Something's Eating Your Money!

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  • čas přidán 27. 08. 2019
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    The money that you're saving is worth less every year...why is that? And what can you do about it?
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    --
    Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.
    Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
    Directors: Katie Graham & Andrew Matthews
    Written by: Andrew Matthews
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    Images by: Shutterstock
    Music by: APM
    SOURCES:
    www.thestreet.com/personal-fi...
    www.investors.com/news/econom...
    www.bloomberg.com/features/20...
    theconversation.com/what-caus...
    theconversation.com/venezuela...
    www.seattletimes.com/pacific-...

Komentáře • 900

  • @SeanLei
    @SeanLei Před 4 lety +643

    So True! *If you don't get a 2% raise* then your salary has *decreased in value.* If you do get a 2% raise, don't be deceived! Your salary is *worth the same.*

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety +61

      Exactly right!

    • @nathanh3316
      @nathanh3316 Před 4 lety +3

      bro im subbed to you

    • @SeanLei
      @SeanLei Před 4 lety

      @@nathanh3316 thanks Nathan! No surprise we follow similar channels!

    • @95sweets
      @95sweets Před 4 lety +3

      2% raise? We demand 30% raise in India!

    • @SeanLei
      @SeanLei Před 4 lety +7

      @@95sweets do you get a 30% raise every year? 🤤

  • @JohnHeng
    @JohnHeng Před 4 lety +1450

    Annual 2% raises aren't raises 😂 they're just "inflation-adjustments." Don't think most people understand that!

    • @uptbug
      @uptbug Před 4 lety +209

      Sad thing is I'm happy just to get that. Lots of places don't even do that for employees.

    • @JohnHeng
      @JohnHeng Před 4 lety +72

      @@uptbug yeah I'm in the same boat, as long as I get a 2% raise, I'm satisfied but it doesn't make much sense lol it's not really a raise

    • @uptbug
      @uptbug Před 4 lety +28

      @@JohnHeng I don't know why I didn't think about it before but that is something I could try and negotiate for the next place. Annual CoLA in addition to any potential merit raises.

    • @MikeBNumba6
      @MikeBNumba6 Před 4 lety +69

      @@LG123ABC yup changing jobs or promotions are the only ways to get real raises.
      These companies are cheap and greedy. They spend millions on executive management while paying everyone else pennies.
      Then they waste thousands on bringing in new hires because of their shit turnover rates

    • @chiisana0sekai
      @chiisana0sekai Před 4 lety +27

      And a lot of companies doesn't even offer the inflation-adjustment pay raise. They are technically paying their workers lesser every year... And the worst thing is that people has no choice but to stick to their current job because of bad economy...

  • @fakename7423
    @fakename7423 Před 4 lety +373

    I have noticed the effects of inflation I used to be able to get Burger King spicy chicken nuggets for $0.99 now they are $1.69

    • @shelleygreyrealtor
      @shelleygreyrealtor Před 4 lety +16

      😆😂🤣

    • @lucky-mud
      @lucky-mud Před 4 lety +27

      I used to buy candy for 0.10 pesos now 2 pesos :(

    • @gerRule
      @gerRule Před 4 lety +8

      I used to buy a pint of Guinness for €3.12 but now I pay a minimum of €5.70

    • @lucky-mud
      @lucky-mud Před 4 lety +11

      *Argentina* am I a joke to you?

    • @ratgrandma6540
      @ratgrandma6540 Před 4 lety +7

      Burger king used to have 99 cent whoppers now theyre 2 for 6 dollars

  • @Gustavo-vk5nd
    @Gustavo-vk5nd Před 4 lety +587

    I feel like you guys are my mom and dad telling me important life lessons and I can't thank you enough for it😍

  • @GhostSickness
    @GhostSickness Před 4 lety +311

    I thought this was going to be a video on how much money people waste on food lol

    • @CW25710
      @CW25710 Před 3 lety

      Same

    • @kateg9437
      @kateg9437 Před 3 lety +3

      Me too. I've seen various studies saving the average american spends 2k/year on coffee, eats out 5 times a week, the lowest income people spend 9% of their income on fizzy drinks. Also the amount of food the average person wastes is shocking (I forgot the percentage/cost) Madness!

  • @geofferypmeyers
    @geofferypmeyers Před 4 lety +667

    I thought this was going to be a video about how much people spend on restaurants.. lol

    • @cathhl2440
      @cathhl2440 Před 4 lety +17

      Hahaha... sounds like a good topic for future videos...

    • @MikeBNumba6
      @MikeBNumba6 Před 4 lety +16

      It's really the drinks that kill you when you eat out.
      I usually always get a glass of water. When you order soda or alcohol that's an extra 5 bucks or more

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety +54

      Bahahahaha! Oh...that one's comin. ; )

    • @blackbeltfinance4026
      @blackbeltfinance4026 Před 4 lety +2

      Me too lol 😂 🙋‍♀️

    • @caperr2
      @caperr2 Před 4 lety +1

      Me too lol

  • @ChrisInvests
    @ChrisInvests Před 4 lety +336

    A surprising amount of people fail to realize the power of inflation 👎
    For example, they're happy when they buy a home and after 15 years it's gone up in value--about the rate of inflation.

    • @jasonharris765
      @jasonharris765 Před 4 lety +49

      Better than going down...which happens as well.

    • @jrg305
      @jrg305 Před 4 lety +52

      I thought the point of buying a home was so that you didn't have to pay rent for the rest of your life

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety +23

      Yuuuupppp.

    • @Floatacious
      @Floatacious Před 4 lety +22

      home price increase is not really due to inflation, it typically outpaces inflation. The real reason is that the federal government has guaranteed home loans and so the are given to everyone, thus making a greater demand for houses and driving up the price because everyone can pay more money for them.

    • @shelleygreyrealtor
      @shelleygreyrealtor Před 4 lety +4

      And when you rent, you get...... nothing. So yeah, housing can be a great investment when you understand real estate.

  • @sk8r1049
    @sk8r1049 Před 4 lety +130

    Cost of living has gone up significantly while same household income has been neutral for last 20-30 years

    • @agisler87
      @agisler87 Před 4 lety +9

      Many things have gotten a lot cheaper. It's only where government gets it's greedy hands involved that prices continue to rise.
      www.aei.org/publication/chart-of-the-day-century-price-changes-1997-to-2017/

    • @chungchan2678
      @chungchan2678 Před 4 lety +7

      yhh its called robbery you can thank the banks, central banks and government for that :)

    • @ellenorbjornsdottir1166
      @ellenorbjornsdottir1166 Před 3 lety +3

      income has been dropping in real terms

    • @ellenorbjornsdottir1166
      @ellenorbjornsdottir1166 Před 3 lety +4

      @@agisler87 Don't lie to us Ayn

  • @Felipe.N.Martins
    @Felipe.N.Martins Před 4 lety +44

    When I was a child in Brazil (early 1980’s) my father would go to the supermarket on the same day he received his paycheck and would buy everything for the whole month. A delay of one day would literally mean less food! Basically every home had a refrigerator and an extra freezer to store food. I remember that monthly inflation was reported with a 2-digit figure, hitting around 80% in one single month.

  • @einstein1102
    @einstein1102 Před 4 lety +264

    Hey, Madagascar - my beloved country made it to the video. And it's true, every year we get hit by cyclones coming from Indian Ocean and every year it gets worst. Climate change is real, people.
    Great video - thanks for the enlightenment about inflation. Now more people knows about what the news is talking about when Feds want to cut or raise interest rates :-)

    • @crimsonite1524
      @crimsonite1524 Před 4 lety +7

      i wish you country well, it really seems to have a lot of potential to become a utopia, im from Botswana

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety +8

      Oh wow! How wonderful! It seems like such an incredible and unique place. So glad you're here! Stay safe this season!

    • @aryapatel7615
      @aryapatel7615 Před 4 lety +5

      sorry we never wanted to send cyclones

    • @einstein1102
      @einstein1102 Před 4 lety +7

      @@TwoCentsPBS It's one of the most wonderful place you'll ever visit if you have the chance to do so one day. Our country has its own problems but its welcoming friendly people and natural beauty (70-80% of plants and animals in Madagascar are unique to Madagascar only) will make up for it.
      Sorry for diverting from the video topic but not a lot of people know about my country and any chance I get to tell them a little something, I take the opportunity :-) If you are a football (soccer) fan, recently we made a huge headline in the African Cup of Nations by making it all the way to quarter finals as a first time participant

    • @ambinintsoahasina
      @ambinintsoahasina Před 4 lety +3

      I'm from Mada too, and people know us from the cartoon XD LOL @einstein110 > #ALEFA_BAREA

  • @NateOBrien
    @NateOBrien Před 4 lety +132

    Thumbnail on point

    • @littleretroship6403
      @littleretroship6403 Před 3 lety +1

      A Nate O’Brien comment with only 7 likes? Something is wrong here...

    • @wat2206
      @wat2206 Před 3 lety

      Woah, a verified account with only 2 comments

    • @pauljinadu
      @pauljinadu Před 3 lety

      Hey Nate... Kelly Stamps says hi.
      Reply her email

  • @faithinablanket
    @faithinablanket Před 4 lety +116

    I'm in college now, but this video did more for my understanding of the fed in seven minutes than nine weeks in an AP Macro course. Bless you guys and the good work you're doing!

    • @richardgonzales3341
      @richardgonzales3341 Před 4 lety +9

      Almost anything college can teach you can learn for free on the web. Not to mention all the stuff college makes you study that you shall never need again in your life. Just remember that the mitochondria are the power house of the cell.

    • @faithinablanket
      @faithinablanket Před 4 lety +5

      @@richardgonzales3341 That class was in high school, and as I'm on a full scholarship, I'll take the extra line on my resume, even if some of the information is less than applicable. I do value well-roundedness however! And quite love biology.

    • @ladasodaexplains3355
      @ladasodaexplains3355 Před 4 lety +2

      Faith LaVoie that's the one class I wish I have taken. too bad my high school never offered it

    • @Scott-by9ks
      @Scott-by9ks Před 3 lety

      What university?!!! I am surprised at how many people don't understand how the reserve banking system works.

    • @faithinablanket
      @faithinablanket Před 3 lety

      @@Scott-by9ks (see my reply above to Mr. Gonzales :) ) Either way though, not everyone has access to / the space to learn about some of the more complex parts of the economy! That's another reason I'm so grateful for channels like Two Cents for helping make topics like this accessible to all.

  • @lambbone8302
    @lambbone8302 Před 4 lety +180

    I love the production value but simple ness of these videos. Keep it up!

  • @thedude7319
    @thedude7319 Před 4 lety +151

    This and other financial youtubers really helped the more dreary view I had of the future. Keep it up

  • @ningunoningunos3044
    @ningunoningunos3044 Před 4 lety +75

    2Cents: *Makes video about inflation*
    Me and my argentinean bros: Allow us to introduce ourselves

    • @lincolnshynider6788
      @lincolnshynider6788 Před 4 lety +16

      Bro I'm Venezuelan

    • @Snusnu2977
      @Snusnu2977 Před 4 lety +4

      argentina bros write that down🤣🤣🤣

    • @777simplementenaty
      @777simplementenaty Před 4 lety +3

      Viste cuando sos de Argentina y podrías dar clases de inflación a los otros países. Qué triste!

    • @whalisten
      @whalisten Před 3 lety

      Rindo com respeito 😅

  • @dscrive
    @dscrive Před 4 lety +3

    This past weekend I was looking through a sears catalog from 1972 (I had a good reason) I noticed some things that I was thinking "wow, that was cheap" I then ran the prices through a inflation calculator and realized "oh, that's about the same" except TVs, those puppies have gone waaaaay down in price, 400 bucks for a tiny color TV back then, 100 bucks for a much bigger color TV now.
    Then, I looked up average gas prices adjusted for inflation, the price has actually stayed pretty consistent over the decades.
    Of course, minimum wage doesn't move with inflation, which is why, adjusted for inflation, the minimum wage in 1972 would be nearly 10 dollars an hour today.

  • @GrandWushu
    @GrandWushu Před 3 lety +3

    When you're in a job for 20 years, getting raises and promotions, and they hire temps at the same salary you're making......or more

  • @xoVioleteyezxo
    @xoVioleteyezxo Před 4 lety +5

    It makes me sad that these videos weren’t available when I was in high school! I think all your videos should be mandatory viewing!! You do an AMAZING job of taking complicated topics and making them easy to understand. Thank you for making these videos!!

  • @TheSiddhiDesai
    @TheSiddhiDesai Před 4 lety +18

    Your videos are so easy to digest, even though I've learnt all this is my economics courses, the way you guys contextualise it to real world events and explain its use for saving and investing really helps put things in perspective. Thank you so much!

  • @crystalb.5723
    @crystalb.5723 Před 4 lety +16

    I'm a simple woman, I see a two cents video, I click!

  • @SnowFoxParty
    @SnowFoxParty Před 4 lety +3

    I noticed what eats my money the most is the taxes on everyday needs and items. A 5 dollar trip can turn into a 15 to 20 dollar trip keeping us more and more broke :/

  • @sergiocortesgodoy
    @sergiocortesgodoy Před 4 lety +3

    Really good videos! I have watched like 30 of them in a week! Thanks for making the information so simple to understand

  • @thehibernatingturtle4016

    I'm studying Canadian securities and you guys would be amazing to learn from! So simply put and fun to watch.
    I watch your videos on the train to work and at lunch. Oh and baking. I just made muffins while enjoying an inflation lesson. 🧡

  • @CleverDoughKids
    @CleverDoughKids Před 4 lety

    🤗💖😍Another great video that takes a complex financial topic and breaks it down into bite-sized, digestible pieces. That's why I always recommend your videos to my financial education for kids parents. I teach them how to help them grow a healthy wealth mentality in their kids (and themselves), teaching them things like goal-setting that actually works, and how to stop that negative self-talk in our heads that holds them back and then I can rely on you both to help me teach the basic financial literacy foundation. It's so wonderful ... Team work makes the dream work, as the saying goes! Great video, look forward to your next one. Will share this one with my members for sure! 🤗😍😍

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety

      Awwww thank you SO much!! You're awesome!

  • @rebeccasingh2713
    @rebeccasingh2713 Před 4 lety +15

    Taking inflation into account my 2% pay rise is actually a real terms pay cut 😳

  • @Phlegethon
    @Phlegethon Před 4 lety +8

    The misinformation on this: the fed doesn’t decide how much new money is printed, that’s auto determined by points 1 and 2 you had

  • @Unc3
    @Unc3 Před 3 lety +2

    Love that accidental BWUK on 1:15

  • @aerashaimasen
    @aerashaimasen Před 4 lety +13

    The financial- wise parents i never had. sighs. I love you guys

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety +8

      Thank you Shai. SO lucky to have YOU!

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety +13

      We love you too. Now go eat your veggies, drink your water, and brush your teeth. ::yells out the window:: MAKE GOOD CHOICES!!!

  • @robertmelvin7908
    @robertmelvin7908 Před 4 lety +4

    I didn't expect this to be an overview of savings vs investing. This was extremely well explained and should be taught in school.

  • @rhythmandacoustics
    @rhythmandacoustics Před 4 lety +17

    Federal Reserve actually promotes inflation due to the Fractional Reserve banking.

    • @Hybridhearted
      @Hybridhearted Před 4 lety +3

      lol They left that part out- inflation generally isn't a thing unless new money is being printed or there is a supply shortage of some kind. In a healthy capitalist economy, prices actually drop or stay neutral as wages rise.

    • @joshuaa.kennedy8837
      @joshuaa.kennedy8837 Před 4 lety +2

      @@Hybridhearted this video is so misleading. They make inflation and deflation like it is normal for money and leave out the fact that we don't have money we have currency that is stealing your time from you.

  • @MC-dn8if
    @MC-dn8if Před 4 lety

    Great video, glad to see you covered this!
    I think discussions about the federal reserve & inflation lead into discussions around supply vs demand side economics. I.e. why is growth seen as the counter balance to inflation for the Fed. This is also something that there is a LOT of confusion & ignorance about in the general public.

  • @VIDEOHEREBOB
    @VIDEOHEREBOB Před 4 lety +2

    Excellent tutorial. We could all save more money too by just changing our mindset and learn to do with less. Truth is some of the things we spend money on, we simply have alternatives, even the mundane things like paper towels!

  • @nicholasalonzo3499
    @nicholasalonzo3499 Před 4 lety +71

    If only we could educate people that raising the minimum wage is a form of cost push inflation.

    • @CarFreeSegnitz
      @CarFreeSegnitz Před 4 lety +22

      If only we can teach people that waiting on capitalists to do the right thing is a fool's errand. Just look at history, the Gilded Age (~1865- ~1894), when capitalism was completely unfettered. Rampant monopolies crushed workers and stifled innovation. A small number got stinking rich but the vast majority lived terrible lives.
      The myth that what's good for corporations and the rich is good for the country is not true. Deregulation, unfettering capitalism, over the past 40 years has stagnated wages. We're told that tax cuts and deregulation will boost employment and wages. We witness corporations use tax havens and stock buy-backs to concentrate wealth. Several generations ago households could support themselves with a single income. Today households can barely get by with multiple jobs and a gig or two on the side.

    • @yoavmor9002
      @yoavmor9002 Před 4 lety +1

      @@CarFreeSegnitz Monopolies are the only thing that we cannot allow to exist in a truly capitalistic society

    • @barvdw
      @barvdw Před 4 lety +4

      Better even, make them linked to the consumer index, so they keep pace with inflation in the future, too, and it's not a yearly battle to 'raise' it.

    • @DustinDawind
      @DustinDawind Před 4 lety +11

      If only we could educate people that if you don't raise the minimum wage to keep pace with inflation each year, minimum wage workers make less every year.

    • @averagejoey2000
      @averagejoey2000 Před 4 lety

      @@CarFreeSegnitz a stock buyback does not concentrate wealth. the money exits the company

  • @everythingzen2428
    @everythingzen2428 Před 4 lety +7

    Your videos always make me feel guilty about my financial status, but tough love is better than no love! Thanks, as always!

  • @lionzion89
    @lionzion89 Před 4 lety

    Hey guys. I'm a fan of your videos, and also a Venezuelan. Thanks for mentioning my country in the way that you did in this video. You didn't "edulcorate" the message, but actually pointed the country's unthinkable inflation issue directly at the authoritarian (and criminal) regime of Nicolás Maduro.
    Thank you very much, really.

  • @LuckyDogProductions
    @LuckyDogProductions Před 4 lety +1

    Home prices only increased 3 to 6% per year since the 1930's until the 2000's when BANKs jacked up the prices of existing homes to fuel the mortgage scam that came to a head in 2008, where BANKS increased the cost of the home on paper to sell to investors who thought the mortgage was attached to a larger home. In 1999 a blue coller home was $100k, by 2006 the same home was $500K, so the BANK could bundle and sell that debt to an unaware investor in the for of a CDO or CDS, that home value fell to about $300K after 2008, leaving the home buyer hold a big bag of debt on a crap home. Now home prices are at the artificial bubble rate so banks can run the scam again, and keep unfortunate home buyers that did not loose their home and savings due to Realitors, Lawyers, and Bankers as a team, assigning home buyers with SCAM mortgages, thus the home buyer loosing a down payment and the home if they could not weather the SCAM. Ask Bill Moyers at PBS, he knows.

  • @clairedubiel6226
    @clairedubiel6226 Před 4 lety +71

    Put your emergency fund in a high yield savings account!

    • @TEMPARD
      @TEMPARD Před 4 lety

      Why not invest it in broad vanguard index fund ? e.g VWRD or VWRL for non U.S citizens.

    • @jasonharris765
      @jasonharris765 Před 4 lety +19

      Nah....emergency fund you should have immediate access to because it's an emergency. Now placing your 4-6 months expenses into an investment account is a good idea :)

    • @TEMPARD
      @TEMPARD Před 4 lety +3

      Jason Harris sorry correct I didn’t see emergency for some reason

    • @richardgonzales3341
      @richardgonzales3341 Před 4 lety +11

      It's bold of you to assume I have an emergency fund. *cries in student debt*

    • @emmanuel1163
      @emmanuel1163 Před 4 lety +1

      @@jasonharris765 some online banks with high interest rates like Ally let you withdraw from ATMs though

  • @missminty1996
    @missminty1996 Před 4 lety +5

    I honestly love every video. I learned more about finance watching these than ACTUALLY majoring in Finance at a University 😂

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety +2

      Oh dear! I don't know whether to be happy or sad about that. Lolz.

  • @umar323
    @umar323 Před 3 lety

    Awesome content, you covered a lot of ground in a simple, easy to understand way!!!!!!

  • @beeplove5710
    @beeplove5710 Před 4 lety

    Cost-Push and Demand-pull, I am studying the same technical term in my engineering economics. You made it very clear. Thanks A lot.

  • @Em-by9ez
    @Em-by9ez Před 3 lety +3

    It would be cool to see a video about the impossibility of eternal economic growth! Seeing as we are running out of raw resources, and ruining our living spaces and all. Circular economics is really interesting.

  • @adrianalonso489
    @adrianalonso489 Před 3 lety +3

    What’s sad is i learned more in watching these videos than I did in my three years of undergrad studying economics. Please note I am not a slacker I attend almost all my lectures and have a 3.2 GPA in case someone tries to argue to that I should have paid more attention in class.

  • @Nemosw828
    @Nemosw828 Před 4 lety +1

    Yay , thanks for mentioning my country in your video, keep up with your excellent financial education videos, cheers from a fan from Madagascar.

  • @tomislavvinkovic827
    @tomislavvinkovic827 Před 4 lety

    You guys are gold! Thank you for all these lessons!

  • @elizaknight6980
    @elizaknight6980 Před 4 lety +7

    I love your videos, they are always helpful, thanks for making them.

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety

      Thank YOU for watching them! You're why we do this!

  • @Somnxm
    @Somnxm Před 4 lety +6

    That "something" must be starving now cuz I dont got any money 😭

  • @dianajin3861
    @dianajin3861 Před 4 lety

    I love your videos! Can you "run the numbers!" on how printing bank notes and fractional reserve laws also effects inflation?

  • @curtisdavis8594
    @curtisdavis8594 Před 4 lety

    Yes, when I started working 13 years ago. My gas cost took only $20 bucks to fill the tank vs $40.

  • @MoromoMusic
    @MoromoMusic Před 4 lety +3

    Your graphics, animation and humor is perfect!

  • @blackparadoxx9656
    @blackparadoxx9656 Před 4 lety +23

    Inflation is the increase of the money supply.
    So when the FED has to print more money to compensate for budget deficits, then the value of the money in your bank decreases.

  • @JoelReid
    @JoelReid Před 4 lety

    Vanilla is a bad example since the vanillin chemical is really easy to synthesise... and that is what many ice cream producers do. They just move between natural and artificial vanillin depending on cost. High end icecream (often identifiable by the small black specks in the icecream), however, relies almost entirely on natural vanilla, so does not have this option.
    You can see this effect better with vanilla essence, which can have two products, natural and synthetic, and both. Depending on your country food labelling laws, those with artificial vanillin can not label as natural.

  • @tobeytransport2802
    @tobeytransport2802 Před 4 lety

    4:19 San Antonio is still over 5000 miles away from where I live!

  • @adventurouspeach
    @adventurouspeach Před 3 lety +3

    “Somethings eating your money”
    Honestly it’s me
    I’m eating my money....

  • @CAFECITYSTUDIO
    @CAFECITYSTUDIO Před 4 lety +5

    I'm learning more here than my own aprendiendo con Juan Carlos videos in my Chanel 💪👍🏼

  • @Georgije2
    @Georgije2 Před 4 lety

    In the former Yugoslavia where we had hyperinflation people could take loans to build a house and 10 years later only pay the equivalent of a cup of coffee per month to pay it off.

  • @biguniverse9493
    @biguniverse9493 Před 4 lety

    deep teaching . thank you. you’re great explainer.

  • @TheTurdballs420
    @TheTurdballs420 Před 4 lety +6

    Don’t forget if the minimum wage gets raised to $15 or every one is paid a “living wage” it won’t make a difference for this exact reason, inflation. Prices across the board on everything will adjust upwards in no time.
    Read “Economics in one lesson” for more information on this.

    • @VannaMae
      @VannaMae Před 4 lety +2

      Same thing with getting $1k per month

    • @johnnycakemusic4069
      @johnnycakemusic4069 Před 4 lety +1

      Abolish the minimum wage, I say. It's completely and utterly useless today

  • @sammyjohn.production4783
    @sammyjohn.production4783 Před 4 lety +13

    Omg are you from texas austin me too me too didnt knew it owww hi five

  • @PhongNguyen-nz9kz
    @PhongNguyen-nz9kz Před 4 lety

    Yes, mainly in potatoes chips, I remember when it was 50 to a dollar for 1 bag of lays. Now it’s like 2 dollars.

  • @goldiea8598
    @goldiea8598 Před 4 lety

    Scotiabank signed up my husband for a insurance without telling him. He paid hundreds of dollars when he didn't pay his credit card and told him he signed a agreement. He never used it and only gave a $70 refund when we asked. Beware of things you sign. Take the time to read the agreements and then sign.

  • @davidsaenz2449
    @davidsaenz2449 Před 4 lety +9

    It me. I'm eating it. I swear I spend all my money on food.

  • @ridita5221
    @ridita5221 Před 4 lety +34

    I tought this is a video about obesity and it's costs.

  • @littlelyndseylou
    @littlelyndseylou Před 4 lety

    Great video as always. Given the connection with PBS (and how this feels like a grown up version of the educational blurbs we watched growing up on PBS) , I feel like the patreon plug at the end should say "this program is made possible by contributions from patrons like you!" :D

  • @marketmaestro4089
    @marketmaestro4089 Před 4 lety

    I was hoping this was going to be on grocery shopping!

  • @chhe5433
    @chhe5433 Před 4 lety +12

    As a teacher, we have to go on strike to even get a raise that goes near to meeting inflation. God forbid we ever have a pay increase that actually beats inflation. Great video by the way!

  • @Blabla130
    @Blabla130 Před 4 lety +4

    A Macbook Pro costs 1 Bitcoin?! Apple have gotten more expensive then I thought...

  • @JP2GiannaT
    @JP2GiannaT Před 3 lety +1

    Yay, someone talking about Venezuela!
    I mean, sad that it's a situation to talk about. But I can't figure out why no one has been talking about it that much.

  • @charleslescoe6617
    @charleslescoe6617 Před 4 lety

    I truly love you guys and what you two do. Not only has your advice and videos helped me tremendously but also that manly mustache is just so awesome to look at, I am jelly lol

  • @willgraves5848
    @willgraves5848 Před 4 lety +9

    I love how literally everyone into money jabs at bitcoin 😂

  • @KuruGDI
    @KuruGDI Před 4 lety +7

    I can get Hawai, but got San Antonio. I think I rather stay at home.

    • @richardgonzales3341
      @richardgonzales3341 Před 4 lety +1

      I would much rather travel to San Antonio than Hawai So i can hit the BBQ places on the way.

    • @Nepthu
      @Nepthu Před 4 lety +1

      San Antonio is a great place to vacation--the Riverwalk, Natural Bridge Caverns, Missions Historical Park, Six Flaggs and the Mexican Market are all awesome. However, don't go in the summer. Winter/Spring/Fall are the times to vacation here. I'm sure Hawaii is hell in the summer too.

    • @richardgonzales3341
      @richardgonzales3341 Před 4 lety +1

      @@Nepthu Yah, Christmas time is my favorite time to go as everything is much more festive. Also, on cold nights most restaurants have torches set up which add to the ambiance.

  • @matteor6
    @matteor6 Před 4 lety

    Hi guys, nice videos, I've been watching them for a while now! How did the road trip go btw, I'll be happy to hear some news!
    I had a question for you, maybr unrelated, so no problem if you can't answer. What would be the estimated cost range of making the animations for your videos? I mean, supposing that the script is known, as well as some sketches are defined... so just the design work. Might be confidential, but I'll take anything you can say. Thinking along the lines of doing some kind of similar work on my side, getting out of the rat race and all ;)

  • @gilcooper6548
    @gilcooper6548 Před 4 lety

    Mad shade of the river walk lol

  • @marpsr
    @marpsr Před 4 lety +23

    You’re glossing over the difference between price inflation and currency devaluation.

    • @jeremygermenis8036
      @jeremygermenis8036 Před 4 lety

      I liked how they used Venezuela as the example for bad inflation but did not mention it was because of the reasons growing population and demand

    • @agisler87
      @agisler87 Před 4 lety +1

      @@jeremygermenis8036 I'm sorry, I am not sure I understand your comment. Are you saying Venezuela inflation is from a growing population and currency demand?

    • @shadowmax889
      @shadowmax889 Před 4 lety +2

      @@jeremygermenis8036 No, Venezuela actually has a shrinking population and the inflation rate still is the highest in the world. It's because lack of local production, lack of coherent monetary policy, price controls, shrinking of the federal reserve and more importantly inorganic money (the government just prints money out of nowhere to pay for internal debt)

  • @rea8585
    @rea8585 Před 4 lety +16

    You guys rock it in every video!

    • @TwoCentsPBS
      @TwoCentsPBS  Před 4 lety

      Awwwww thanks!!

    • @Floatacious
      @Floatacious Před 4 lety

      ​@@TwoCentsPBS I know that most people will not be able to watch this whole video, but please make some time in your schedule to watch this video, you are being lied to. czcams.com/video/xNc-xhH8kkk/video.html

  • @Leonpavo
    @Leonpavo Před 4 lety

    I didn't realize you guys were in Austin. Can ya'll do a video on buying vs building a home? This is a real dilemma in most parts of Texas.

  • @thesusboomerroblox6516

    Me: looks at dog
    Dog: oh crap run

  • @girishkhanna199
    @girishkhanna199 Před 4 lety +4

    Its too late im already being eatennn!!!

  • @moist7322
    @moist7322 Před 4 lety +24

    Good video. But they were too scared to say the word socialism when talking about Venezuela lol; don’t want to trigger the mob

    • @Rooneytunes01
      @Rooneytunes01 Před 4 lety +4

      Moist i thought the exact same thing

    • @lionzion89
      @lionzion89 Před 4 lety

      I'm from Venezuela. Though they didn't mention the word Socialism, I do think that they did a great job at pointing the root cause of our inflation issue: a corrupted, criminal (and Socialist) Government.

    • @ellenorbjornsdottir1166
      @ellenorbjornsdottir1166 Před 3 lety

      @@lionzion89 A similar problem could happen without the socialist aspect.

  • @elizabethstein369
    @elizabethstein369 Před 4 lety

    Working in retail I need to explain inflation frequently. Customers complain that years ago the same product cost few bucks less than now.
    I also need to explain taxation to adults all too often.

  • @ricardoapontem5886
    @ricardoapontem5886 Před 4 lety

    Great information guys! I love your channel. Thanks! Hugs from Sweden!

  • @Scott-by9ks
    @Scott-by9ks Před 3 lety +3

    Ok, 8% is still ridiculous! I've been investing for 20 years and I can tell you that there is no rhyme or reason to the stock market. It makes absolutely no sense and real estate has been my best performer by far! Small businesses preform better but are far more risky. I'm stacking cash looking for my next opportunity.

  • @iwantmyfriescrispynotburnt3981

    Oh.... I thought you ment the cocai-
    ... my bad.🥴🥴 Great video! 🥰🥰

  • @digitalmop
    @digitalmop Před 2 lety +1

    4:18 taking jabs at San Antonio had me laughing

  • @alfredgomez3128
    @alfredgomez3128 Před 4 lety +1

    The clearest explanation I've heard of this subject on CZcams yet

  • @20gdetitane
    @20gdetitane Před 4 lety +3

    0:26 I get the joke (bitcoin being the money of the future) but you did a mistake here. Bitcoin doesn't have inflation. It's capped at 21 million units, and the program cannot change except if 51% of users decide to, which nobody wants as we're all very satisfied with having no inflation.

  • @abrahemsamander3967
    @abrahemsamander3967 Před 4 lety +4

    So basically just fight to bring back the gold standard or die trying? Great video though.

    • @DustinDawind
      @DustinDawind Před 4 lety

      Ummm no. There is a very good reason we dropped the gold standard. Go look at a graph of the price of gold over the past hundred years and compare it to a graph of CPI (ie the value of $1) over the past hundred years. What you will find is that the value of gold fluctuates dramatically. compared to CPI which has increased very steadily and predictably. If you had an ounce of gold in 1980 it would have been worth over $2,000. But in 2001 it would have been worth less than $400. And right now it would be around $1,500. A strong economy is highly dependent on a stable, predictable currency. You would never keep $2,000 in the Bank if you thought it might drop to $400 in a few years. You would invest it in something that was more predictable and more stable. The fact that the Fed keeps inflation at roughly 2% per year is the reason that the dollar is the world's Reserve currency. Countries that have less stable currencies see the history of the dollar and they invest their money buying up dollars because it is a stable, predictable investment.

  • @lagflag
    @lagflag Před 4 lety

    Another awesome educational video! Good job guys!!

  • @CK-ti2mf
    @CK-ti2mf Před rokem

    the problem is funds usually returns way less than 5% let alone 8% after all fees deducted. I haven't seen any growth on my retirement mutual fund even after switching banks (except for the money that i put in). It's just like putting money into my cheque account but I can't touch it.

    • @luisandrade2254
      @luisandrade2254 Před rokem

      Mutual funds are not good investments you should try indexes

  • @edwardrhoads7283
    @edwardrhoads7283 Před 4 lety +8

    20 years from now macbooks will cost 1 million bitcoin, but not because macbooks will be that much more expensive but because bitcoins will be worth a lot less.
    That being said 3 years from now macbooks will cost about 0.001 bitcoin....

  • @Intoxikacion
    @Intoxikacion Před 4 lety +7

    You forgot to mention US imposed sanctions for Venezuelas current economic situation

    • @lionzion89
      @lionzion89 Před 4 lety

      So? Most of the sanctions are aimed directly at corrupted and criminal individuals within the Venezuelan Government. Also, Venezuela's hyperinflation started long before the sanctions started. So, what are you talking about? you have no idea about the subject.

    • @realtlt
      @realtlt Před 3 lety

      Oh shut up you missinformed leftist: US sanctions came years after hiperinflation started in Venezuela. Stop watching Telesur and start reading more.
      And I'm Venezuelan, btw.

  • @alvinballesteros1802
    @alvinballesteros1802 Před 4 lety

    Nice Thanks .. Even here in the Philippines your knowledge applies.. This is universal..

  • @chepe263
    @chepe263 Před 4 lety

    Half he office looks at me weirdly every time I cheer when we RUN THE NUMBERS!

  • @pallasathena1555
    @pallasathena1555 Před 3 lety +7

    Don’t think of inflation as prices going up, think of it as your money’s value going down

  • @ZacharyLaid
    @ZacharyLaid Před 4 lety +12

    *Cure to inflation is investing.*

    • @crimsonite1524
      @crimsonite1524 Před 4 lety

      and entrepreneuship

    • @dwafieuafoa7272
      @dwafieuafoa7272 Před 4 lety +1

      A fellow Graham Stephan subscriber ;)

    • @Montfortracing
      @Montfortracing Před 4 lety

      @@crimsonite1524 why should investing and entrepreneurship be the only ways to cure inflation?

    • @crimsonite1524
      @crimsonite1524 Před 4 lety

      @@Montfortracing i wish there were many and easier options, but its just reacting to economic forces, just like when scientists wanna escape gravity, its either a powerful rocket or a giant slow balloon. unless you know of another way? no need to fear challenges, just adapt to what works

    • @Montfortracing
      @Montfortracing Před 4 lety +1

      @@crimsonite1524 oh I don't fear challenges, and I know that those are the only ways to cope with inflation. I just think that there's something wrong with a financial and economic system where the only means to retirement is investing.
      I found an interesting article a few days back where the author said that inflation is not really necessary for a healthy economy. Interesting. Of course he'll get scolded for that view, but I do think we've all kinda gotten to a point where we've really taken our current economic system for granted, when there have been other proposed free market theories that still need to be tried.

  • @mno2643
    @mno2643 Před 4 lety

    6:05 I really hope that was a reference to super smash bros

  • @YIPMAN23
    @YIPMAN23 Před 4 lety

    You guys are great! Simply amazing, keep up the fantastic content!!!!

  • @alaingarcia4756
    @alaingarcia4756 Před 4 lety +4

    End the fed, return to the gold standard ,constitutional money

    • @Iffy50
      @Iffy50 Před 4 lety +2

      We only have about $10 billion dollars in gold. It would be completely impossible for business to operate with a gold standard.

    • @agisler87
      @agisler87 Před 4 lety

      @@Iffy50 That's not even remotely true. $10 billion is derived from the amount of gold X exchange rate. If demand for gold goes up then so does the $ of gold.
      Also we were on the gold standard until 1933.. not that long ago.

    • @Iffy50
      @Iffy50 Před 4 lety

      @@agisler87 True, we were on the gold standard. People started hoarding it when the economy went bad and there wasn't enough in circulation to conduct business. People were forced to turn in their currency by law and the price of gold relative to dollars went up considerably in one year. Also, you are correct that we have 310 billion dollars worth of gold based on current market value. That is still nothing compared what we need for conducting business.

  • @KTSpeedruns
    @KTSpeedruns Před 4 lety +3

    Thank you for getting the facts right about Venezuela instead of spreading fear like most politicians.

  • @naderaladawi4326
    @naderaladawi4326 Před 3 lety +1

    Very Insightful. I wish if I listened to this 30 years earlier. :)

  • @nooodisaster
    @nooodisaster Před 4 lety

    I just binged watch soo many of your videos, I love them! You got a new sub :)