Will Layoffs Soar? Economy In ‘Treacherous Waters’: Former Dept. Of Labor Chief Economist
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- เผยแพร่เมื่อ 22 ก.ค. 2024
- Betsey Stevenson, Professor of Public Policy and Economics at the University of Michigan, and the former Chief Economist at the U.S. Department of Labor, discusses the current state of the labor market in the U.S., and ways to combat inflation.
*This video was recorded on June 26, 2024
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0:00 - Intro
1:00 - Economy’s top issues
6:00 - Housing supply and inflation
9:20 - Rent control
11:24 - Consumer spending and home prices
14:10 - Inflation outlook
18:00 - Labor market overview
21:35 - Labour market polls
25:15 - Multiple job holders
30:30 - Which sectors grew the most?
34:21 - Demographics and labor tightness
42:18 - AI’s impact on labor force
53:59 - Paradox of declining female happiness
#economy #jobs #inflation
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How concerned are you about job security right now? Comment below and don't forget to subscribe!
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Keep bringing guests like this on David, I'll trim down my subs list. Typical liberal, said a whole lot of worthless nothing. Couldn't run a lemonade stand in Death Valley.
A brainwashed leftist professor. What else is new?
"Migrants went home for covid, and now they're returning"??? What is this lady smoking?
@@TheDavidLinReport This is the worst guest you've ever had on the show besides that Wolfe guy. And it's the only episode I've not been able to finish. This type of person is the reason we're so screwed today. So out of touch. If you have her on again, I'll definitely be skipping that episode.
@@geoffgjof I watch regardless of who is on as long as I get to watch the sexy host raawwwr
She absolutely omitted the influence of government borrowing, spending and its effect on inflation.
No she isn't omitting that. She's focusing on what matters in the measurements. I can know that I can float in a pool without knowing who filled it up with water. Inflation isn't just a monetary phenomena.
Correct. Unacceptable. Logging out of this crap. David: Quality over volume please
@@KK-pm7ud that is the dumbest analogy I have ever heard. Inflation is directly, and only related to monetary drivers (phenomena).
@@user-sv4fs5qw9b No it is not. It's only a monetary phenomena in theory. In practice there are many drivers. Parroting great economists will only get you so far in life.
@@user-sv4fs5qw9b nope inflation is also caused by supply issues.
I'd rather listen to someone who's a market participant than a partisan professor talking trash trying to keep the incumbent in power.
Yeah, this was painfully obvious.
I don't think any econmist really understands how rigged it all is regrdless of what party is in office. This shit show is 50 years in the making. Economist are taught the wrong stuff on purpose. So they can have this high degree to advise politicians... just like the Rich want them to do. It is really not that hard to figure out that these economist think they are correct when they are part of the damn problem in the first place. Debt based societies eventually die. They have too because you ever need more and more debt... at some point the debt levels get to high and the currency dies. It is that simple. I have never heard any economist talk about that. And that is exactly where we are at. How much longer can it go on. I have no idea maybe 1 year many 20... but I do know it is dying.
I concur! Toooo obvious.
Her liberal bias just completely glossed over how bad everything is with the economy. She said gig jobs are an opportunity, wtf?? Hard to believe she's a professor. Poor opportunity
Agree, very cringe statements disconnected from most peoples reality, scary to think politicians have people like these as advisors they listen too.....
Obama appointee tells it all. Done watching.
Same. Not going to watch. Tempted to unsubscribe all together.
I kept listening despite that....Later on she says that immigration talks about the southern boarder aren't helpful because that's not even where most of the undocumented immigrants come from. Good Greif Charlie Brown.
It's important to hear all views and make up your own opinion. You will need to be able of critical thinking tho.
She had some good points and many I really doubt or don't agree with.
@@justindyczewski6640sound kinda like your a triggered snowflake.
She's very competent. You're obtuse if you disregard a professional just because they served their country in one Administration or another.
So, she doesn't think 34 trillion dollars of debt is inflationary?
35 trillion now.
The debt itself isn't inflationary. It's the continuous growth of the money supply that is inflationary. Banks grow the money supply through fractional reserve banking more than government does. That's why high interest rates are needed to curb lending.
@@prolific1518True that banks create most of the money when they create loans (money is debt). But fractional reserve banking is a myth. In reality there is virtually no limit on the amount of debt banks can create. Their only limit is the demand for loans, which is where the interest rate comes into play.
@@prolific1518what you call money is debt. The dollar is not money, it’s a currency. The greater trick of all time was swapping money for debt instruments and making people ignorant about it. The dollar is literally a gold/silver derivative, originally it derives its value from the weight of PM it represented. From 1933 to 1971 the dollar remained stable at 35$ per ounce of gold. Since the Nixon shock the dollar is changed to be a central bank note, today we all know how much dollars you need to buy an ounce of gold. The thing is on its last leg, this is just how fiat currency works.
Her inflationary salary depends on the growing debt.
When someone says “we all need to do our part” actually mean “you all need to not me”
This comment says more about your thought process than everyone else's.
💯. Guaranteed she is not in any danger of her neighborhood being overrun with high density housing. Another hypocrite. This channel is starting to feel like propaganda with these guests.
Worthless
what do you mean?
and who are you? That's right, a negative nobody.
@@RPSartre01 with 66 thumbs up versus your 1 as at 6th july.
Agreed
@@takethat941 Thanks buddy
David, you're always great. She lost me though.
If I tell my Stats professor that according to my data we’ve either recorded a 400K gain or a 200K loss, he’d give me two things: an “F”, and a note “your data is shit” 😂
@David-Lin1623 imagine someone making life defining decisions based on such science, eh? :)
😂 She is as much a professor as the statistics manipulated by this government and the Federal Reserve. It feels like there isn't a single honest person in the US government or the Federal Reserve, only frauds and tricksters. I'm shocked when they openly admit to lying to everyone all the time, and their entire activity seems to be about instilling confidence in the naive American public, so they trust this financial system and the government.
thanks David. The avg. American is having a tough time, I know I am not alone. By statistics: 22% of Americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I grow my inheritance money that I have saved outside retirement account? my retirement goal is $3m.
Think about actions you’re taking that might be harming you such as carrying over credit card debt each month.
I agree with the reply above. I also think you should think about steps you can take to start. Start somewhere. Anything is better than being frozen even.
In my opinion, create a budget including income and expenses, do this with a financial advisor. I work with one and have generated over 150% ROI since early last year to date, summing up around $600k. I and my advisor are working on a 7figure ballpark goal.
150 % is actually impressive. who is this professional that was able to pull this off and how do I reach out please?
My CFA is Karen Lynne Chess, a renowned figure in her line of work with over two decades of experience. I recommend researching her further on the web, can't divulge much here.
Lost me at the jump when she said "Not a lot a president can do to control inflation..." REALLY? How about showing some fiscal restraint and using the VETO pen when congress is insane? How about not attacking energy? How about not regulating everything?
Sounds like you got it all figured out when I grow up I hope I can know everything like the key board warrior geniuses in the comment sections.
She's was very intelligent describing the subject. I think you're the one who doesn't know what they're talking about. There is much more to inflation than what a President decides.
@@KK-pm7ud The President’s budgetary proposals have a very definite effect on runaway government deficit spending and therefore play a major part in raising costs.
There are radical things you can do to eliminate inflation like cutting off most entitlements to generationally LAZY populations but democrats wuld use such a radical move to basically seize total power because the vote of these generationally lazy populations counts as much as yours. Besides servicing debt, entitlements make up much of govt spending. The military is only a trillion dollars. Entitlements are much more.
P.s. Biden has been the opposite of a green president. He's emptied the SPR to keep prices low while oil production is the most the US has ever had. Screaming about Biden's energy policies as a Republican just shows you only deal in talking points not facts.
Inflation was a direct result of the money supply
Inflation comes with equivalent market chance if you are early informed and well-equipped. I've seen folks on verified posts that turned millionaires amid economic downtrend, and pull it off easily in a favorable economy, it all boils down to proper asset allocation.
I'm still trying to strip every decision of emotion.. no doubt many successful investments are built on no more than an advisor's hunch
Right, a lot of folks downplay the role of advisors until burnt by their own emotions, no offense. I remember 3 years ago, just after my awful divorce, I needed a good boost to keep my business afloat, hence researched for advisors at once. Thankfully, I came across one with grit, helped to grow my reserve notwithstanding inflation, from $350k to nearly $1m as of today
@@EShepard- this is encouraging, a newbie like me would definitely need guide to achieve such financial milestone.. mind if I look up the professional aiding you please?
She goes by ‘’Katherine Nance Dietz’’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thank you for the lead. I just searched Katherine Nance Dietz by her full name and easily spotted her profile, no sweat. I have sent her an email, hoping she gets back to me soon
Why would the Fed cut rates with a tech bubble, a housing bubble, and a crypto bubble all raging violently? Clearly there's still plenty of liquidity in the system looking for a casino game to gamble on.
Well if you are rich yes... lots of money and increasing daily as all the assets inflate. That will not end well.
Well said.
Not the sharpest pencil in the bunch...
first, inflation is NOT 3%. the reason the REPORTED inflation is going lower without unemployment going up is because they keep changing how they calculate inflation.
Yup coffee was recently removed because it was "too volatile." Starbucks is reporting bad earnings because customers aren't buying anymore. The government is full on gaslighting into the November election.
Right.
Inflation is 8 to 10% and was 20 to 25% just a while ago.
Thats why prices have increased from 50 to 100%.
The attempt to inflate away debt with lies is going to end in disaster.
The US economy is a powerhouse with a diverse range of sectors. The stock market and the dollar have traditionally been safe havens due to their long-term growth and stability. However, potential downturns are part of the economic cycle, and laws are in place to manage defaults and asset seizures. Inflation can be a concern, but remember, certain assets like stocks and Crypto’s acts as a hedge. Long & short-term trading is generally safer, allowing investors to weather market volatility. I have managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Sandy Barclays , whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Sandy Barclays program is widely available online..
The truth is, with this recent economy everyone needs more than their salary to be financially stable. The best thing to do with your money is to invest it rightly because money left for savings always ends up used with no returns...
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience.
Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Sandy insights. It's akin to finding a diamond in a coal mine.
Starting early is simply the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, I am able to build a suitable life..
She says the law firm that becomes more efficient by adopting AI doesn't need to lay anybody off, but the only reason they became efficient was because they adopted AI and laid people off.
Right?! Classic government economist logic.
Very much so in this case. The major expense of service providers is labor so greater efficiency means less workers or more work taken from other firms. Without an additional assumption of an underserved market for legal services, one way or another greater efficiency must mean fewer workers.
Hiring low-wage immigrants to look after your kids (so-called helpers) while you go out and do more productive work assumes that you *have* more productive work to do. If you don't, you have to compete with low-wage immigrants for the same work.
Good point but there are diminishing returns to actual productive work. Since 2020 basically all job creation has gone to immigrants. People can cope but all the govts repeatedly "revised" numbers show this.
I’m skeptical that even these “productive” jobs are actually productive. High paid paper pushers aren’t making the economy a better place.
As someone who had to take up a second job or "side hustle" I can attest to the fact that it is because a typical full time job does not pay enough to get by in this day and age. It is not an opportunity so much as forced overtime to make ends meet. This lady is so disconnected.
See is on a salary not lower than $400,000 and quite possibly higher. I think that pretty much defines disconnected.
She dose alot of talking without saying anything. The problem is tax and spend like a drunken sailor/Democrat. You can't spend more than you take in unless you're a Democrat.
@@timlamont522 crazy how the trump tax cuts brought in even less money while the Trump admin budgets grew...
I’m not an economist but math ain’t mathing
The intelligentsia always think they know what’s best for all of us.
Wait, did she say that we didn’t see much inflation from 2015-2019? Maybe not in durable goods… Idk, it seems to me that housing prices, tuition prices, and medical costs rose quite a bit.
People are earning more in inflation adjusted terms? Who are these people? No one I know.
I find her analysis to be tone deaf and unengaging.
They don’t grow more apples. They grow more dollars. It’s cheaper and much easier
Lmao the unemployment surveys are no good, but the happiness surveys are much better. 😂
Sorry, I’m gonna go with the Milton Friedman definition of inflation. #MoneySuppy
It's an overly simplistic definition and doesn't describe the phenomena overall.
@@KK-pm7udit IS the definition. Sorry you have to use your brain to figure out the rest. It’s very simple, inflation is the increase in the supply of fiat. More fiat, much much more fiat, chasing roughly the same amount of goods = higher and higher prices.
@@cockyhemi-123 No it is not. The definition of inflation is the increase in the price of goods and services. That price increase, or decrease, can be the result of many things. Otherwise prices would decline every time the money supply declined.
@@KK-pm7ud you’re wrong. Now go get your shine-box.
@@cockyhemi-123and Kk you both are correct, higher money supply and goods price hike by corporation both lead to to inflation, price hike is a direct method while Higher money supply is an indirect method
Where do you find these people??!!
The Marxist funny farm.
That's a bad analogy that elderly want to sell their large house for a smaller one and it will cost them more because of interest rates. Most of these folks should have no mortgage on their existing house and will be paying cash.
The housing supply issue is due to uncontrolled immigration - both USA and Canada just letting people in without any preconditions.
Here in Germany the same. Same problem and same cause.
It isn't just immigration. It's also tax policy among many other issues.
The housing supply issue has multiple factors. First policies and zoning laws play a role and home builders have constricted fewer homes than needed.
@@danielhady3021 100%. We need a law that says that every neighborhood needs at least 1 apartment complex.
@@danielhady3021 Well, you seem to think it's all a supply issue. I think artificial demand is a major factor.
i dont agree with much of what was said as its avoiding the over spending of fiscal policy spending but i'll listen as you can't avoid the fact that many people think like this.
The inflation she describes is fewer goods but I believe the problem is more dollars.
Where she is correct is that there is a dearth of housing inventory available.
The federal government is a large source of inflation but the primary source comes from the past 15 years of building loans where 9x more dollars are created for every $1 in existence which was brought to a froth by ZIRP.
She isn't saying it's fewer goods. It's a little more nuanced than that.
Bingo people seem to not understand banks create inflation through money supply growth using fractional reserve banking. The fractional reserve banking is able to function because of low interest rates.
Utter bollocks in the first minute. "... what a president does, does not have a ton of control over inflation". That is the biggest load of crap I've heard today.
Presidents control fractional reserve banking?
The US President has a huge impact on productivity which has a huge impact on prices. Ding Dong...
also a huge impact on who gets bailouts
and who has to pay for it.
Exactly, drill baby drill. Biden attack on oil is catalyst to inflation.
Oh. So the President can force people to take the jobs nobody wants? Like cleaning bathrooms and picking fruit?
It's easy to spot which commentators failed civic class. Explain your position buddy
@@mth469 another example of a civic class failure
Fxck unemployment, need to get inflation right down, if it means some unemployment so be it.._
Nope, 3% is never better than 2% inflation. She needs to check herself.
LMAO. You're hilarious.
@@KK-pm7udThanks!
Inflation is 10%
Does this gal ever stop talking?
Like most women.
She's a professor, what do you think
Lil bro wants the interviewee to stop being interviewed...
another empty blabber mouth like most women
WTF? Did you just want her to sit there and not talk. Everyone talks on this show, a lot, that's the point old man.
You may not like what she's saying but she was brought here to talk and talk as much as possible.
For a professor, she is shockingly deficient in eloquence.
What is she talking about? The FED does what the government wants them to do ultimately. It’s up to the government to ensure the budget is balanced so the central bank doesn’t have to inflate.
Exactly!
The problem with increasing density is it doesn't reduce the property tax rate but increases it. You end up paying more while living in an area with increased congestion.
Wild assumption to make that property taxes would go up. What you notice in cities that deal with urban flight is an increase in property taxes to combat the fact that less people are paying but services still have to cover the same amount of area.
@@prolific1518 It works both ways.
She says we are getting a soft landing, defined as inflation down with unemployment staying below 4%. Unemployment was 4% last reading and 4.1% the day this aired.
13:20 all fed can do is to dampen demand, but a society can grow supply to bring down inflation
Political parties do affect inflation. Gasoline prices? Government spending? Hello?
She conveniently forgets to mention that a primary reason for housing inflation is that the Feb monetized government debt by buying MBSs.
The Feb intentionally (and illegally) allocated capital to a specific sector on a massive scale, so the inflation was planned.
Housing inflation was made policy because officials prefer to sink the dollars somewhere that disproportionately affected people who did not own real estate. Those people are also less politically connected and less likely to vote.
How was it illegal? It's the government.
@@KK-pm7udjust because the federal reserve is a government institution doesn’t mean that it legally has unlimited power. There are only specific things included in their mandate.
@@kimferzoco6755 You didn't answer how it was illegal.
@@KK-pm7ud
I can take out the “illegal” comment because I do not spend my time endlessly researching sources for this stuff (I do have a life), but it is my understanding that 1) the Fed is not supposed to specifically target a specific industry to inflate prices, and 2) they’re not supposed to create dollars out of thin air in order to fund government debt.
No, I am not entirely against the federal reserve, but I do blame their bad decisions for creating many of the problems in this country since the 2000 bubble. Let’s just say that my confidence and trust was lost long ago.
Not responding after this because you seem like a probable troll.
@@KK-pm7udMy understanding is that the Fed is not supposed to specifically target an industry to inflate prices and they’re not supposed to create money out of thin air to support government spending. I can remove the “illegal” comment because I don’t have sources on hand to list here, but yes, based on my understanding, I think they have over stepped their mandate.
And no, I’m not necessarily against the entire existence of the Fed, but their bad policies played a huge role in the ‘90s tech bubble and bust, housing bubble and bust, and COVID inflation.
_Former Dept. Of Labor Chief Economist?_
Signing all of those gigantic spending bills during and after the pandemic doesn't impact inflation?
Exactly.
We have a completely open border and the millions upon millions need housing so we need to “do our part” by turning single family neighborhoods into high rises and shelters. How about no. And if this is forced upon us then I’d like to see her neighborhood go first. I live in nyc and am witnessing the drastic change. It’s unsustainable and she’s a fool.
Why are the 99% working class citizens often the most ignored group of population in government policies from the so-called rich countries?
Capitalism is designed to benefit the capitalists not the labor, capitalism 101. Don't start talking about worker's rights getting all commie now.
Word onslaught, im exhausted after 9 minutes 😂
that was a whole lotta nothing burger
One of the things she ignores is that not everyone gets raises every year. So there’s plenty of people who lose purchasing power every year because inflation eats away at their salaries.
i got a 25% wage not increase no stable but down , cut this year from $600 month to 400$
Wish you would press her point about not needing higher unemployment by referencing u7. Unemployment has NOT been blow 5% as far back as that series goes.
Time to cut government staff since the SCOTUS Chevron deference ruling gives them less to do..
Are the people in government going to throw on tool belts? Would you trust a house built by politicians to stand up over time?
Please don't get her back David.
She isn't exactly defining inflation properly. Yes, consumers begin to bid prices up but they can afford to bid up prices bc the Fed/Govt have pumped way more liquidity into the system than is needed. So, inflation is ultimately and always caused by monetary policy creating too much stimulus.
She treat us as primary school kids, people want more apples , so there is inflation? 😂
people want apple, let's give everyone $10, so they can all buy apple.
and now when everyone runs out of that $10 giveaway, she is saying, let's lower interest rate so people can borrow to keep buying apple. Otherwise the apple price will fall and farmers will go out of business. fml
@@geoffreymak000 I know, right?! What a quack labor economist.
This lady has a wild take. I had to quit watching. It's our responsibility to soften this housing market. No tf it's not. She is a socialist at heart. I don't want closer neighbors and neither does anyone else . Please don't have her on again David 😂
Once she said that she was an economist in the Obama administration, everything she said made sense. I laughed at her statement that most immigrants don’t come over the southern border.
She ignored the fact that high immigration increases housing inflation.
There is a real shortage of lower and mid level workers . Shortage of good, mechanics, plumbers, electricians, carpenters, roofers, fast food workers, warehouse workers, medical staff and even doctors . I know the financial wizards look down on this class of workers but they hold the foundation of our civilization in place.
🥩STACK🥩STEAKS🥩BUY🐄BURGERS🐄
David, I love your show. However, I believe your guest is completely out of touch with reality concerning why we Americans are having to work multiple jobs. The simple truth of the matter is that we are struggling to make ends meet. Keep up the good work! I really love the information your platform provides and I applaud your professionalism. Thank you!
"Build more housing". Ok so build more housing that the extreme amount of money floating in the system can continue to gobble up and still not decrease housing prices. The only solution is to reduce the money supply...
Yeow, bet she has purple hair on the weekends. Wish DL would have pushed back on some of her statements. Couldn't watch much of it.
Nimby arguments are basically: they dont want the value of their houses to decrease and the town/city doesnt have enough resources.
Who wants to pay less money for things I need to buy... Not me. Now excuse me while I go back to clipping coupons.
Its sounds like this person is speaking trying to defend the economic policies by the current political party in charge. She comes off as disconnected from the real struggles of normal people. The covid relief money she mentioned has already been spent up, how much does she think that people received to retire and not work anymore?
Housing went up because the fed lowered the interest to zero for a long time. This women got the right job working for the government.
Workers will lose their job even if there is deflation. Thus let deflation happen. Business must experience the "pain" of the recession and not just workers. It's the fairness issue.
Have you studied economic history?
@@KK-pm7ud they have been following the "text books" and it hasn't made things any better. The recession happens and the books not only can't avoid it, but it often gets worse. Put the books back on the shelf and let things deflate. It at least drops prices/costs.
@@kiyoshitakeda452 So you haven't studied economic history but believe you know more than those that do.
When I heard her bona fides as professor at Uni Michigan, and I thought of Justin Woofer, who is also a professor there, it concerned me that I was about to hear nonsense disconnected from reality. What I heard was nonsense disconnected from reality. I was not disappointed.
I couldn't finish this video. Much better to read a book like "broken money" then listen to all this nonsense.
Many grocery stores in the US have installed self check out kiosk machines after Covid. One of the reasons the self ordering grocery App didn't succeed is the higher cost of food than if you shop in person. It also required a minimum purchase of x amount of money. On top of that, customers also had to pay for a yearly subscription to the service and pay the delivery person a tip as well.
Well, now I know who not to listen to for any economic advice or analysis lol
We didn't cause inflation. The govt spending does. We could all make more and spend more if the govt ran a balanced budget. That's the truth
The beginning of this conversation sounds like keeping a status quo.
These are our future politicians folks. These are who are also currently running our country. She doesn't care inflation is affecting the poor when she's not poor anyways.
Imagine dinner date...then pie in her face..
That warm comfort feeling is nil.
President doesn't have control of inflation? Try cutting back on spending.
And stop reducing supply.
Control and influence as different things
Greedflation has played a huge role in the post-Covid business cycle.
Government statisticians 😂
Chick is off her rocker! 😂
28:57
My wife does haircuts and babysitting because we can't make ends meet. We make just under 80k. Rent is 1950
Great interview David. It's important to consider different views. Even those with which you disagree.
The Fed is not solely responsible for inflation. Congress plays a huge role. This is an oversimplified discussion.
Biden should hire her and fine tune Bidenomics and you’ll see the economy fly
This is shocking misunderstanding of inflation causes and effects. She has a fancy resume and a mediocre mind.
Does 4% unemployment rate only count the number of unemployed currently collecting unemployment insurance which only last 6 months?
I think this lady have zero idea about economy and following advice from public servant MMT "economists" like this is dangerous. First of all, Australian per-capita recession is purely caused by 2 factors: 1) unprecedented out of control immigration growth of 5% population which created now nearly 100% shelter cost inflation in 2 years under new prime minister. 2) energy, fuel and insurance prices jumped nearly double here due to bad political policy.
If you want to know the facts about Australian economy go and listen to Leith Van Onselen the Australian economist, not some lazy tax payer funded hack job
She does make some good points, less regulations, no rent control but is painting with broad strokes on the big issues.
No, she's wrong. Inflation starts when govt spends money and hands out more money funded by debt which devalues the dollar. The covid supply chain imbalance was just temporary until supply caught up. The actual inflation rate of over 20% over the past four years is permanent until debt is paid down and dollar restored via deflation
There is only one option to housing shortages, build more? Basic economics say that aside from increasing supply you can also decrease demand, which the guest doesn’t speak about. A large scale deportation of illegal aliens would help reduce demand for rental units. A lot.
🪙STACK🪙SILVER🪙GATHER🪙GOLD🪙
She says things only an intellectual ACADEMIC would say... "deflation creates more problems than it solves". so people are concerned to always pay higher prices for ALL things??
I am on the Jeff Booth camp, deflation is good in the long run, ALWAYS and by nature all new technology is deflationary. In a stable monetary system all thing tend to be deflationary. So it is not that deflation is bad, but that the gov can devalue the value of the money, so it seems deflation is OK for them, but not for the working people??
about the house situation. I don't think old people staying in 4 bedroom homes are the issue. Most old people probably have finished their 30 years. So they can literally sell their 4 bedroom house and buy a small 1 bedroom condo all in cash and have a lot leftover cash from the 4 bedroom house for their retirement expenses. I think it's more so the old generations are taught to invest in real estate and live off of rents. I think there is a statistics that most boomers own several rental houses. As housing supply goes down, they naturally have the power to raise rent since younger people cannot buy house. It starts this vicious cycle of old landlords getting richer from high rent and buying more houses and renting them out for even higher rent. Continues to shrink housing supply. As soon as they build more house to increase supply, it will be bought up by a rich boomer. Only way to fix it is to wait for the boomers to pass on unfortunately. I have literally met a boomer landlord who is renting out 20 houses already and telling me that he need 10 more to retire comfortably... Boomers are the largest and the wealthiest generation. Resources will be locked up until they pass on and release all those resources.
This wasn't it, David.
I could live with 3% inflation. It is the sticky high prices that we have inherited from free money.
What is so fascinating to me is that in all of these experts on various sites, I have yet to hear any of them, sans Ed Dowd, talking about the elephant in the room. That elephant is the "safe and effective" that 3/4 of the planet were coerced into taking and now, we're seeing 5K deaths a day and 2.5K debilitating injuries per day. This 7.5K per day in the US are NOT coming back into the labor force. About 2.5MM people per year and the death and injury is just getting started as it will get much, much worse.
Looking forward to the big brain that brings this to light.
She is a dope we’re currently in a recession!!!
It is important to reconsider the role of real estate as an investment. We should aim for minimal increases in property value. Additionally, if someone intends to use their own home as a rental property, we must carefully consider their intentions and possibly prevent such actions. Allowing homeowners to prioritize profit over the well-being of the community could lead to serious issues. Instead, the focus should shift from greed to fair and equitable practices. For instance, if a homeowner has fully paid off their mortgage, any rental income from the property should not exceed the equivalent of the homeowner's original housing costs.
Soon as she said. Administrations do not cause inflation.
Yep she is a politician, not economist David.
So inflation is caused by supply/demand out of balance? Does currency debasement bear any responsibility? We have inflation because the government wants to be able to deficit spend without raising taxes. Inflation actually took off in the early 70’s
Government housing like the 40s. Make private compete with public.