Great interview. I've listened to many interviews with Jeff Booth but your thoughtful questions flushed out more information from him as well as challenged his ideas. Very thoughtful.
Thanks to Jeff and Damien. Indeed, the technology driven deflation is around everybody and I didn't pay enough attention to it. Here are the shortcuts to the talks. 0:15 who is Jeff Booth? 02:00 why did Jeff write the book? 03:10 what is the context for this book? 08:10 deflation definition and its winner and loser 10:50 in which situation a wage earner would be better off than an asset owner? 13:10 trying to stop technological deflation by creating inflation is creating wealth concentration. 18:55 will increasing amount of services, particularly western economies, slow down the effect from technology? 24:30 the central banks’ role in fighting the deflation 26:50 has the solar technology crossed the point? 34:45 where is the cross point for other industries? 38:45 who will have the pricing power in the driverless car situation? 49:00 what value does AI technology capture within that healthcare sector? 57:50 John M. Keynes is really smart. But he made a mistake. 1:04:53 every country should try to win the digital super highway. 1:11:07 in a deflation world, how can a worker to be better off if he doesn’t have any assets? 1:16:35 Q&A
55:30 If yesterday activity of 'moving couch' valued at $20 and today it is $10, and he still wants you to move 2 couches simply because he still has $20 to spend, is it marvelous? It means you just doubled your revenue. Because really, he should've just spent $10 if he just needed to move one couch. While on the other hand, you just got $20 that you can spend on anything else today, which costs also half compared to yesterday. In other words, your purchasing power just doubled today. Because he asked you to move 2 couches. And it gets even better if you just save the money you earned today, because if the deflation continues at the same rate, you can buy 4 times more tomorrow, of whatever you want to buy.
A lot of things have been getting cheaper and cheaper to make that the price never goes up because they want a bigger slice of the prophet to hand out to the shareholders. I don't remember the last time I saw a reduction in the price of something even though it cost them less than less to make
Great interview. I've listened to many interviews with Jeff Booth but your thoughtful questions flushed out more information from him as well as challenged his ideas. Very thoughtful.
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Fantastic, very interesting discussion and observations.
Thanks to Jeff and Damien. Indeed, the technology driven deflation is around everybody and I didn't pay enough attention to it.
Here are the shortcuts to the talks.
0:15 who is Jeff Booth?
02:00 why did Jeff write the book?
03:10 what is the context for this book?
08:10 deflation definition and its winner and loser
10:50 in which situation a wage earner would be better off than an asset owner?
13:10 trying to stop technological deflation by creating inflation is creating wealth concentration.
18:55 will increasing amount of services, particularly western economies, slow down the effect from technology?
24:30 the central banks’ role in fighting the deflation
26:50 has the solar technology crossed the point?
34:45 where is the cross point for other industries?
38:45 who will have the pricing power in the driverless car situation?
49:00 what value does AI technology capture within that healthcare sector?
57:50 John M. Keynes is really smart. But he made a mistake.
1:04:53 every country should try to win the digital super highway.
1:11:07 in a deflation world, how can a worker to be better off if he doesn’t have any assets?
1:16:35 Q&A
The interviewer is totally out of his depth. Jeff Booth is on another level and speaks of the future inevitability.
55:30 If yesterday activity of 'moving couch' valued at $20 and today it is $10, and he still wants you to move 2 couches simply because he still has $20 to spend, is it marvelous? It means you just doubled your revenue. Because really, he should've just spent $10 if he just needed to move one couch. While on the other hand, you just got $20 that you can spend on anything else today, which costs also half compared to yesterday. In other words, your purchasing power just doubled today. Because he asked you to move 2 couches.
And it gets even better if you just save the money you earned today, because if the deflation continues at the same rate, you can buy 4 times more tomorrow, of whatever you want to buy.
BOOM. Interviewer mind blown. LMAO
Mind blown
A lot of things have been getting cheaper and cheaper to make that the price never goes up because they want a bigger slice of the prophet to hand out to the shareholders. I don't remember the last time I saw a reduction in the price of something even though it cost them less than less to make
did you waych the video?.. things get cheaper - but they inflate in price because of the central planners at the gvnt/fed printing money