Another problem we're facing is big corporations taking advantage of the inflation by raising prices not even affected by the supply chain.
@Striker50_
2 жыл бұрын
You guys missed the point on the fact that wages are not keeping pace with inflation. Housing is basically at a runaway. In the 1970s a home was about 2.2x the average salary. It is now 8.9x. Fuel, healthcare, and education all ran away also. Businesses ironically are reporting record profits this past 2021 while they were supposed to be having "labor shortages"
@AbrahamsYTC
2 жыл бұрын
Various reasons for 2021. To put it bluntly. 1) most significant factor is governments printing massive amounts of artificial demand and killing off supply through shutdown of economy 2) big businesses let go of many workers, an opportunity to fire their least unproductive people 3) workers that worked throughout the 'rona were most likely more productive and driven, they took on the laid off people's work I have seen this play out anecdotally and speaking with other people. Obviously not the case everywhere but I suspect it's not just me. Artificially high demand + low supply of goods/services is inflationary. At my job, many managers were demoted and some office job people were let go/reduced hours to Work From Home/replaced by automated programs. The workers that stayed took on the extra work. Add it up altogether and you get record profits.
@AbrahamsYTC
2 жыл бұрын
I hope businesses recognize their profits this year and payout accordingly, especially to their workers that took on the extra work. That being said I think some businesses know that government is going to stop the gravy train so they don't feel confident in hiring just about any person/raising starting wages.
@mrdonetx
2 жыл бұрын
Take a look at every time the phrase "We're from the government and here to help." When the government started guaranteeing home loans builders and lenders no longer had an incentive to keep costs reasonable so people could afford it. When the government started guaranteeing school loans tuition started to increase rapidly because schools no longer had an incentive to keep costs low. Anything that the government has a guarantee program will always outpace inflation. It's guaranteed so lenders will loan people who shouldn't probably have a loan and builders will inflate costs because those loans will be easily more. Schools will inflate tuition and build name buildings after people just because and spend more on an athletic stadium than ensuring students get a quality education.
@AbrahamsYTC
2 жыл бұрын
@@mrdonetx +1 agreed. Almost everything the government touches eventually turns to 💩.
@JohnLee-dp8ey
2 жыл бұрын
@@AbrahamsYTC Not to mention that COVID has sped up automation of the workforce
@BlackFrostmourn
2 жыл бұрын
"If your wages increased with inflation." Wow, imagine that happening! That would be great! Can we have that... please?
@Smaltese93
2 жыл бұрын
I haven't finished the video yet, but wouldn't wages going up along with everything else kinda defeat the purpose ?
@BlackFrostmourn
2 жыл бұрын
@@Smaltese93 What exactly do you mean by "everything else"? They don't necessarily address what you're asking in the video. Wages going up doesn't defeat the purpose of inflation though, because it's not a 1:1 ratio. You don't have to increase a wage by $1 for every $1 you raise the price of a good by. This is one of many reasons.
@Smaltese93
2 жыл бұрын
To be clear I mean. We just raised minimum wage to $15 hr Rent, food, gas, utilities also increase in price. The COL increased just as minimum wage did. So it defeats the point of raising the minimum wage. Especially if you made above $15 but not too much more. Those people really got screwed
@BlackFrostmourn
2 жыл бұрын
@@Smaltese93 You're oversimplifying it, to the point where I believe you're incorrect. The video does too, and I believe the "wage-price conundrum" they describe is also not a real issue. They also say that that issue is definitely not occurring right now, regardless. "The COL increased just as minimum wage did." This has honestly never been the case, at least with the USA. An employee provides more than $1 of value per $1 of salary they earn, otherwise none of this whole employee vs employer thing would really work. Therefore, whatever COLA needs to be made shouldn't be bigger than the increased minimum wage, assuming it was raised the proper amount and not too much or too little. As for the other part of what you said, yes, poorer people always get screwed in a capitalistic society.
@MikeCrawch
2 жыл бұрын
6:04 that’s why they gave the wage-price conundrum.
@VarsVerum
2 жыл бұрын
Seeing Philip without his glorious stache is like Oreo without the cream. ITS NOT THE SAMEEEE 😭😭
@michaelsmutnick
2 жыл бұрын
It better be back on the next video!!
@doorHtJB
2 жыл бұрын
He’s the only one who can rock that stache.
@mrtimothylee
2 жыл бұрын
Unpopular opinion: the cookie part of the Oreo is the best part.
@Emi-sb4qd
2 жыл бұрын
I screamed NOOOO and then threw my TV out the window
@aprildawnsunshine4326
2 жыл бұрын
Lol all I can think is he looks like a teenager now!
@Iyoh101
2 жыл бұрын
I didn't even notice the moustache! 😂😂😂😂
@honeypeadigital
2 жыл бұрын
LMFAO! Me neither!
@501mbm
2 жыл бұрын
I definitely noticed….. the porn stache….
@RyanBlockb5
2 жыл бұрын
Did you notice the ink on his elbo?
@youreacrackhead8887
2 жыл бұрын
@@501mbm talking about the guy from orange is the new black??
@dandiaz19934
2 жыл бұрын
You didn't notice because it's NOT THERE
@theopticyte6911
2 жыл бұрын
Damn the CGI is so realistic, I almost thought for a second that Philip actually cut off his mustache, but there's no way *right?*
@pabloolivero2783
2 жыл бұрын
Here in Argentina living with 50% anual inflation, is very bad. I lived under very high inflation all mi life, is mentally exhausting, yo can't think very long term, and all yo earn devalues almost the next week. Don't underestimate this.
@dennisnoone7427
2 жыл бұрын
Thats crazy, where do people invest if they have anything left after their monthly expenses?
@pabloolivero2783
2 жыл бұрын
@@dennisnoone7427 We buy dollars jajaja, and stuff that doesn't devalues so quickly. Im just saving to eventually get the f.. out of here. But every month we can buy less dollars because the salaries don't adjust ass quickly with so much inflation.
@pabloolivero2783
2 жыл бұрын
Sorry for the bad English
@Yandel21ableify
2 жыл бұрын
America is morphing into Venezuela 2.0
@Yandel21ableify
2 жыл бұрын
@@pabloolivero2783 You Argentinos are the next Venezuela of South America.
@ProjectPhysX
2 жыл бұрын
Because money printer go brrrrr...
@GhostSickness
2 жыл бұрын
Great video but you completely forgot to mention all the money printing since COVID in the US… That isn’t transitory.
@derpmansderpyskin
2 жыл бұрын
Much of that money is actually transitory. The Fed prints money to buy bonds during bad times, and then they sell the bond during good times and takes the money out of circulation.
@charlesg7926
2 жыл бұрын
This channel’s Authors are super liberal apparently but everyone with common sense knows Joe Biden is the #1 cause of the cost of living rising. I hate to say it but some rich investors don’t mind because their asset values will rise. I don’t wanna screw over America tho
@ComradeCorwin
2 жыл бұрын
@@charlesg7926 Joe Biden is just one person in the enormous machine. On top of that every administration has only made minor tweaks to the formula for as long as I've been alive. It's just their media presentation that the last two presidents mostly differ, which of course, is what the media focuses on and pretends it represents actual policy.
@iMeGaMaNxGGx
2 жыл бұрын
We cannot ignore the bigger problem which is the printing of the dollar bill from the federal reserve and how much money we printed during 2020.
@audiefortuna2093
2 жыл бұрын
They sure did ignore it though. Didn't mention it once... what does that tell you about what they said instead?
@thedopplereffect00
2 жыл бұрын
Basically they were handed the accepted narrative talking points and rolled with it
@messagedeleted3526
2 жыл бұрын
lol, its PBS...
@bumponlog
2 жыл бұрын
heehee money printer go BRRR
@dustinabc
2 жыл бұрын
@@bumponlog BRRRRRRRRRRRRR!!!
@SirBoberus
2 жыл бұрын
Great, now all we need is wages to rise.....
@Kenxclout
2 жыл бұрын
😂😂😂😂😂😂 good luck hoping that’ll happen
@diyanski3022
2 жыл бұрын
Yep everything went up with like %30, the wage remains the same..
@olandir
2 жыл бұрын
Yeah I don't think we ever need to fear the wage price spiral.
@willabair
2 жыл бұрын
Amen !
@vebtran
2 жыл бұрын
@@olandir I would disagree. Maybe not get more money for your current job, but leaving a job for a higher paying job...
@atrocitasinterfector
2 жыл бұрын
Nothing about the historically unprecedented increase in the money supply?
@elinope4745
2 жыл бұрын
That has no impact, ignore the tiny hat behind the curtain. They don't need your permission to do it, you don't need theirs.
@Geevs80
2 жыл бұрын
Inflation is always and everywhere a monetary phenomenon - Millions on Friedman
@johngorman6641
2 жыл бұрын
First, the FED changed their definition of M1 which made the change in ‘money supply’ seem much more drastic than realty. Second, ‘money supply’ alone doesn’t necessarily affect prices, money supply + the velocity of money affects prices (in a time when people aren’t spending their money ie pandemic, more cash is needed to keep up the same amount of economic activity).
@dustinabc
2 жыл бұрын
Money printer goes BRRRRR!
@dustinabc
2 жыл бұрын
It's been great to see more and more people understanding the concept of #InflationTax the last year and a half. When the government creates new money out of thin air, the value of the new money comes from taking a little value out of every dollar that existed already. The federal reserve is STEALING from everyone, especially those who are money savers, or that live on a fixed income.
@clairbear1234
2 жыл бұрын
I love how they think we are just more likely to “accept” price hikes in things like food, uh … no I actually just have to eat to stay alive
@nzuckman
2 жыл бұрын
Right? Businesses couldn't even get away with paying minimum wage if food stamps didn't exist because nobody would be able to feed themselves on these wages
@voxs2925
2 жыл бұрын
Yeah no theyre right, consumer spending has gone up every single quarter this year.
@cable30
2 жыл бұрын
Prices stay high if traffic dont mind paying the high price. but it gonna get cheaper if u buy the cheaper brand to save anytime.
@nzuckman
2 жыл бұрын
@@cable30 people need to eat food and literally everything, including the cheapest stuff available, is getting more expensive faster than anyone's wages are increasing.
@bcrawfordiv
2 жыл бұрын
Agree. The U.S. has to be careful not to let inflation run rampant. Petroleum prices in kazakhstan nearly doubled in a month and to put it lightly their citizens didn’t take to lightly to it. The horrible political environment played a part too but the price increase was the breaking point.
@cheeselover626
2 жыл бұрын
Good cover overall of the issue at hand although I wish you guys would have discussed the differences between monetary inflation and price inflation.
@nozem-dinglyboy-rebellion
2 жыл бұрын
Exactly! They should react to your comment. Good mark!
@dustinabc
2 жыл бұрын
Bingo!
@AskMiko
2 жыл бұрын
Agree
@-whackd
2 жыл бұрын
This was a horrible "overall" cover of the issue at hand. They never showed any charts of the Federal Reserve's trillions of dollars of money printing. Zero mention of QE/Fed asset purchases that are in the trillions. It's almost like they're hiding it to keep you all as deluded slaves.
@Nikki-ks6wi
2 жыл бұрын
^ it is strange to say on the positive and the topic is about an increase in cost during a 2 year pandemic. Very flighty assumption to make.
@anascoinquest1121
2 жыл бұрын
First of all, I did not realized how emotionally attached I was to the mustache until it was gone. Also, it is very refreshing to hear solid FACTS on why prices went up rather than emotional & politicized claims that presidents are responsible for overpriced chicken. However, I think it’s overly optimistic to think prices will level of to anything resembling what they were before, especially for necessities where demand is not as elastic. Corporations have already seen what we’re willing to spend. They will not give up the increased profit margins. It’s like the airline industry and their 27 different types of fees.
@danm3047
2 жыл бұрын
Most awesome thing I read all day Bro!!! both the mustache missing and recognizing neutral and fact based econmic commentray. good times
@ErikLiberty
2 жыл бұрын
The video was full of incorrect or misleading info. For example, it said that there are things that the Federal Reserve can do to "fight inflation", without making people understand that the Federal Reserve itself is the cause of inflation. A better word for inflation is dilution. As the Federal Reserve prints more money out of thin air it dilutes the value of the currently existing money. The Fed has been printing money like crazy during covid. Economies that depend on the dollar have seen their prices go up as well because of this. The Politically Incorrect Guide to Capitalism by Robert Murphy: "The government is always quick to transfer the blame for inflation onto someone else; unions, greedy businessmen, and Arab oil tycoons are all suitable scapegoats. Yet these groups can at best raise particular prices, not prices in general. If Americans have to spend more on gasoline, that leaves less money to spend on burgers and sneakers. In order to raise prices in general, the government must print more money. "As Friedman and other economists have documented in countries from Brazil to interwar Germany to Soviet Russia, and from different time periods going back to ancient China, price inflation is always and everywhere a monetary phenomenon."
@caroldieball4293
2 жыл бұрын
"Claims that presidents are responsible for overpriced chicken" hahahahaha I laughed so hard at that😆😆😆
@iluomobravo
2 жыл бұрын
Hmm…I don’t know about “solid facts”. More like analysis backed up by data.
@bigisrick
2 жыл бұрын
#LGB!!!
@TheImperatorKnight
2 жыл бұрын
No PBS, the real reason prices are going up is because MONEY PRINTER GO BRRRR The price increases we're seeing now were baked into the cake years ago, and the ridiculous amount of printing that happened in 2020-2021 hasn't even hit us yet.
@kevinmclarkey621
2 жыл бұрын
Ya, this is some classic texas conservative propaganda
@RWoodOutdoors
2 жыл бұрын
Lots of good points, but no mention at all how the FED is printing ridiculous amounts of money out of thin air???
@Andre-qo5ek
2 жыл бұрын
the federal reserve is a business like any other. trying to get their piece of the honest tax payer through a government that supports business profit over peoples wellbeing. "too big to fail", subsidies on big commodities like meat. also, "out of thin air"... you know we run on FIAT right? moneys been printed from thin air since we got off any standard.
@colombiantom
2 жыл бұрын
This is nothing new. This has been happening since 2008. On top of that the fact that fractional reserve banking continues to exist and inflation wasn't a problem before tells you that just printing money alone, does not affect inflation that much, but is the mixture of multiple factors.
@dustinabc
2 жыл бұрын
@@Andre-qo5ek the federal reserve is like any other CRONY business, but not like a normal business. And while the dollar has been fiat since the early 70s, the rate of new currency creation in the last 2 years has accelerated far beyond anything previous to it.
@orangepeals7210
2 жыл бұрын
what about... say... CEOs increasing their wages with inflation ahead of workers? that seems like a pretty big problem.
@cable30
2 жыл бұрын
Corps do alot for their own gain and why some or many hate corps cause of greed anytime.
@bloodwargaming3662
2 жыл бұрын
Classic example Kellogg's
@dustinabc
2 жыл бұрын
Employees are free to start their own companies, yes? Why don't they? Possibly because running a company is extremely difficult. If a job is extremely difficult, it is likely to pay more than a job that doesn't require much skill, intelligence, or risk.
@mro2352
2 жыл бұрын
Inflation is temporary, prices aren’t. That has been said by the fed.
@stachowi
2 жыл бұрын
prices don't come down... inflation is a regressive tax that hurts the poor the most.
@mro2352
2 жыл бұрын
@@stachowi That's my point. The majority of people, not just here, are pushing that don't worry, inflation is going down. Although that may be true the prices will not be coming down, the fed will not allow it as this will be viewed as deflationary even though it would be the prices would be settling down the properly. They would be pumping stimulus into the economy to prevent the "deflation". Either way, the common person is screwed in this fashion.
@stachowi
2 жыл бұрын
@@mro2352 yup, because they know the uneducated won't know why it's happening, those with assets (the rich) will only get richer.
@ajrobbins368
2 жыл бұрын
@@mro2352 Low (0-3%) rate of inflation encourages economic growth. Companies grow faster with low interest debt. The wealthy must invest in assets to preserve their wealth or it will be eroded by inflation. Economic activity stagnates under deflation. Hoarding money becomes the winning strategy. Savers get higher interest rates yes, but borrowers will be driven out of business. Companies cut expenses to preserve cash. The wealthy grow richer as their cash reserves increase in value risk-free! Meanwhile normal people lose work and spend what little cash they have to survive, missing out on value appreciation.
@ajrobbins368
2 жыл бұрын
@@stachowi To summarize my long-winded rebuttal: Take a course in economics. Deflation discourages economic activity by rewarding cash hoarding. Inflation encourages growth by rewarding business ventures and investment.
@reshabagarwal
2 жыл бұрын
Inflation is not "temporary" and considering how the US is printing money and increasing the debt ceiling. We should be worried.
@unfairsanic5089
2 жыл бұрын
Nah we will bounce back
@reshabagarwal
2 жыл бұрын
@@unfairsanic5089 just buy bitcoin and chill.
@SimGunther
2 жыл бұрын
In a currency reliant on usury, inflation is a feature, not a bug. Let civilization fall and build anew.
@juzoli
2 жыл бұрын
“Not temporary” in which way? Will the prices go back to where they were before, and a +5% will be negated by a future -5%? Not likely. But will the 5% will go back to the regular 2% once the supply-chain disruptions are over? Yes. You can check all price increases, and you will find a specific issue causing it, other than “too much money on the market”. So yes, this is still transitory, but it doesn’t mean that the inflation which has already happened will be reversed. Only further price increases will be stopped. Of course the pandemic needs to stop first…
@Andre-qo5ek
2 жыл бұрын
@@SimGunther glad to hear someone else is talking about usury. people don't always seem to grasp this.
@HandidoorusMaximus
2 жыл бұрын
That's like the most propaganda video I've seen in a long time. This inflation is not "transitory" and people did not magically save thousands to justify price increases (Cares Act btw handed you - if you were lucky - $1400. Now stretch this over the duration of the pandemic and it's barely a weeks groceries). One thing that would actually help people - and I'm ready to die on this hill: Demand a livable wage and yearly inflation adjustment for christ sake. How are you ok with an effective paycut EVERY YEAR?!
@marzipan2555
2 жыл бұрын
One, you're forgetting about unemployment. Often, boosted unemployment paid more than working at McDonald's. I know plenty of people who were able to save money while that was going on
@luiantfercif
2 жыл бұрын
Inflation is caused by the massive input of new money, especially from the FED
@007_Sun_Tzu
2 жыл бұрын
Prices are up...coz....Money printer going BrrrrrrrrRrrrrrrr
@goldwolf0606
2 жыл бұрын
Greed is making prices go up… I’ve lowered the prices at my shop in the past year because I’m not greedy. Business has increased for me since I did that. Those other businesses that are raising prices… just boycott them and they will lower their prices.
@dustinabc
2 жыл бұрын
FLOODING the market with **trillions** of new dollars must be addressed in any good video about the current inflation situation. The federal reserve has created new currency out of thin air, and the value of the new currency comes from stealing a little value from each dollar already in existence. Which hurts the savers, the poor, and those on fixed incomes the most. I'd highly suggest educating the masses on how the regressive #InflationTax works.
@ThePreparednessGuyOfficial
2 жыл бұрын
They did a previous video on inflation and failed to give the Federal Reserve credit for inflation by creating massive amounts of new money. It’s almost as if they are intentionally leaving it out…but a youtube channel targeted at young audiences and publicly funded through PBS couldn’t possibly be misleading us on purpose… Although thinking they accidentally left it out pretty much completely discredits them, so I don’t know which is worse.
@david_is_achu
2 жыл бұрын
I'm 17 and got no bills but i still notice inflation when Chipotle prices go up lol
@Yandel21ableify
2 жыл бұрын
Get a job and buy Crypto
@armen_kocharyan
Жыл бұрын
He would be broke now, if he listened to you
@LuxuryNoCap
2 жыл бұрын
I helped solve the problem on my end by leaving one job of 8 years and going to another with a 15 percent pay increase lol. I was not going to just let prices eat away my salary more and more without exploring my options.
@BrooklynBaby100
2 жыл бұрын
Nice. What state are you in?
@LuxuryNoCap
2 жыл бұрын
@@BrooklynBaby100 Georgia
@abarbar06
2 жыл бұрын
It's disturbing in a video about inflation, you didn't once mention the monetary supply
@rayabe
2 жыл бұрын
85% of US population thinks inflation has nothing to do with money printing lol They are parroting that :))))
@dadnumber1140
2 жыл бұрын
I’m super disappointed in the lack of mention on the increase of the money supply. This is a huge valuable in the input of inflation. I haven’t had a raise in 8 years. I got kids to feed but you are totally correct that my money is devalued. I started buying bitcoin as I have very little confidence in the us money in the long term
@JS-sv4ol
2 жыл бұрын
Agreed - this seemed like forced ignorance or intentionally leaving it out to shift conversation away from rampant money supply and government
@JS-sv4ol
2 жыл бұрын
Would add that unemployment fraud has been insane
@stealthboi9668
2 жыл бұрын
They are sponsored by PBS. They aren’t won’t say anything that put the government in a bad light whatsoever.
@Rocky32189
2 жыл бұрын
I'd be curious what field you were in to not get any sort of raise in 8 years. Regardless, you should take the initiate and move to a different company if this is truly the case.
@moxygenpathogen7678
2 жыл бұрын
Because these guys support the establishment they will never mention malinvestment of the government
@karmichaelblue
2 жыл бұрын
Y’all aren’t even going to mention the main cause, which is that the US govt has printed a significant amount of money during the pandemic? The further we deviate from the gold standard, the higher prices go
@SymonSays
2 жыл бұрын
This video feels like it was paid for by companies/governments that don't want you asking questions. "Don't ask for higher wages, you'll create an inflation spiral! Don't think about where the money actually comes from, just spend it! Don't ask about if we really really NEED continued increasing growth, not growing is bad!" I feel like the people who wrote this, think we're morons, who will eat up their financial propaganda.
@dainjahrus
2 жыл бұрын
RIP Moustache, may the legacy live on in our hearts and memories
@abhibhattacharya1582
2 жыл бұрын
Ryan Gosling is incredibly financially literate it’s incredible! Just my two cents
@justanorange2556
2 жыл бұрын
"so, what's going on here? The short answer; Covid." lol. Right. Money printer go brrr
@FaintAura
2 жыл бұрын
Couldn't be because a runaway Federal Reserve making money printer go brrrr
@FinancialShinanigan
2 жыл бұрын
Philip's facial hair is 2022's best investment for sure.
@ScrapPalletMan
2 жыл бұрын
I mustache you a question: if my squirreled away mattress money has less buying power, how long will this last and how should I store money?
@kaori1822
2 жыл бұрын
In a savings account that pays you an interest rate equal or higher than the average annual inflation percentage.
@wealthiness
2 жыл бұрын
crypto
@288theabe
2 жыл бұрын
Invest it in REITs
@feynstein1004
2 жыл бұрын
Index fund. It's a no-brainer
@markduran8135
2 жыл бұрын
Regardless of pandemic or not, inflation will always eat at the value of the dollar due to an ever growing economy. Best bets to prevent losing value would be to invest it in a safe investments with higher rates than inflation like index funds, stable stocks like apple that outperform the market, or even a bit riskier like cryptos like Bitcoin or ethereum which many use to hedge inflation. Still recommend having a good amount in savings just in case an emergency occurs, cause you’ll never know when you’ll need it!
@stachowi
2 жыл бұрын
Gee... printing 40% of all money into existince in a year won't do it?
@cocos8205
2 жыл бұрын
Phil looks 10 years younger without the 'stache, and I don't recognize him anymore
@feynstein1004
2 жыл бұрын
Lol right? He went from dad to hunk in 2 seconds
@kjw79
2 жыл бұрын
Mark Roper’s bro
@ziksy6460
2 жыл бұрын
In my country, we're only experiencing inflation of about 2%. But our currency hasn't strengthened against the USD. So basically, I barely feel inflation in my country, but when I go abroad, I would suddenly feel it.
@ziksy6460
2 жыл бұрын
@kiran Indonesia
@Andre-qo5ek
2 жыл бұрын
how often do wage increases match or exceed inflation rates for you? (i for one have never received a yearly wage increase that even matched inflation rates for the year)
@penultimateh766
2 жыл бұрын
@@Andre-qo5ek My raises have exceeded inflation every year of my adult life. How was your last performance evaluation?
@Andre-qo5ek
2 жыл бұрын
@@penultimateh766 that's great to hear your success. my performance evaluations are always excellent, bosses are just cheap it seems. to get "raises" i have always just found jobs that are willing to pay me wages closer to livable.(still not at livable). employers i am considering leaving never counter offer when i bring them my resignation considerations. this is why i always scoff at quotes from business owners that say "people now-a-days just don't put in the work ethic" ... my experience has always been that business owners don't want to share profits gained from our work. call them bad apple employers, that they don't represent the whole... but one bad apple can spoil the barrel. cherry picked good examples do not negate the instances of bad actors. unfortunately i do not know what a solution would be besides a philosophical moral and ethical paradigm shift of the business class to respect their employees.
@penultimateh766
2 жыл бұрын
@@Andre-qo5ek I have worked a number of places also, and the increases have held true. Maybe it's something with the type of job you are going for, or your way of asking for a raise.
@VishalSharma-rl1ko
2 жыл бұрын
You didn't raise the points about how US Fed has already printed about 2.5 more dollars since March 2020, which is the number one cause of inflation!
@jnayvann
2 жыл бұрын
But not the nearly $4 trillion dollar quantitative easing that was given to Wall Street in 2020?
@blargl121
2 жыл бұрын
No mustache makes you look at least 5 years younger, early 30s instead of late 30s. Crazy
@Tilmann5138
2 жыл бұрын
Really at least. I would even say like 10 years. 30 vs 40. Really shows what a weird thing a mustache is 😂
@BorgMusicalways
2 жыл бұрын
We are quick to blame OPEC and Russia for oil production but what about the forced reduction in domestic oil? As soon as the new administration came in, the conditions for oil production in the United States changed a lot and for the worse. This is an artificial barrier that can be lifted at any time but because of political reasons we are suffering.
@4hm3dhm
2 жыл бұрын
You forgot that the fed printed 90% of all dollars in circulation in just the last year.
@dustinabc
2 жыл бұрын
I think the 90% figure is off, but they did kind of miss the point of belt created fiat currencies flooding into the market. I heard its more like 40% since about April of 2020.
@clairbear1234
2 жыл бұрын
The idea that people asking for higher wages is hiking prices feels like BS to me when we know the rich are getting richer, aka, if they are still raking in profit, they could afford to pay higher wages without subsequently jacking up prices so high. They have been underpaying for over 10 years and it’s definitely not the fault of workers wanting a living wage.
@voxs2925
2 жыл бұрын
Businesses main and only goal is to make money. If they increase how much they give to the workers, they raise prices to make up for it. If workers want higher wages they should get more educated, shop around to different employers, and become more effective workers. Demanding that companies should pay people more than they have to because they can afford to is like demanding that Americans pay more for items because they can afford to.
@nadie8093
2 жыл бұрын
Walmart's profit margins are incredibly low. If they were to raise wages without hiking prices, they would go bankrupt super quickly.
@clairbear1234
2 жыл бұрын
@@nadie8093 I suppose it depends on the industry. I can understand that some places would have to raise prices to keep up, but other places are just pocketing the extra.
@Yandel21ableify
2 жыл бұрын
Greed is destroying America
@drip369
2 жыл бұрын
Simple answer: bad policies
@personontheinternet2164
2 жыл бұрын
But Muh CEOs and billionaires!
@XxKINGatLIFExX
2 жыл бұрын
Philip looks even more like Ryan Gosling now he sold his tash.
@ThatMidasTouch
2 жыл бұрын
It's uncanny to see Philip without his moustache.
@Doping1234
2 жыл бұрын
Inflation is like a tax on the poor.
@dustinabc
2 жыл бұрын
YES! it's actually a tax on everyone, but it's a regressive tax that hurts the poor the most. #InflationTax
@EdLemieux
2 жыл бұрын
I like the Austrian definition of inflation which is the correct or the old definition of inflation, a monetary phenomenon caused by government and banks creating more money. Therefore, devaluing the purchasing power of the currency. Kind of sad you guys never mentioned that almost 50% of all US dollars were created in the last 2 years.
@JustAnotherYoutubeHandle666
2 жыл бұрын
If you take 2 seconds to google that statement about 50% of all dollars printed you'll see that it's not totally true.
@KN-cool
2 жыл бұрын
I like Austrian style vaccine enforcement
@exantiuse497
2 жыл бұрын
"Kind of sad you guys never mentioned that almost 50% of all US dollars were created in the last 2 years." The reason they didn't say it is because it's a lie. The lie is based on the fact that M1 money supply increased by 13Tn in the first half of 2020. Doomsayers and other propagandists claim this was because of money printing, but it wasn't, it's because in March 2020 the Fed started to include money held in savings accounts in M1, instead of just physical cash and money on checking accounts like before. That's why M1 went up by more than 10Tn in one day in March 2020, because they changed definition of M1, not because they literally printed that much. They HAVE printed a lot, but it's in the vicinity of 5-10% compared to 2019, not 100% Tbh, to anyone with a functioning brain it should be self-evident that the government cannot print more than ten trillion dollars in one day, but I guess some people are just really gullible
@dustinabc
2 жыл бұрын
@@exantiuse497 who said anything about *printing* money? Who said anything about $10T in one day? I heard the figure is between 20-40% of the money created by the fed in its 110ish years of existence was in the last 21 months. So while 50% is an exaggeration it's not magnitude of orders off, much like how the dollar has lost magnitudes of order of value since the federal reserve was created. You might find interviews with Jeff Booth here on KZitem quite interesting as many of millions, including myself, have.
@exantiuse497
2 жыл бұрын
@@dustinabc People usually refer to the Fed creating money as "printing", even though it isn't physical printing anymore, so that's the term I used. The 10Tn figure referes to the M1 chart a lot of people use to scaremonger when it comes to inflation. In it the chart goes vertical in March 2020, which people claim was due to Fed creating money as part of the Trump administration stimulus effort, but as I said in my previous comment that isn't true
@fatihcengiz64
2 жыл бұрын
The look he always gives when he thinks she made a very good and valid point :D
@askrhonnie6356
2 жыл бұрын
The tumbleweeds were a nice touch. Lol.
@NappyWayz
2 жыл бұрын
3:40 - Question: Is CPI the real number of inflation? 6.8% I understand they continue to change the basket of goods and do not account for all items. For example, steak is replaced by ground beef or some other lesser meat. Yet, homes are not accounted for. I know that I am spending more money on rent, food, gas, and other items. In my personal world, inflation is over 20%.
@TheTurdballs420
2 жыл бұрын
Because Brandon keeps telling the Fed to print trillions of dollars. It’s not complicated. FJB!!! LETS GO BRANDON!!
@quixomega
2 жыл бұрын
Philip without a mustache was a real shock! I didn't realize he had a face behind that thing!
@dailybreaddaily7300
2 жыл бұрын
Relying on Russia and opec for oil is not a great alternative. Seems like a help Biden vid
@bling0rb007
2 жыл бұрын
As an entrepreneur and business owner, I would jack up my price for no apparent reason and pretend that it's because of the inflation and the covid. It's common for companies to do this and to only way to stop this is free market itself. If the competition lower prices, the rest will follow. Except the luxury items of course. Like example, iPhone claiming they're solving problems by not shipping the charger with the phone. But it turns out to be worse. And you're still paying the same price.
@BrooklynBaby100
2 жыл бұрын
How ethical of you.
@justahumanwithamask4089
2 жыл бұрын
Inflation has been sky high in my country. A sack of flour was 200 bucks now it's closer to 400 and it's still increasing.
@darkdudironaji
2 жыл бұрын
I am really hoping you're not referring to a USD when you say "bucks"
@justahumanwithamask4089
2 жыл бұрын
@@darkdudironaji No I'm not from the US
@darkdudironaji
2 жыл бұрын
@@justahumanwithamask4089 I understood that. But not knowing where you're from, I'm not sure what "bucks" means to you.
@Phoenixoverburn
2 жыл бұрын
That micky and miney reference is so GOLD 😆😆😆
@thomascharlton7325
2 жыл бұрын
I have always liked you guys because of your anti fear mongering approach. I have a concern with this video though. While you guys try and rationalize businesses raising prices to make up for lost business, you almost entirely ignore the real problem. Money creation by the Fed is totally responsible for the price increases. You briefly noted that “too much cash is chasing too few goods” but you didn’t spend enough time talking about the cash and focused too much on the too few goods. That’s misleading as the Fed and congress have injected money into the system at an alarming rate. Regardless of the pain we would have felt, if the fed didn’t print the money we wouldn’t be experiencing the inflation. They had to print the money to prevent the economy from disintegration, but those efforts are directly responsible for the inflation. Fed and Congress. Monetary and Fiscal authorities. They control the money and therefore they are solely responsible for the inflation. Period.
@dustinabc
2 жыл бұрын
Yep. One could understand inflation better by watching a #TuttleTwins cartoon on the subject than this video.
@Justingambaccini
2 жыл бұрын
I think you miss represented the impact monetary and fiscal policy play into this boom of inflation. M1 and M2 are through the roof.
@arshiff336
2 жыл бұрын
Right
@jacobdebernardi4385
2 жыл бұрын
I'm surprised you didn't mention the astronomical increase in the total money supply. That is one of the biggest contributors to inflation.
@ano070602
2 жыл бұрын
If demand is up, prices are up. If people stop buying things, then the price can not go up. Now I really think about what I am buying. Always uses a list and shop for sales and deals.
@voxs2925
2 жыл бұрын
THANK YOU THIS IS EXACTLY WHAT IM SAYING. Ive seen people in this comment section blame billionaires, corporations, etc. Consumers set the prices, unless something is government subsidized WE CONTROL THE PRICE
@samanthaaaz22
2 жыл бұрын
I am very thankful for 2 cents! Some more videos I'd like to see are ones about how to cope with high university costs, book costs, housing, healthcare, and car costs. I know you've already made videos on these, but making a few more videos about each topic could be a good idea. I'm transferring to university from a community college next week. At my community college, I saved money on books through buying through a Facebook group, renting free books from a club I was in, emailing the professors before the semester started asking if I could buy an older version, and then buying the older or newer version if they were cheaper through the Facebook group or Amazon. I've also recently found 2 different websites that has free eBook versions of some of the expensive textbooks, Other good video ideas could be complex investing terms explained simply, cryptocurrency videos, traveling videos, and career videos.
@anascoinquest1121
2 жыл бұрын
Legal in what sense? I doubt they’d do a legal video if it resembles anything close to or can ever be misinterpreted as legal advice.
@samanthaaaz22
2 жыл бұрын
@@anascoinquest1121 business & startup videos . Yeah, that wasn't a great suggestion. But i was also rlly tired lmao 🤣
@iluomobravo
2 жыл бұрын
Nothing funded by PBS will set you up for financial success. If you’re transferring to a cheaper community college and finding ways to make college cheaper (ie used books) you’re off to a good start! Look for scholarships and jobs that pay tuition (like Amazon, Starbucks and McDonald’s) and follow personal financial gurus like dave Ramsey.
@charlesg7926
2 жыл бұрын
The costs are high because JOE BIDEN is printing tons of money. When money is printed it reduces the value of the dollar… which naturally causes prices to rise. BIDEN is the problem, and I’m tired of pretending he’s not
@DunnDifferent
2 жыл бұрын
This video should be titled “1/3 the reasons why everything is more expensive” Let’s just forget about the exponential increase in money printing over the last two years. #Propaganda
@renmr
2 жыл бұрын
It’s just about supply and demand… of money! Too much money in the marketing and not too much products to buy. This is inflation. The prices getting higher are just a consequence.
@dustinabc
2 жыл бұрын
#InflationTax
@HusseinAmeen
2 жыл бұрын
Nooooooooo, anything but the moustache😭
@garretpritt4561
2 жыл бұрын
Omg he looks ten years younger 🤣🤣
@brajeshsingh2391
2 жыл бұрын
I was watching a program the other day and one of the participants made a very revealing statement. that central banks or rather govts,. want inflation to be high. For many reasons. the primary being reducing debt or deficit burden. inflate out the "debt". If inflation rises the nominal GDP rises and hence debt to GDP ratio falls and therefore centrals banks can literally inflate themselves out of debt as higher tax collection will automatically reduce deficit. Secondly rising inflation help central banks justify increasing interest rates which will reduce prices of govt. bonds and hence central banks bond buying program will be even more effective even if tapered down. Finally the earnings of companies will remain high and thus stock markets will remain somewhat insulated from rising interest rates. my 2 cents.
@dustinabc
2 жыл бұрын
#InflationTax is theft!
@SheetMetalPatternsOnline
2 жыл бұрын
I didn't hear you even mentioning one (the most important) reason could be the FED printing trillions of (free) Dollars, that dilutes its value. Thus, the same ammount of Dollars has less buying power, which equals inflation. All the reasons you mentioned are not that significant. Check countries with (long lasting) inflation like Venezuela, Turkey or Argentina and the main reason is lack of monetary policy, that is, printing currency without control. And since there are quite some extra trillions circullating, the inflation is not over yet, and will still be arround for quite some time.
@dustinabc
2 жыл бұрын
Suggestion- use the word CREATION not PRINTING, because the newly created currency is just typed into a computer then given to their friends in banks and other similar organizations. And the value in the newly created currency is STOLEN by devaluing each dollar that already existed. #InflationTax
@pineapplesoda
Жыл бұрын
Thanks for the O. Henry reference. I'm still giggling!
@Boahemaa
2 жыл бұрын
I weirdly miss a moustache I never cared about....
@Blue_Collar_Hunter
2 жыл бұрын
Let’s Go Brandon!!!
@nozem-dinglyboy-rebellion
2 жыл бұрын
Good video, but you didn't talk about the whole picture of inflation. It is true that there is price inflation and that that is caused by a lot of goverment assistance (tax refunds, stimulus and other fiscal policies). All that money that most people got now is chasing fewer goods. So you're right about price inflation. I'm only a little disappointed that you guys didn't explain why there are fewer goods, and that's because of the production in the US. A lot of the products that people buy are from other countries like China( electronics, clothing, commodities and surprisingly lots of food). So the overall production is very little (also caused by labor shortage). And with rates close to zero you stimulate spending, because people can now loan more money to buy things on top of all the fiscal benefits they already got. Conclusion, you only told the basics of inflation, but not what's actually happening in practice. I hope you do your homework better next time and answer my comment. Keep making videos!
@alyssaoneill3070
2 жыл бұрын
Idk what video you were watching, but that is all touched on in the video. A little harsh too
@marietvinken6400
2 жыл бұрын
@@alyssaoneill3070 They didn't say that it's the governments fault and they didn't talk about monetary inflation like printing too much and fucking up the dollar
@samaraisnt
Жыл бұрын
no video unless ten hours long and OMNISCIENT could cover every cause of inflation...and obviously people just mean "you didnt talk about my pet inflation cause i blame everything on" lollll
@joyjitterz3187
Жыл бұрын
I got the joke at the beginning 😂😂 Gift of the Magi short story.
@sergeishliapin9022
2 жыл бұрын
Now that's what I call "It didn't age well". Greetings from May 2022 xD
@selohcin
2 жыл бұрын
Given the complete lack of discussion of QE, there's no reason to give this video a like. It's a shameful lack of truth-telling. Quantitative Easing is the reason for inflation.
@tl9819
2 жыл бұрын
Lets go Brandon!
@AndreaMartinez-qu1be
2 жыл бұрын
LOL! Julia is wearing his mustache at the end! 😂
@jimalvarez5042
2 жыл бұрын
The price of the mustache maintenance went up 😫😫😫
@sethheaton9812
2 жыл бұрын
Love that Christmas story reference. 😉
@blackguyofthesouth2161
2 жыл бұрын
The Gift of the Magi👌
@ThirtyVirus
2 жыл бұрын
That Futurama reference was 👌
@Basomic
2 жыл бұрын
Wait, where?
@HughJass-jv2lt
2 жыл бұрын
Where?
@ThirtyVirus
2 жыл бұрын
@@Basomic 0:20 - 0:38, the scene in Futurama might also be a reference to something else but it's a scene in the Christmas episode
@blackguyofthesouth2161
2 жыл бұрын
That's not a Futurama reference, that's from The Gift of the Magi a short story by O. Henry
@KuruGDI
2 жыл бұрын
@Two Cents : 1:31 Why is this a map of Vienna (Austria, Europe)? 😂😂😂
@Jumboo364
2 жыл бұрын
I'd love to buy that stache on eBay but KFC just charged me $5.50 for French fries
@Ketiseb
2 жыл бұрын
Because they keep printing.
@eddiethompson1326
2 жыл бұрын
Really like the way you explain these topics in a easy to understand way, with sources, and data. INCREDIBLE content. please keep it up. When you mentioned the wage circle, does that lead to 'hyper-inflation'? What is the difference between regular inflation and hyper-inflation? What are the signs that we're entering hyper-inflation? Thank you!!
@aufadarmi
2 жыл бұрын
is that Tony Stark? oh that is un-moustache Phillip :)
@jadenyuki3138
2 жыл бұрын
0:26 I bought his mustache
@dunggg
2 жыл бұрын
So inflation is transitory and the Fed SHOULD NOT raise interest rate and keep rate at near zero and continue QE?
@julio8816
2 жыл бұрын
What about the vaccine mandates ? I saw a lot of people quit because of that 🤨
@EasternAmerica
2 жыл бұрын
Even when supply is restored, they won't lower prices
@SavageBunny1
2 жыл бұрын
Phillip looks like he's 19 without the stash lol
@deltaecho8968
2 жыл бұрын
While all this is really good content making us understand the macro economics, I'd really love u guys to tell us how really to accumulate wealth, where to cut corners, tricks and stuff. This would be really helpful for all of us just entering 20s!
@michaellavy3269
2 жыл бұрын
They’ve got lots of great videos on topics like cars, groceries, eating out, housing, etc. I’d start with those if you’re feeling lost.
@deltaecho8968
2 жыл бұрын
@@michaellavy3269 I've seen em all but something about making money would be a bit more helpful not Gary vee garage sale shit, something meaningful!
@Andre-qo5ek
2 жыл бұрын
@@deltaecho8968 thank you for calling out Gary Vee .... his content is trash.
@richyoung4051
2 жыл бұрын
-cook at home and DONT eat out -shop at cheap grocery stores like aldis or lidles etc -DO NOT buy brand new cars. buy certified pre owned ONLY -BUILD YOUR CREDIT. get a few credit cards and rack up small amounts on them every month to pay off. one card can be for food, another csn be for fuel for the month for your car etc. credit is king for financing anything. thr lower the interest rate the more you save -INVEST. do your reserach on investing. this channel has some of the easiest content to follow and learn about it. check it out. alot of this stuff is just commen sense. just live within your means and dont constantly buy shit you dont need. only if you realy can afford it go for it but be cautious
@hexmaniac
2 жыл бұрын
my best advice is to just have been born 30 years earlier
@Immacu1ate
2 жыл бұрын
Inflation is mostly due to printing excess money. Nothing more, nothing less.
@jerimiahstephens8580
2 жыл бұрын
Yep the democrats handed out more free money then it cost to maintain 2 wars. Great job guys
@Andre-qo5ek
2 жыл бұрын
@@jerimiahstephens8580 soooo you are saying we should get out of the wars we are in so we can support out citizens.... sounds like plan i could get behind. cut that DOD budget! while we are at it we could redistribute some law enforcement budgets into things that protect peoples lives too, you know instead of killing people and enforcing unjust laws.
@Striker50_
2 жыл бұрын
@@jerimiahstephens8580 Trumpet admin printed 4.5 Trillion at the end of 2019 alone. Stop playing the red/blue game, it's meant to divide you and won't get you anywhere
@fernandoglorenzo
2 жыл бұрын
I may have an unpopular opinion here but I actually like Philip without the mustache!
@FastBearChicago
2 жыл бұрын
Things I’m voting for: Phillip’s mustache returning.
@larrykramer2761
2 жыл бұрын
I'll be getting my annual raise in about a week...very interested to see if it's enough to keep up with inflation. I mean if it's not at least 7%, I'm basically getting a pay cut. We have ramped up hiring so I know we are doing well so there really are no excuses for a low raise.
@billmanhillman
2 жыл бұрын
This is NOT transitory! Look at history. How many times have you seen deflation vs inflation?
@AdamFente
2 жыл бұрын
You know it's getting bad when Philip can't afford to keep the mustache any longer!
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