Shapiro Breaks Down the Causes of Inflation
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The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?
She goes by ‘vivian jean wilhelm’’ 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! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.
It’s interesting how critics of Shapiro claim he’s only cognitively capable of debating college students, not experts. Yet he just personally explained the current crisis in layman’s terms & in greater detail than any mainstream media outlet by far.
Also, wouldn't that mean the "experts" and the students agree ,and are just as dumb?
@@Jason-cn5vo lmaooo you really believe Ben Shapiro can debate an expert in their own field? 🤣
I hate that position as it is the same empty position people who argue Greta can't be argued with take.
I understand the fundamental position: If you were to as Ben Shapiro walk into an undergraduate class presentation and start attacking the student as they are in the process of learning to make good arguments and pulling them apart you are a giant jackass. A large body of research shows you can't learn well from people too far ahead of you from something akin to the dunning kruger effect, you need to be able to understand where you are lacking to learn from it. If the other person is too far ahead you can't really extrapolate points of improvement that are useful to you.
Yet when an egocentric such undergrad wades into a pool far too deep for them, trying to debate Shapiro, the lesson in humility is precisely what they need to learn.
To use my example, Greta being young doesn't make her unassailable, she waded into the adult pool and declared herself worthy so is worth of fully criticism there of. Her age stopped being a defense once she waded into that pool.
I lost a friend over this position, and I stand beside it.
I have never seen anyone win a debate against Ben. Most run away when he offers to debate him like AOC did.
@@davidr2299 I’m sure an expert in their own field has more knowledge of their own field than Ben. That’s not a controversial statement. No shit.
I’m sure a professional Diver knows more about marine life than Ben. That’s not at all a slight against Ben.
But Ben can hold his own in a debate with the overwhelmingly majority of people when it comes to speaking about American history, politics, Israel and other subjects that he has studied. There’s a wealth of evidence of him being head & shoulders more articulate & convincing than the politicians, professors, speakers, authors & other supposed “experts” that he debates.
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Retaining a portion of your holdings in gold is often a prudent choice. It might be advantageous to temporarily steer clear of equities, or alternatively, it could be even wiser to consult with an expert considering the current market conditions and the various risks associated with the present economy.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst
@@MarkFreeman-xi3rk Could you possibly recommend a CFA you've consulted with???
My CFA is ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé
Shorter version: We print money like Monopoly, you get screwed.
For anyone looking for an unskewed laymens explanation without the biased agenda shapiro has to push to make money off his idiot fanbase:
th-cam.com/video/QZvMIbZ86Ag/w-d-xo.html
Bingo- and first oned to get the monopoly money win (Ponzi pyramid scheme), the other suckers pay for it.
I’m laughing my head off because I’m really trying to imagine Biden or Kamala explaining inflation like this and I actually can’t
Them ding bats couldn’t explain 2+2=4... they’d just change the answer to what served them best and then argue that anyone who doesn’t agree with them or sides with the logic (answer =2) is racist/prejudice/sexist/terrorist because they have no other argument. They’re insane and people just fall for it with their mouths open.
@@blakeknapp1633 What ben says has been debunked but hey keep preaching nonsense
It doesnt make me laugh anymore. One is a fart in the wind, wishy washy old man who just wants a quiet life by now, I’m sure, and the other a Wal-Mart manager. Lots of words but completely void of any actual substance. The cherry on top is her cackling when she runs out of empty words. It isnt funny anymore. Its pathetic.
I have no idea.
-kamala Harris
@@stuffythriftwood4612 i haven’t been to Europe either. Thats her answer for everything.
My portfolio has good companies, however it has been stalling this year. With the present inflation and dollar devaluation I just got my money out of the bank, I invested some in gold and silver and I’ve approximately $700k stagnant in my reserve that needs growth, any suggestions to grow my portfolio will be highly appreciated.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems
My advisor is Helene Claire Johnson , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
increased losses for portfolios this quarter are predicted by market drops, skyrocketing inflation, a major interest rate hike by the Fed, andI rising treasury rates. How can I profit from the volatile market right now? I'm still considering whether to sell my million dollar bond and stock account.
after studying the trajectory of great assets like real estate dividend paying stocks and gold, my conclusion is to buy and invest in what you can afford today! working with a financial advisor can certainly help
Agreed, instead of panic or following a hearsay, I simply adopted the service of an advisor early 2020 amid covid-outbreak, and so far, I've attained my most measurable financial milestone of $650k after subsequent investments.
nice! once you hit a big milestone, the next comes easier.. who is your advisr please, if you dont mind me asking?
I take guidance from a California-based wealth advisor 'Nicole Desiree Simon you're most likely going to find her basic info on the internet, she's firmly established and well qualified.
curiously inputted her full name on my computer and searched online, found her site ranked top, very professional.. thanks for putting this out, it has rekindled the fire to my goal
This is the first explanation I've heard that doesn't point to the cause being "Orange Man" -- great! :D
Ben Shapiro clone th-cam.com/video/jgI59flIe8A/w-d-xo.html
Although, The previous administration also is to blame for what 10 months worth of this?
Well, most of the explanations I’ve been hearing is Brandon Bad. He is a shit president, but just suggesting that Biden is the sole cause of inflation is intellectually dishonest.
Only idiots who can’t think blame Trump for things they can’t even think about.
Our leaders are old dinosaurs who don't know how to manage anything.
Whether or not you agree with Ben on everything he says
I gotta say, he definitely has the voice and confidence to be a teacher
The guy is full of shit half the time but I agree
@@__vasiliy__ What specifically are you thinking of when you say that?
@@MegaLokopo Im not sure what hes refering to but the only thing i disagree with shapiro is that he is for covid vaccines. I get it, he is against mandates, but he still says to get the covid vaccine. (Yes I know he says dont get it if you dont want to).
I do wonder what he will say in the future when the truth about the vaccines comes out.
ALSO.... If Shapiro really wanted to help people with inflation, he should be telling people to buy physical gold, not gold from his sponsored company, but I get it
@@amishgamer9780 What are you refering to about the truth about the vaccines? Lab leak? How ineffective it is?
@@amishgamer9780 That’s betting on your opinion that vaccines are actually bad though.
I feel sad that even though I am investing, I don't have the brain power to dig through how each company is doing, is this a good time to buy stocks or not, my reserve of $450K is laying waste to inflation and I don't know what to do at this point tbh, I need solid data on market trajectory
I'll suggest you find a mentor or someone with experience to guide you especially in this recession.
@@stellaadams593 I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
@@gowonjake I've been thinking of going that route, been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think you inv-coach could guide me with portfolio-restructuring
@@annabells7473 Sure, the inv-coach that guides me is CLAUDIA TRINIDAD RIVAS, she popular and has quite a following, so it shouldn't be a hassle to find her, just search her
Part of the market is purely risk-based. You cannot know whether it's a good time to invest or not. If that information was available, the market would convert it into wealth immediately.
Success is dependent on the actions or steps you take to achieve it. Show me a man who doesn't have an investment, and i will tell you how soon he will go broke. Investment is building a safe heaven for the future. With the right choice of Investment that has at least 1% minimum risk and with an expert guidance, profit and Intrest is 100% guaranteed.
I agree with you. I had a senior colleague at work who was living well but never had an Investment, unfortunately his work was terminated,so he went from living well to surviving with his family.If he had invested when he was still working, he would have had another source of income.
Investing is a prior decision to make for the future. If you are seeing this and don't have an investment, please do make plans to invest so you don't end up like my senior colleague at work.
This made so much sense, just like he said " for one to invest, the person have to consider an appropriate choice of Investment with at least one percent minimum risk , profits margin, a mentor and expertise to guide and help you manage your Investment portfolio.
With the help of Angelina Morris who works with an Investment organisation in England, I have been investing in the Foreign exchange market, Stock, and dividends with her expertise and guidance,she has helped me make huge profit on my Investment portfolio.
@@halasultan6439 Oh its great to see someone who also benefit's from the services of Angelina Morris indeed it's a small world. She is my portfolio manager and mentor too for 2 years and still counting and I have made profit of 123,795 usd from my initial amount of 5100 usd with her managing my portfolio.
EU is falling into the same trap though Ben. I can speak for the Netherlands that inflation is at almost 8%. Government is planning to spend like mad and meanwhile, natural gas prices and fuel are skyrocketing because we're dependent on Russia (Stupidly enough) and refuse to use our own resources. Supply chain issues are ongoing here as well, shutting down car plants and making (electric) components up to 20 times more expensive.
It's because it's all a part of the same plan. "free will, that's over with" th-cam.com/video/6G3nWyoQ5CQ/w-d-xo.html
Yeah welcome to the club.... we have in Czech republic 11% inflation as of January and it will rise....
Glad Idont have children, they would suffer...
th-cam.com/video/J4q0F6a9AYI/w-d-xo.html Trump was right ✅
Props to whoever drew that world map
Not in France, inflation is at 3.2%
I trust Ben to explain inflation, because his wife is a doctor.
And because he’s a jew.
And because his wife knows all about inflation
I trust Ben because he tucks in his shirt.
@@coleyamos Yes! He is a proper gentleman.
@@npalmi88 Ben Shapiro clone th-cam.com/video/jgI59flIe8A/w-d-xo.html
Whoever drew that map of the Earth has serious talent. It almost pained me to see Ben just wipe it off.
Also, in a way its like what the banks did with the bad mortgages. They used to have a rule that all of their loans had to be backed up by a certain percentage in money from savings. And then they started to fidget with that number. Maybe we can lower it. The sky did not fall down. Maybe we can lower it some more. Still no sky falling down. And down and down it went until they had almost nothing covering it. Along comes a hickup, BOOM! Financial system collapse! In the same way the governments kept printing more and more money. Each time the sky does not fall down as the economy is booming and masking their money printing. Along comes a hickup in the form of covid and BOOM! Hello mega inflation! Each time smart people do stupid things because they think they found a way to magically game the system and create free money.
By the way, if you want to know more about the famous hyperinflation of the Weimar Republic, check TIK's series on it. Ben should interview this guy.
th-cam.com/video/YygQ0Wq0wDA/w-d-xo.html
th-cam.com/video/pwJf8O1S6eA/w-d-xo.html
th-cam.com/video/cFBGvK5jX6Q/w-d-xo.html
They probably projected it onto the screen and traced it.
Haha yeah.. except New Zealand…
They forgot the Black Sea and the Caspian
I can draw a decently accurate map by memory, but damn that one is nice, there’s no way it wasn’t traced
@@Brendon_yup nz got done dirty
Interesting , the stock market is currently experiencing a decline while bond yields are on the rise. However, there seems to be skepticism amongst investors regarding the Federal Reserve's plan to continue increasing interest rates until inflation is stabilized. As for myself, I find myself at a crossroads, uncertain whether to liquidate my $250,000 stock portfolio. I'm seeking advice on the best strategy to capitalize on this current bear market.
That moment when you understand inflation but you still watch the video because you enjoy Ben Shapiro explaining it.
For anyone looking for an unskewed laymens explanation without the biased agenda shapiro has to push to make money off his idiot fanbase:
th-cam.com/video/QZvMIbZ86Ag/w-d-xo.html
it reminds me of Fran Drescher from the Nanny.
In 2019 and 2020 I viewed joe biden as a racist, opportunist, corrupt, possibly senile politician and I hated him. But I'm still surprised at HOW BAD things are with joe biden as the president.
"Don't underestimate Joe's ability to fuck things up." -- Some previous US president. 😉
Foreigner here.
I knew of Biden because he became famous in the UK for stealing the speech of one of our politicians - Neil Kinnock. Neil wasn't any minor politician - he was in the running for prime minister, and leader of the first/second political party in the UK.
Since then, I've seen Biden being a patronizing ass to Thomas Sowell in a senate hearing. Everyone else recognized that they were in the presence of greatness, but Biden, arrogant SOB that he is, seemed to think it was appropriate to talk down to Sowell.
I've also seen him use the death of his son to leverage a sympathy vote, which I find unconscionable and stomach-churning.
I don't have a dog in the fight, and I don't really care to much about which US party gets into power.
But from where I stand, you are right. Biden is a racist, and an extremely unpleasant individual.
Interesting, I had very low standards for Joe but I actually think he isnt doing as bad as I thought he would
@@cb4354 You have a lot of 'splaining' to do
We can see Pelosi's and Karmala's lips moving as ge dpeaks. Come on, man.
Milton Friedman famously said, “Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”
correct. also, rising prices are NOT inflation. they are a product of inflation. As the great Milton Friedman said, inflation is created in one place only, Washington DC. Inflation is simply the devaluation of currency through over supply. Each succeeding dollar past the market need devalues the value of all other dollars. Eventually, every fiat currency goes to zero value UNLESS that currency is kept in equilibrium with actual production of goods and services. Now, the supply chain can cause prices to rise due to supply shortages, but that is NOT inflation. It is rising prices. This is why the CPI definition of inflation is a fallacy. Rising prices may represent inflation, but also other triggers. But inflation always devalues the currency requiring more dollars for any unit of production or service.
@@CB-vt3mx In my dictionary inflation is higher prices! They can be determined by printing money, the velocity of the monetary mass, or shortages in supply! I was always under the impression it comes from the verb to inflate!
@@CB-vt3mx You guys are way above me in terms of economic literacy. Lol I understand most of what you guys are saying, but I'm a real dummy when it comes to this.
I hope to change that. This seems like important stuff to understand.
@@AdamCorley316 It really isn't. Most economists are full of shit, Friedman certainly was for the most part.
@@AdamCorley316 it's OK we are not in charge of spending. These people are destroying the world economy while they can get away with it.
As a senior economics student, this is accurate. I approve 👍🏼
What free sources are available to learn economics? Thanks
@@ep330 the only thing I’ve used to learn about economics outside of my university is coursera, which worked well for me as supplementary material. I highly recommend these courses, although I believe some of them cost money.
If you’re interested in macro topics that are currently developing, I enjoy listening to Wall Street journal podcasts on Spotify. They usually give a good run down of current events and how leading economists think it will affect the economy. For this, you may need a bit of basic knowledge about macroeconomics before you can really understand some of it.
Overall the best way to get in depth learning about economics is through a university in my opinion. See what scholarships and financial aid you can get, or if the company you currently work for will give you any reimbursement.
Hope this helps.
Agreed… recent finance graduate.
@@omara3389 Got any good advice for finance? tips or books or free sources online? Thanks
u shouldnt be an student
The fed printed $16 trillion dollars and dumped it into the economy. Prior to that we had $4 trillion in circulation. The stock market is margined in the amount of 880 billion dollars. That means roughly a trillion dollars of stock is leveraged. This also creates high overvalued stock prices hence the recent decline. This is only the beginning. We are in for a rough ride.
We're in for starvation, but I trust my god.
Explain this To me, please.
@@lewisburton1852 which part?
@@richstewart9904 “the stock market is margined in the amount of 880 billion dollars. That means roughly a trillion dollars of stock is leveraged.”
@@lewisburton1852 Hedge funds are essentially borrowing to trade. 880 billion is borrowed money, margin, a line of credit.
Inflation is a fairly simple thing to explain.
It starts with money. Money is a commodity in of itself, a proxy representation of the objects you can buy with it. Printing too much money devaules it same as making a million copies of what is supposed to be a one-of-a-kind item.
Not according to aoc.
@@johnrobi0 Ben Shapiro clone th-cam.com/video/jgI59flIe8A/w-d-xo.html
Did you just explain inflation in the comment section of a video that explains inflation? Fucking epic
When the amount of paper money in circulation does not balance the amount of actual goods and services, inflation happens.
None of this inflation has anything to do with money supply. There is simply a shortage of everything from raw materials straight through to finished products.
Many companies last year were struggling to find staff at times and had to lower output due to human resources.
More or less the economies of most countries have turned off their production systems and now everybody is paying for it.
Go out and try to find many materials and tools and you will struggle. They are simply not there. And when businesses do get their hands on them they have to sell them at a higher price just to try and make up for the loss of inventory.
The whole entire world economy is infected by this.
Damn, that was a great shareable summary Ben. Love the daily show and the daily wire in general. So glad to see you guys grow!
Ben is always wise about economy. I remembered when Trump was launching Trade War, Ben worried about inflation and talked about how tariff war is never good on the show.
When the Trade War concept was introduced to China, the atmosphere was basically quite grim. Chinese internet was full of "the future of this generation is ruined" and stuff, and it turned out to be a reasonable worrying since the export industry did get a big hit. But nowadays the Chinese people and the mainstream media in China seem to have a different mindset, they are thinking about de-coupling.
See, the federation gov can give free money to US citizens because Dollar really rules the current world economy. I live in Dalian, northern China. I have a close friend who is from Buffalo here, she recieved thousands and thousands of free money from both Trump and Biden (I even got to see the signitures), and do u know how many things that merely 2k dollars can buy in Dalian? It was not fair, man(u should see the face of her Chinese workmates)!
People in China begun to realize that the Chinese labour force has endured too many long hours, too low incomes, too high output and too high pollution, so that they can contribute to the world supply chain, which made the Dollar super strong. They are not pleased with the current arrangement anymore. The Chinese gov is talking about inner circulation, the Chinese people are disliking foreign capitals, I mean if u do investment nowadays, it is super grim, super grim. Now the wars are comming, when the de-coupling really happens, guess what's better? Stock or Gold?
We need to prepare for the winter, no matter u are a US citizen, Chinese citizen or a European. This is happenning.
“Create crises - make the people believe that a word crisis exists and that the only solution is more government programs. It is not important whether or not a crisis actually exists, it is only important that people believe it to be so” Saul Alinsky
For anyone looking for an unskewed laymens explanation without the biased agenda shapiro has to push to make money off his idiot fanbase:
th-cam.com/video/QZvMIbZ86Ag/w-d-xo.html
And just like that ben Shapiro explained inflation so well and didn't need to blame trump to do it
i mean Trump did spend half of that overspending in 2020... its both administrations faults, but supply chains definitely outweigh the effects of both Admins.
I was just saying today that I was kinda confused on the concept of inflation so this video came at the PERFECT time. Thank you, Ben!!
LMAOOOOOO .... if you think this right wing wacko, Den, knows anything about inflation or presented much factual, then you are not very smart. When idiot Ben said the deficit went by 7 trillion from 2020 to 2021, he lied himself out of the water. No such thing even remotely came close to happening. Furthermore when he talks about the FED printing money, he neglects to mention that other world central banks are printing even more money than the FED is. If Ben was in a college level economics and business class he would get a grade in the range of D-F for his mickey mouse and hald arse explanation of inflation.
signed,
The Economics Professor.
Thanks Ben. I hope more and more people see and watch this.
Should also discuss the adjustments made to how we measure inflation. By historical standards inflation is actually much worse that reported.
:) Thanks, 'Joe Dirt.' Good point.
Especially when energy and groceries aren't figured into the equation
Yup, Hedonics.
What a great explanation of a very intricately complicated problem! I'm sending this to my friend that home schools her children. This will really help her explain this more clearly to her older children. Nice job, Ben!
Sometimes I think damn I wish I was healthy enough to go back to college. Then I remember that If I was in school I probably would have been brainwashed into thinking this was trumps fault.
Is it brainwashing to understand half of the overspending since Covid was in 2020? under the Trump administration. I think its brainwashing to think either admin is solely at fault. But what do i know, im just a brainwashed independent with a degree in economics
All this in just over a year? Bloody hell I’m impressed that someone could fck up so bad
Remember when you brokies in your dying towns were running to Wal-Mart with your stimulus checks? Printing a trillion or so has consequences.
The Gov didn’t print anything to send stimulus checks. Stimulus checks were people’s own tax money given back to them. You expose yourself and your ignorance. 👍
@@cormacthem8406 t what is the stat on people who pay no income tax? 48% so half of those people getting stimulus money weren't getting their own taxes back, they were gettgin somebody else's taxes back
Love this new style of series!
Could you do a part 2 on what you'd do if you could control the system in order to get federal debt to zero and decrease inflation? Obviously federal debt is to decrease spending and start making debt payments, but how would you go about this? In terms of decreasing inflation, if the debt went to 0 tomorrow and inflation disappeared, how would we get the price of cheeseburgers back to $.10 since the value of money would be so much higher?
First of all, you don’t want to get rid of inflation entirely, the target inflation rate is 2%. This is going to be achieved via collective effort between fiscal policy and the fed, keeping interest rates low while increasing supply, while mitigating the negative effects of government spending to do so. It’s a bit of a circus act.
@@yoloswagnemite5416 So that's a great history lesson, but back to the question; how would you reverse inflation? Let's say hyper inflation takes over and the economy goes out of control, are you going to nuke the country? If not, how would you put the genie back in the bottle per say (this is a big brain question)?
Like paying back debt is obviously the answer to part 1 of this, get your federal deficit to zero. Build federal revenue generators (like Japan's rail infrastructure). But if the deficit goes to 0 tomorrow, how would you bring the country's free market back in line (since America isn't communist or under a despot). One way would be using a rent control system but for commodities and goods (to an extent); but how would you do this on goods that have added benefits and services?
Like if you federally mandate to bring eggs down to $.12 a dozen, but the person creating egg whites wants to charge $75 for a pint (again, dude to the previously mentioned hyper inflation). Coffee beans at .05 for a 16oz bag but coffee grounds at $175 per can and $275 a 12oz cup at WaWa and $455 at Starbucks? Actually, now thinking about it, I guess if you 'commodity controlled' to bring the price of commodities and some goods down to pre-inflation prices, the other goods and services would have no recourse but to fall back in line with the rate that the market would be willing to pay.
I guess I answered my own question...
Perfect explanation. Whoever drew the Earth map though needs a raise.
For anyone looking for an unskewed laymens explanation without the biased agenda shapiro has to push to make money off his idiot fanbase:
th-cam.com/video/QZvMIbZ86Ag/w-d-xo.html
Was very interesting to see him take such a deep focus on the automotive industry, while watching this on my break in automotive factory in the UK.
Im curious- what UK automotive considering it was all gutted by Labor and theur militant unions along with mining, shipbuilding, steel, dockyards. 1945-1955 London still the largest docks on the planet only to mysteriously transported to tulip faeries in Rotterdam.
Austin-MG- Rover, Jaguar, Rolls, Bentley, Bristol, Reliant, MG, Morris, Wolsesly, TVR, Armstrong, Austin, Austin-Healey, Triumph, Dennis, Bedford, Leyland, Armstrong-Siddely, Scammel, Commer, Alvis, Enfield, BSA, Manulectric (milk floats), Riley,.
Humber, Longbridge, Crewe, Solihull, Coventry all industrislly pillaged. Pressed Steel Company that did from Alvis to Vauxhall's including Rolls Bentley, Jag, Rover, Jensen etc. Gone.
@@markiobook8639 I work in an automotive manufacturing plant. We built parts for companies like Ford, Jaguar Landrover, Nissan and a few others. But we don't assemble the cars them selves.
Really enjoy your podcasts but I love this format of video. Going in depth explaining with visual representation. Do some more stuff like this please!
Milton Friedman would be so disappointed to see what’s happening in this
Country
Hey Ben, business school graduate here. I'd also add to this as well, consumer spending. The more people spend, the more money flows, the more demand and money is being spent, the more goods will be saught after thus, driving demand, businesses make more, so they raise wages.
The issue is inflation is outpacing people's wages, people's savings (mortgage rates have been falling because of this issue, no one can afford a home anymore, no job will satisfy the income requirement, I barely afforded my first house recently). At some point deflation will occur when demand hits that wall, that wall no one knows. Consumer spending is a huge part of it, added to your points it's a recipe for inflation.
The war in Ukraine will cause economic stagnation across the globe if we really do continue to shut Russia down, again, the majority of Russian goods aren't used here in the USA, it's other places that rely on them and we rely on other countries, like China and Taiwan for semiconductors (fun fact a majority of China, Taiwan, India, and other countries import metals for semiconductors from Ukraine, it's a big export of Ukraine). We could see economic stagnation in the end if the war worsens or continues.
Ecnomic stagtion + inflation + falling employment = hyperinflation
We have to end the war Ben, otherwise, one thing leads to another, before we know it everyone will be paying for the war, literally.
Interesting. What sources do you recommend to learn more about business, economics?
@@ep330 investopedia is a great place to learn about economics and business, it’s mainly stock oriented but stocks rely on bonds/businesses and bonds/business rely on economics. Macro and Micro are the two branches of economics, micro involves individuals while Marco focuses on the larger scale inflation or unemployment etc and the cause and effects are.
Yeah, the last part about growing interest payments on national debt is worrying (to say nothing of paying down the principle!). One would hope western nations start cutting entitlements, but I think we know higher taxes is the answer we will be given.
Roth all the way.
Stagflation it is then.
Interest payments on the national debt only matter when rates are rising and the debt is not held by the FED. The FED remits all interest payments minus their own costs back to the treasury. Interest rates only effect little people not the government. That's why the FED buying all the debt is not just an "emergency measure" it's actually the primary measure.
@@TheUrbanGaze with the recent Russian aggressions the military budget is likely to go up, not down. Even European countries are starting to realize they need to invest more on their military.
@@TheUrbanGaze You can't compare military spending dollar to dollar between different countries, you have to take purchasing power parity into account. Countries like China pay their soldiers WAY less than the US, so they get a lot more from their money. The US also includes stuff like healthcare expenses and coast guard expenses on their budget, which China doesn't. If you look at military buildup then China has already surpassed the US, despite spending less.
Yes it sucks to spend so much money on the military, but the alternative is to just give up the world hegemony and have a world that is a lot more chaotic. See what's happening now in Ukraine? That will be the norm all over the world if you let countries like China and Russia become the world hegemons. And I don't want to go back to the 19th century where it was more common for countries to wage wars of expansion against one another.
And maybe you don't think such a world is a problem to the US, and it doesn't matter if other countries get conquered so long as the US is safe and isolated, but you have to realize that nowadays the world is interconnected and you lifestyle depends greatly on global supply lines. If China takes Taiwan you'll get a shortage of semiconductors in the US, making electronics a lot more expensive. War in Ukraine is making grain products and oil a lot more expensive. Eventually China and Russia will be the ones placing crippling economic sanctions on the US if you just self isolate and let them take over.
Thank you for this video, so many people really need to sit down and open their eyes to the severity of the economy right now.
I hate to be a pessimist but I said early on that if Biden were to become president, this country would get to the point of no return. I don't think anybody can undo the damage ... especially if Biden is in for another 3 years. It will most likely get to a point where we follow in the footsteps of the roman empire and aren't defeated, but fall from our own actions and arrogance.
No they don’t because he’s wrong. The first two things he listed are completely irrelevant to the topic at hand, and do not cause inflation
@@programking655 Inflation is caused by a decrease in aggregate supply and/or increase in aggregate demand. More specifically, it's when the increase in aggregate demand outpaces the increase in aggregate supply.
Supply chain issues lower aggregate supply. Overspending and low lending increase aggregate demand. This is quite literally what inflation is.
@@FamilyMelton I disagree. We need to move away from the U.S. dollar though. For example, if we could incorporate crypto currency into our tax system, we would devalue the dollar. Then our government could buy back dollars and remove them from circulation. That would in turn boost the value of the dollar and increase its spending power.
The problem isn't that we're past a point of no return (I don't think that point exists). The problem is that our country is filled with morons who don't understand basic economic theory.
That's why citizens need to vote blue. Even the timeline reflects how Republican administrations always cause inflation and it takes democratic administrations to lower inflation.
Love this style of video. It's amazing! Thanks Benny Boo 😍
"I think I have a better idea to fight inflation. Lower your costs, not your wages." - Brandon
You will own nothing and you will be happy
Please explain higher wages thru lower costs...
For anyone looking for an unskewed laymens explanation without the biased agenda shapiro has to push to make money off his idiot fanbase:
th-cam.com/video/QZvMIbZ86Ag/w-d-xo.html
Stagflation is the obvious outcome. Ben is spot on.
I love videos like this. For me, being a visual learner, this is the best way for me to learn and understand things.
There is no such thing as a visual learner
@@kirathekillernote2173 sure I'll go ahead and believe you since that's what you said.
@@1odd9ball Kira is actually right
th-cam.com/video/rhgwIhB58PA/w-d-xo.html
@@1odd9ball watch veritasium’s video on types of learning. He debunks the visual learning theory
I know my beliefs and what I stand for. However, I am naïve when it comes to specific aspects such as inflation. I would love more layman's term examples like this from Ben! 😎
Really appreciate these explanations, Ben. Thank you to you and daily wire for putting these on.
I know this video is about Inflation and by far the best description of what factors are involved. But within the video I heard Ben say that Taiwan currently produces 92% of semiconductors, and "ironically" China is encroaching on Taiwan similarly to what Russia has done to Ukraine....
This has been an issue since Biden took office. China has become far more bold. The world knows once they get Taiwan, they have the worlds technological balls in a vice.
China takes Taiwan and "The West" is FiretrUCKED. Western economies live and die on Semiconductors.
I love the way you explain how the inflation works! Huge fan of yours! But out of all curiosity, did someone actually draw the entire map of the world on the whiteboard by hand??
No, he got someone from Fivrr or similar Payr-a-slave to do it, probably as an A0 size plot (kinkos will print it). It's not a massive job, just find a Mercator projection (should be tonnes of free, Creative Commons svg's) scale up to A0 and done. Print at Kinko's or similar. Rub the backside lines with bkack whiteboard Sharpie.Tape to whiteboard, trace over lines w light whiteboard Sharpie- baddabing, baddaboom you got the best map in the room. $5 bucks on Fivr, naybe 10 bucks at Kinko or similar.
Comment section: “I’d like to see Biden explain this”
Inflation Explanation”it can be contributed to closing business and giving away pandemic money”.
Trumps policies all 2020 from March until his dismissal.
🤣🤣🤣🤣
Dude was pressured
You do realize that Biden did most of the same and to a greater degree for the whole of 2021, right? No one is denying Trump played a role, but Biden has taken this to a degree that vastly outpaces Trump, with at least three different multi trillion dollar spending proposals - two of which have gone through. He also took a chainsaw to the domestic oil industry by vastly raising prices on permits and leasing, discouraging banks from giving loans to oil companies, banning fracking, and raising the gasoline tax massively.
@@afgone Biden did it to a greater degree, yet he did it for 3 months less and eventually open businesses back up 4 months into his presidency. See how you have to kid to feel good about the political party rep? I don’t, because it’s all rhetoric bro.
Great video I love the way you simply broke it down. Please do more of these stories. The Graff helps me understand it better. Thanks Ben.
Whatever you think of Ben, the attention to detail in the sets. Man he gets it. I’m not a conservative but I consume his content just to get another perspective.
Ben, your explanation in layman's terms is easy to understand and shareable. Learn something as usual Thanks
Ben, I'm an owner operator in the trucking industry. Inflation is only going to get worse, trucking rates have not yet caught up to inflation rates or fuel prices. Essentially trucking rates are exactly what they were 1 year ago while every cost associated with Trucking has gone up. It's only a matter of time before trucking rates become double what they were last year
Awesome video! Very informative. Could you do a sequel to this video to explain the economic stagnation and what that would like and what it means for us all? Thanks Ben!
Yes! This!
Ben writing on the whiteboard is kind of reminding me of Glenn Beck. Anyways, always informative.
Bruce looks just like my boss, who also just so happens to be named Bruce
@@ry-man4354 Ben Shapiro clone th-cam.com/video/jgI59flIe8A/w-d-xo.html
Replace "covid" with "the government" and this becomes more accurate.
These are great. Thanks Ben. Love them.
Thank you Ben for this valuable and thorough evaluation. It's refreshing to see you explain a situation without name calling or callous blaming.
Within the first 30sec he literally says "let's go Brandon". Surely you didn't skip over that part since it was the main basis of your post.
@@chriscoleman5238 I didn't skip over it. Ben is referring to a fictional character named "Bruce" which is a representation of a larger audience of people that may not understand inflation and therefore exclaim that remark. I have seen Ben resort to name calling, callous blaming and even mocking in some of his other posts. It was refreshing to see that absent in this post.
@@challengingconventionalwis5667 oh I got that part, I was just saying that he did indeed reference "Let's go Brandon". Not a huge fan of his but his explanation is very understandable.
Correction, the inflation in Europe is also as high, Thanks to the extensive fiscal policy of the EZB. One third of the Euro has been created in the last two years.
This is correct.
Yes & it's all planned to be. th-cam.com/video/6G3nWyoQ5CQ/w-d-xo.html JP 's vid he talked about Klaus Schwab & the real plan of the new world order
Firstly, I love what you do. Keep it up, I fully support it!
Secondly, I heard the idea going on in 2020 of getting rid of the FED. As it was helpful when it was initially created, many factors have changed. What do you think of the idea and the pros and cons it would bring us?
Getting rid of the FED does nothing really as anything else that is in place will just get used politically.
They let the biggest banks basically make money.... I don't think the dollar will survive this
My degree is Finance, I worked in the industry for years and also work in logistics. Excellent breakdown and explanation.
We should say that Europe is also dealing with high inflation. Same thing in Latin America, naming Chile which used to have a good control over inflation.
There are many qualifying factors that make me trust Ben on this issue
I don’t get it
Ben is the type of guy who can plainly explain how inflation happens as well as how to properly inflate a bike’s tire 👍🏼
pretty sure Shapiro has minimal manual labour skills. Takes it to bike shop before Sabbat, fixed by Monday.
When Shapiro turns around at 6:37 to start plugging Birch Gold, his smile is hilarious. So pleased with himself
Love this style of video, thanks Ben!
"Too many dollars chasing too few goods" is the short explanation of inflation. All these causes Ben mentioned helped lead to that.
That statement can be misconstrued though.
@@omara3389 How so?
@@nonmagicmike723 supply chain issues can cause price increases nonetheless the value of the currency is not effected by this directly. Hence, that statement is too broad a definition as it can be interpreted as a supply chain issue being the cause rather than economic policy.
@@omara3389 Yeah, but what does a supply-chain issue do? It restricts the supply of goods; hence, the same amount of dollars will be chasing less stuff, causing inflation. It still comes down to the amount of dollars circulating vs. the amount of stuff it can buy.
@@nonmagicmike723 true
Perfectly explained ,to get a better understanding on why this is happening,and gives me a clear understanding on the next steps that soitety could take or should take ,or what they are planning to do with this mess of a procedure!
There is no plan to fix it. They keep kicking the can down the road. Governments from local, state and federal levels need to cut drastically the spending, taxes need raised and fiduciary responsibility needs to be embedded in the fabric of society. But none of that will happen. The national debt has never gone down. It's a one way train
If a good explanation is what you want, you came to the wrong place
My experience through my life has been that every single time governments discover" quantitative easing or printing money always ends up with inflation
Sliding in the sponsored add in a clever, seamless manner = Classic Ben
Well done Ben. It remains to be seen how high the FED raises interest rates and how quickly the FED balance sheet is reduced. The FED is in a self inflicted box. Do they keep equities inflated to keep WalL St. happy or save the middle & lower class? I am betting the the former.
i recently shifted my investments in something way more stable thanks to alot of videos I have watch from you. I fell for the clickbaits psedo financial advisers that the algorithm send my way and while it didn't make me lose money, it definitely hurt my gains. I wish this part of youtube or any other social media was more regulated. Anyways cheers.
What did you shift to? I have gotten sucked in too by others.
Looking at the chart right now too many macro trends affecting all markets right now how profitable is cryptocurrency investment? because it seems making gains henceforth is farfetched?
@@viviangall1786 its pretty farfetched for hodlers only... I leverage on the volatility of the market for significant returns rather than holding and loosing value to the volatility of the market I made my first mill from going diverse, mainly stocks, ETFs, few Cryptocurrencies and bonds. It’s a long term plan for me so I invest and re-invest. building wealth involves developing good investment habit and understanding.
@@chris-pj7rk You really inspire me, I'm looking at building a good and stable position with crypto and stock and get it diversified just like what you're doing. please can you give info on how i can go about it. thanks
@@viviangall1786 the government/FED/big banks is throwing everything but the kitchen sink at crypto to squeeze out conventional investors like you and me. Once the government loses the battle with the rest of the world, crypto prices will skyrocket.
That graph in the back is 🔥🔥🔥
These gas prices are seriously breaking my damn heart
Is everyone enjoying Biden fuel prices?😂
My truck gets 8mpg, so this is great…
I thought I had it bad at 14mpg....
My company pays my gas☝️
@@efrainamezcua7594 Ben Shapiro clone th-cam.com/video/jgI59flIe8A/w-d-xo.html
my car gets 35mpg but im still pissed. My gas bill has doubled and will probably triple here pretty soon.
@Austin Madore most Democrats are living off government aid
I’m not a big fan of Ben Shapiro (the voice…), but also, I just wanted to say I appreciate that this was an ad, because it made me actually see it, and this is information I needed. Appreciate it!
Please do more whiteboards!!!!! Love this!!!!
It is not inflation, it is just greediness in economic terms. Inflation sounds acceptable than greediness to people's ears.
There is only one cause for inflation: An increase in the money supply.
Yup. The term inflation literaly refers to an "inflation" of the money supply
The purchasing power is ruined by over printing paper slips.
@@lilturban2094 no inflation simply refers to prices and purchasing power
@@ingramation1 Caused by an oversupply of $$$!!
As a young guy in his 20s, can someone explain the significance of government debt with regards to its sustainability? I often hear younger generations will have to "pay" for it, but what does that exactly entail? Future higher taxation? Cut off from social security benefits? The future is so scary man
He explained in the last pert. Stagnated economy. We’ll be living through the hardest periods which caused by Biden’s failures now.
I do not mean to waffle too much but let me try.
While it is true that they will have to pay it back at some point economic growth tends to lower the impact of that debt.
But the real damage it does economically is that it retards economic growth. When an economy should be getting 10% growth it instead is getting 1.5% growth. So it means there are not as many jobs out there for people but more importantly it restricts opportunities.
America is still the best market economy in the world but is still impacted by short term thinking.
So if governments just for 5 year were to stop printing, borrowing and over regulating the economy they would get 10 to 15 years of spectacular growth. That is what happened in the 1950s and 1960s.
after ww2 the ulk had a similar amount of debt as the US right now and we had to pay the intrest on the debt so for every £100 of tax money raised we had to spend £10-15 on debt intrest.The point of the governemnt is to provide a system to live in and compared to the taxes people pay the government they get 10-15 percent less money spent on schools, welfare, military etc so the people get less out the system for what they pay in taxes. After the 2008 crisis we had "austerity cuts" which ment no increase in school spending to meet the increase in number of kids in school so the budget per pupil went down. Situations like these can be seen in many sectors of the government spending so the result is a less quality of life for people overall and with the increase in debt these payments will only increase this makes the other problems worse and keeps the cycle going.
Basically what happened in 9/11 is happening again. I was in my 20's and even though I had a solid trade, there was hardly any work. Times were hard. Those times are back!! Enjoy!
This guy breaks down government debt really well in a nonpartisan way. It’s a really informative video
th-cam.com/video/EPjrFjAxwlw/w-d-xo.html
Please do more visual videos like this! Very helpful!
Idk why but 6:35-6:39 had me laughing my ass off! I think it's the look he gives the camera
According to Milton Friedman, it takes 12 to 18 months for the inflation to hit, after the economy has been inflated by the government and the public stars spending. We haven't seen the peak yet, I'm sure it will go to double digits by the end of next year...😔
Bro we already have. Look into how this figure is calculated compared to previous formulas.
I also think it hasn’t peaked.
Thank you Ben for your honest & concise analysis of why we're currently in such a financial debacle.
Let's Go Brandon!!!
what would Republicans have done¿
@@convinceme6960 IT was under a Republican that all the covid spending started. This is a larger problem of just too much cheap and free money. We Americans are not really as rich as we think, this is all fake credit.
Ben I love these explanation vids, keep em coming!!!
I'm an 18 year old girl with a full beard. A few minutes ago I was a 26 year old man but I changed that. Lost my job because of discrimination. They kept telling me to get off my phone and work but how am I supposed to use TikTok if I'm working? Then they fired me when I refused. They said it's disobedience and not performing my required duties. But I know it's because I'm trans. So I called CNN to tell them and CNN is telling my part of the story. Got everyone fired for being a bigot and firing me for refusing to do my jo... Bring trans. Ttyl gotta go tell everyone on TikTok how oppressed I am. Also I stand with Ukraine! I bet all the Ukrainians sleeping in abdonded subways sure feel safer knowing a Zer/zop/zlop/his/her/nugget is standing with them from the safety of their own home paid for by my former employer.
P.s I voted for Joe Biden 7 times in 4 different states. Anyone that says it was an poorly excuted voting cycle is a science denier. Also I have gotten the vax 3 times and every booster 3 times and I triple mask. Plus I've had COVID, I didn't know it until one of my usual morning test came up positive. Ugh it was terrible I had to stay home for 2 weeks and play games. I even almost got a fever once... so yes you could say it got pretty bad.
👍way to clear a room!
Nice troll. You are clearly the master baiter
Along the lines of supply chain, the price of diesel is a huge factor. Diesel has more than doubled since the election. The price to manufacture and transport goods to the consumer has skyrocketed because of this. It is one thing to drive a hybrid or a Tesla to work but those can’t do the heavy commercial work that puts products on the shelves.
What about the tesla semi?
Even Elon says we need more oil supply
@@Someguy6571 great I’ll take 100,000 of them. When can I expect delivery ? Probably 5-10 years out for a significant quantity to be produced. Renewables are the long term future but they aren’t enough to produce the energy we need now or in the near future.
@@peten6691 Just wanted to let you know I wasn't trying to be sarcastic with you. I agree electric vehicles are a future thing, and even then will not replace petroleum powered vehicles. Even in the future.
Really enjoying these “Ben explains/Ben breaks down” videos. So informative and easy to follow. Please keep them coming. :)
One point that would have illustrated the danger in banks receiving massive amounts of cash from the fed is fractional reserve lending, but then this would have been much longer than 12 minutes.
Ben’s ability to segway into ads is unmatched
Everything reeks inflation in the economy... I don't know who, however a person desires to pay attention to this, you have to stop replying on the government and saving all of your money. Venture into making an investment a few in case you actually want monetary freedom
@Oliviaemma That is the exact reason I advised both new and old investor to trade with a professional who understand the market quite well, that way maximum profit is guaranteed & I myself traded with expert Chris Pulver and I always worry less about losing because he has so many years of experience
As I said earlier, I trade with Chris Pulver a professional broker of an investment firm, who guides in building and diversifying my investments. Currently I have compounded over 60k net worth portfolio. I know there are a whole lot of professionals traders out there but I'm gladly I chose to work with him, hence the good returns.
*You can easily contact him on what's app 👇👇*
꧁༺༻꧂十𝟭𝟴𝟬𝟯𝟴𝟳𝟱𝟬𝟬𝟭𝟴 ꧁༺༻꧂
*And also call📞 or a text message 👆*
I actually got into a fist fight with a moron in jail once trying to explain inflation. No matter how much logic I gave him he kept saying "but money is money". Yeah, but the value of the money is decreasing... I eventually just punched him. 👊 🤣🤷♂️
Lol just give him the simplest possible example like say if the country only had one computer how valuable is the computer? Pretty valuable right? What if every person then got given 40 computers each in the country? Now how valuable is that computer at the beginning? Not too valuable anymore, same things with money
@@JOBXR He would have still said "but money is money". The guards were like "did he owe you money or something"? I said "no, the idiot can't comprehend inflation". To be honest, I don't think the guards comprehend inflation either. 😂
And I still dont forgive you🤕
@@ry-man4354 😂🤣😂
Good information, this is coming from someone that knows stuff about inflation and economics. On a final note to combat inflation the main way is to raise interest rates which need to be above the inflation percentage. You can check past recession to confirm that
Love segments like this
I'm having a hard time visualizing this. Can you show me 30 trillion using Skittles or peanuts or something? Also I heard the word transitory at one point and that made me think this would all just transition rather quickly. Now I'm starting to think this will be stagnitory. I think what we really need to solve this problem is the further creation and implementation of obscure words like transitory.
Like your life on this planet is 'transitory'?
Mhmm taste the rainbow 🌈 lol 🤤
Love the explanation, and love that you're getting sponsors. A word of warning for anyone considering buying gold: For the past 50 years, gold has averaged about a 4.1% interest rate. That's about the same as the inflation rate, so you're not really going to get much of anything in returns. Dave Ramsey's words, not mine!
The positive side, of course, is that when gold inflates in price I can sell it at that price. If I spend $1,000 on gold against an inflation rate of 4.1%, I can expect the value of the gold to increase with inflation - its buying power is stable.
If I have $1,000 in the bank, my $1,000 doesn't increase with inflation. Instead, its buying power diminishes.
@@THall-vi8cp We're comparing it to stocks etc, not cash lol.
@@R3tr0v1ru5 Exactly! Through mutual funds, you could get a 12% interest rate, which is 8% after subtracting inflation. With gold, you could get a 4% interest rate, which, after inflation, is nothing.
@@katiebell1873 That's because gold is effectively risk free. You get a premium on risky assets for that risk. Gold gas gone up over 8% in the last month while the S&P has fallen nearly 7% due to the Ukraine crisis. If we listened to Ben, we could have beat the market by 15% this month. That's the benefit of a risk free asset
@@R3tr0v1ru5 I didn't see stocks mentioned, though for some reason when I read Joy's comment I read "inflation" instead of "interest." There's my blunder.
Pleeease do more of these!
I love these videos, thanks. Hope to see more
There is only one place when inflation is created and that is Washington D.C.
the current inflation is nothing compared to the real problem:
during the great depression, the federal reserve was created to help stop the depression and prevent future crashes, and they decided how they would do this is by preventing deflation, they implemented a policy of constant inflation. problem is, the deflation was not a bad thing, it was the only good thing about the great depression. you see, inflation and deflation are curious things, when the economy is doing bad, money will gain value, and when it is doing good, it will lose it. deflation is a good thing, and inflation is a bad thing, but the major causes of both, recession and growth respectively, are the exact opposite.
so, the federal reserve decided that the best way to prevent economic crashes was to devalue the currency, in the hopes that spreading ashes around would spark a fire. what this did was not prevent the economic bubbles and crashes that it intended, but rather cause one of its own, over the entire economy. the dollar bill itself is overinflated, just as the housing market was in 2008, an just as the stock market was in the 1920's, and as we keep inflating the economy, the overinflation of the dollar gets worse. eventually, this bubble will pop, and our money, and the entire economy with it, will crash, causing widespread suffering and anguish, poverty across the entire nation and most of the population, an economic crash worse than we have ever seen before. our economy would never recover, not to where it was. we would be left a poor nation, or rather region as our country would likely dissolve, becoming just like the third world.
This was a great breakdown, thank you for making it!
Australian here. Inflation is rising, petrol/gas doubled, electricity bills doubled, food is expensive. Damn :/