about it - glad to see it’s discussion.
Retail sales and card transaction volumes tell the opposite story about "velocity of money" than what he shows.
OK@@KyleDunnIt
Thx, I’ll listen around for discussion of that.
He called for a big recession in about 2012 that didn’t happen although he was very keen on it. After that, I lost some confidence in him. I heard him interviewed later, but of course he wasn’t asked about it.
@@jmwSeattle I've yet to hear anyone "credible" cite those examples as counterpoints to the very popular "low velocity" assertions.
Most will point to the same Fed chart on velocity, which itself is a theoretical calculation (per the footnotes). If you want first-hand evidence for what I'm saying, go download either Visa or MasterCards latest quarterly SEC filings and you'll see card swipes are at all-time-highs and have trended "up and to the right" for the entire QE decade and 3/4s of last year.
If the quantity theory of money is correct, it's ludicrous to suggest QE is deflationary based on real world proxies of velocity (swipes and retail sales). Just food for thought.
Again Danielle, your interview was great, you let your guest talk !!!
I wish we had a more current viewpoint. This was produced at the end of March.
Why would anyone subscribe? FWIW not much has changed since then
@@orpheusepiphanes2797 I don't think this is the least bit out of date.
what do you mean? He's been preaching we are on the edge of a major deflationary period for years.
We've seen more inflation since then but I don't think people are saying we're not going to have inflation. The question is how long.
This! Monster interview! Yes!!!
How can he say we are in a deflationary period? Does he know how to read a commodity price chart? ANY commodity price chart?
W•H•A•T•S•A•P
+•1•5•1•6•8•8•8•4•5•1•4•
I•n•v•e•s•t>
Economists view the world through a lens of pseudoscientific "algebra" and "production functions" rather than veritable, observable data.
What goes up goes back down. It's merely a temporary supply chain interruption. And when you consider the peak number of baby boomers are turning 70, and there's a looming baby bust, what will be the demand for anything besides nursing home services?
@@warntheidiotmasses7114 there's a big difference between "deflation relative to highly inflated prices" and "deflation relative to historically normal prices". We'll likely have some of the former but haven't had the latter in decades.
Totally agree with Brit’s comment and some.... By far THE BEST INTERVIEW ON ANY FINANCIAL CHANNEL that I have listened to this year! 👏👏👏👏👏👏
Danielle is fantastic. Lacy is a brilliant individual who needs to put down his Algebra book and look out his window at the real world. First of all his call in late March that the PCE had hit it's zenith was totally wrong. He is not considering the psychology of inflation. The velocity of money will not stay low forever. Look at his own chart. What happened after 1946 after it hit it's bottom. People are spending now---people are starting to believe it's better to purchase now instead of waiting. That will increase the velocity of money [spending] and drive up inflation.
What happened after 1945? People started having children and a lot of them - baby boom. That cannot happen this time. Young people are too far in debt. The money velocity will recover but will not rise to normal rates.
Lacy Hunt supports his views with historical data and research. Great economist. Much respect. Great interview as well. Subscribe to the channel already.
I have been a follower of Dr. Hunt for years at various conferences. If I were limited to reading/listening to but one authority on macro economics, he would be my choice. I'm not sure there is a close second.
What is Dr Hunts view of what to do with cash atm?
Great interview. Deflationary trends are continuing and accelerating.
Then why are so many prices going up?
@@0utc4st1985 supply side shocks (closing factories due to a pandemic), supply chain breakdowns, price gouging, shipping cost increases, etc. Without wages keeping pace, disinflation is inevitable.
@@0utc4st1985 supply line disruption and prices alone are not inflation... stagnation is what we have now
"Deflationary trends are continuing and accelerating."
Sure after many years of record inflation, there will be a bullwhip effect. Would have been smarter to anticipate the inflation first, though.
I don't think the FED is an unwitting accomplice at all. More by design. Its a power grab.
Lacy Hunt should run the FED!
Great presentation. But who gets to choose how many ads are served up whilst viewing this? This was the most I have ever experienced.
👍Thanks for the interview with Lacy Hunt. ➕To add. He gives the best in depth analysis of the economy, interest rates and inflation.
Great interview and now I'm back to square one. I've listened to Luke Gromen and backed his thesis and I thought I knew where things were going. Now I've listened to this and Hunt seems to make more sense. It would be great to have a discussion between Gromen and Hunt.
t•h•a•n•k•s • f•o•r •w•t•c•h•i •n•g•♥️🤜w•h•a•t•s•a•p•p•
+1•5•1•6•8•8•8•4•5•1•4 ••
Dr. Hunt has been right in his predictions since he's made predictions. You can go back and read all of them in the releases of Hoisington's quarterly economic reviews. There are also several youtube videos where he explains a lot of his macroeconomic predictions. Dr. Hunt correctly said yields would continue to fall when every other macro-economist said they had to rise. Dr. Hunt correctly predicted disinflation and decreasing money velocity in the periods after 2008 when inflation sycophants (like Peter Schiff) had been screaming hyperinflation. His take is unpopular, unsexy, and unappreciated but I think he'll prove to be as right as he's always been.
From what i heard from luke he is kinda in agreement with lacy in that we are in a deflationary environment however i think luke differs in that he he thinks the us absolutely needa to get inflation becasue the debt is too high ive heard luke say this can be done by the treasury bidding up the price of gold until thebgold they own can be used or by minting a trillion dollar coin, these methods are both outside of the current debt financed fiscal spending and are ways around the federal reserve act which lacy says casues deflation
Ive also seen luke make suggestion that usa has alot of unfunded obligatoions which cannot be printed such medicare which will need to be provided by purchasing of foreign or goods ,so i assume he mean this will have negative impacts on the dollar from a relative currency current account standpoint however i still think lacys point on in being debt financed will overule this currency devaluation ,im not too sure
Well, it’s like politics and the media. Sometimes one just has to tune out the noise and go about their business.
Great video. Very different to the hyperinflation story I've been hearing every where since 07
All predicated on "velocity of money is declining" which is contradicted by real measurements (retail sales, card transaction volumes).
Is this just a distinction without a difference? While the Fed reserves don't circulate directly - those reserves (out of thin air) are the basis for bank credit & leverage which IS spent into the economy.
bank lending is not constrained by reserves - it is constrained by a lack of people willing/able to take (more) loans.
@@julescomin5589 Yes - agree - that is what banks do - make loans.
"Close proximity" as increased the numbers of divorces 😁 Mariage Caboom not BabyBoom
I would have saved so much money if I saw this when it aired. In BTC and the stock market
Thank You 😊
I appreciate your Effort n Perspective.
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
+¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Inflation targets? May I interject, that the government calculation of inflation does not reflect price rises.....How do you explain that the value of our currency has declined to .$.02 compared to the dollar in 1913?
What do you mean? Price of assets and value of the dollar isn't the same thing.
@@victorarregnelle8976 Of course you are incorrect. Depreciating currency makes some assets increase in price. Just what is now happening. And speaking about government statistics ia inane, They are constructed to show no inflation! I call ignoring what is in front of you, willful stupidity... It is fine with me for you to believe no inflation, or depreciation of currency, but it is hardly true...
100% agree; we are in a deflationary liquidity trap.
Mr. Hunt has made an important distinction about how the future may evolve based on a world where the fed remains the "lender of last resort' vs a world where the fed is the 'spender of last resort..." The former situation sees the world end not with a bang but a whimper....The latter situation sees the world end with a bang...
Great insights from Larry. Great questions from Danielle
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
+¹⁴⁰⁴⁹⁰⁸⁰²²⁶
Despite all the economic crisis this is the right time to start up an investment
I wanted to trade crypto but got confused by the fluctuations in price
@@elenaleo8923 That won't bother you if you trade with a professional like Mr Clark
@@elenaleo8923 My first Investment with Mr Clark earned me profits of over $24,320 US dollars and ever since then he has Been delivering
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Thank you for Lacy!
What is the point of added money supply if it just sits in banks again???
UBI will help the poor spend the money in the banks. The inflation will steal the value thru money printing. Interest rates on savings are .50%
Can someone please cover how inflation being measured has changed from the past. It's not accurate to compare inflation from the past when the formula is different. I look at shadow stats inflation numbers and they are high.
They use CPI numbers, and substitute steak with ground beef; shrink-flation does wonders to keep inflation in check. Of course no one understands why Graham Crackers continuously shrink in size!
@@kirstinstrand6292 lol..loved the answer..it is true
CPI is now calculated on cost of living now .
Since people switch products as inflation progresses, the inflation rate is lower than reality .
Government do this to keep entitlement , pensions and wages as low as possible .
My wife told me she learned one important thing in college, STATISTICS LIE!
But the Fed Reserves that are used to monetize govt debt and fund the government do go into circulation, dont they? What about the Fed reserves used to buy mortgage bonds? Dont these end up going into circulation also?
Why am I paying for a plus subscription when everything is out for free?
sshhh!
Because they came out earlier and not everything is released for free?
Great interview
Naming that a disinflationary stew is the best acronym assigned to this issue. I wonder what Danielle DiMartino thinks about stable crypto coins that return yields such as OUSD ?
I would love to press like more than once great interview Daniela
Great interview. Very informative.
Richard Heart interview would be awesome 💜 Thank you.
lol what?
@@WallOrange he created a cryptocurrency specifically designed for saving by mimicking a certificate of deposit. It only grew from 0 to 30 billion dollars, but it's a start ;)
Two of my favorites!
Lacy doesn't shop on the same planet as I do.
I am fed up with academics, no they don t live on the same planet.
cute anecdote. ultimately vacuous. what do you have that refutes the macroeconomic claims Dr. Hunt's making? only numbers and hard evidence is allowed.
@@tylerminix2028 we have inflation right now, nothing prove that it will not continue. Reagrding wage and lack of People who want to work it can.
@@jean-francoisgarcia9534 He runs a bond fund so he's not a straight up academic.
@@tylerminix2028 retail sales data and card transaction volumes (Visa, MC 10-Qs) show velocity is as high or higher than it's ever been.
He's wrong.
Danielle, Please bring Lacy Hunt back for an update. 🙏😊🌷
And please ask him what average Americans can do to protect themselves. Thank you.
Excellent stuff!
Awesome interview.
A splendid interview, but it raises so many questions. What is going to happen to the Petrodollar when the world goes EV? Will there be a tsunami of petrodollars cashing out of US Treasury securities, as OPEC countries fund their budget deficits from savings? Will that cause Bond prices to rise and asset prices to crash, resulting in stag-deflation? OPEC started stagflation in the 1970's, will they start stag-deflation this time around? Will increasing interest rates save the US$ before it loses its position as the number one global trading currency or has the Fed/Government something else in mind? Cryptodollar ?
I think before the world goes EV people will realize energy is needed to charge those EVs, coal mainly, which the energy grid won't handle, and all the energy needed to recycle all those EV car batteries. It's going to be a disaster which governments will use as an opportunity to pilfer.
Seeing this video came out is like a child looking under the Christmas tree for presents!
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Can't listen any more after the first 10 min. Rising home prices, rising commodity prices, lumber, copper, rising asset prices, rising gas prices, rising food prices, yeah sure sounds like deflation to me. This guy needs to leave his academic tower and get out in the real world.... Unbelievable!
Amazing interview
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
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Domestic producers are gaining market share and our trade deficate is going up at the same time?
Heh, heh, "trade defecate".
This guy lost me at deflation. According to Investopedia, deflation is a general decline in prices for goods and services, typically associated with a contraction in the supply of money and credit in the economy. Prices of most things (other than electronics) have increased, the money supply has increased dramatically (stimulus) and as far as I know credit has not contracted. He says a lot of intelligent things, but I just don't follow it when everything around me costs so much more than it did a year or two ago. Am I missing something?
No but if they keep us utterly confused we won't knowed the NWO is stealing everything and we will own nothing and be happy about it.
Inflation (democracy fuelled monetary policy) v Deflation (technology)
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
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So Peter Schiff is wrong on stagflation then ? Macro competing ideology confuses so much
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
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This was so great! Thank you !
𝘛•𝘩•𝘢•𝘯•𝘬•𝘴 𝘧•𝘰•𝘳 𝘞•𝘢•𝘵•𝘤•𝘩•𝘪•𝘯•𝘨. 𝘧•𝘰•𝘳 𝘮•𝘰•𝘳•𝘦 𝘐•𝘯•𝘧•𝘰 𝘰•𝘳 𝘨•𝘶•𝘪•𝘥•𝘢•𝘯•𝘤•𝘦 𝘞•𝘏•𝘈•𝘛•𝘚•𝘈•𝘗•𝘗 +->1->5->1->6->7->7->8->7->6->7->7...
We are not really a nation of laws or enforced laws It depends on who beaks the law. Some of us can break bigger and more laws than others. Think Hillary and Hunter.
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Awesome interview....
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Packing us into cities like sardines to fight for scarce jobs hardly increases our standard of living even though gdp per capita may be rising.
I’d take a reduced population any day over a few extra percentage points of gdp per capita!!
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It’s a catch 22. More people fighting for equal or lessor number of jobs, but we need population growth to spend.
Why are commercials so ABRUPT!!!
These guys lose me when they bite into official numbers
The point is that even with official numbers it's screaming stagflation. Using shadowstats numbers... well its bleak.
@@joshuanoble2754 a scam can be ran only for so long
What disinflation are they talking about? GDP? Where is there ANY deflation?? I can’t think of a single thing experiencing deflation (prices).
Not an inflationary situation?! Real inflation was at 8- 10% before Covid 19, and prices aren't exactly going down. So he can theorise all likes about that. I see what I see and I very much feel it in my wallet....
TNKS ALOT RV
Luke Groman has a very compelling thesis about future actions of the gov and the fed
Love this guy, and he nailed it re demographics
I agree with the observations, but as a society we then process this info through the screen of the culture wars. This is our biggest problem in my opinion...
What a refreshing contrarian view
Fed is backed into a corner. We all know human nature when backed into that situation. So I look for congressional meetings in the future with the Fed as he described as going out with a bang. Also… guess you now know why illegal immigration is allowed to continue. Any geopolitical book over the last few decades could explain. Stagflation should be looked at as a temporary blessing/opportunity for most average joes. Calm before the storm for sure. Great interview!!
ahhhh snaps LACY HUNT!!
So Steven Van Metre or Buy PM now? How much will PM really dip in a deflationary liquidity event?
what about shorting an indebted miner like vale?
@@amanzella6508 all it takes is a PM bull run for investors to run in any miner and blow up a short lol
@@3joez3 rearview mirror. Looks like the last few months.
I don't understand how Dr. Hunt can have the view that the U.S. has experienced persistent deflation while simultaneously believing that general living standards in the U.S. have been falling. A fall in the general living standard is a manifestation of inflation.
When they were talking about the fed policies consequences I was reminded of Master Oogway from Kung Fu Panda: “You usually find your destiny on the road you take to avoid it”
Everyone went crazy with ICO, then with Defi, then with NFT, now everyone is going crazy with the RJVX13 algorithm
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
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Does supporting tbe financial sector create asset bubbles?
Daniele is on Aderol 100%
The inflation calc has changed between 1981 and now. Inflation using the 1981 calc is now 10%+.
How so?
great insight
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
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B.S. there is Huge Real Inflation in Core Indicators.
Why can't the fed lend at a -100% interest rate to get the inflation they want?
Well they are basically going to do that in July as then the Government will hand out UBI Universal Basic Income. But it will just be for parents of children. $250 a month per kid forever!
My question about population growth, besides birth rate, the Us has massive immigration. Is it counted in the equation?
Inflation is an increase in money supply. This usually causes an increase in prices if you have more dollars chasing the same number of goods. In the US most of our consumer goods are imported so as our complete to ship us goods for our dollars we won't import inflation through price increases. The inflation we are seeing today has to do with increase in the supply of dollars plus a reduction in the goods available because of the supply chain issues. I have come to realize that commercial banks were the primary mechanism of increasing money supply but they haven't been lending. This where the government through deficit spending monetized by the Fed has taken over. You do see that no imported items like housing and autos have gone way up. Services as well.
Yes The FED has created the dreaded liquidity trap with its massive debt monetization Rt The financial asset price Inflation maybe here to stay However the CPI recent spikes may in fact turn out to be only transitory.The best solution to low velocity of money may mean more direct to consumers stimulus CKs or with the FED digital dollar plans a UBI program for the chronically unemployed
The formulas for GDP ,CPI , unemployment , ect. are completely different prior to 1995. Was Weimar Disinflationary ? We are a Global economy , demographics are meaningless when the next world power has 1.4 billion people.
@doug "...unemployment , ect. [etc.]..." Etc. = Et cetera.
weimar was hyperinflation followed by deflation
This is the script of the newest testament.
Gave our manufacturing products away gave our real growth away
Inflation and Velocity go hand in hand. If the banks aren't lending, it doesn't matter how much QE or "money printing" is done. If they cant get velocity up, we will have secular stagflation! 100%
When I got the actual fact about salaries was during the lockdown. Salaries don't make you rich, I went into trading last year and I bought my first house in the beginning of this year. Then realised I wasted a lot of time 🙃
Recessionary trends... not deflationary trends. Deflationary in terms of real money silver and gold perhaps, but in terms of hyper inflating fiat... well this will be an inflationary depression.
Don't tax cuts have a fiscal multiplier of less than one regardless of whether they're debt financed? I don't see how that can be used as evidence to argue any fiscal stimulus will have a negative effect.
Otherwise, nice interview..
Hey ....The year is already booming and I wouldn't have gone far without you guys...thank you and you can look up Mrs Diana Lynn Serfass online if have any questions to ask and also hit her up for my ongoing program...you can't miss out🥰🥰🥰
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deflation? well this aged like fine milk
Wow!
Do Comey and Brennan realize we are a nation of laws?
You left out two individuals. Susan Rice and HRC.
I hate to tell you, we aren't a nation of laws. We are a nation of elites who manipulate and loot the Sheeple. Ever read about "Shay's Rebellion"?