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Art Laffer: We are clearly in double-digit inflation
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- เผยแพร่เมื่อ 18 ส.ค. 2024
- Former Reagan economic adviser sizes up the state of record inflation on 'Kudlow.' #FoxBusiness #Kudlow
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This is all being done on purpose. They're not even trying to do anything about it.
The Democrats keep harping on all the arguable damage the energy policies will have on the environment, effecting several generation down the road, but they have no compunction in raising phenomenal amounts of debt which will definitely effect many, many generations to come!!!
Whaaaaah !!!
Because the CCP Handlers are telling Joey what to do.
Feds can’t …debt gdp 130% overall debt 400%….300bhp hike would crush the system
The border……they have ALL broken their oaths of office. Treasonable offenses. Jail is too good for them.
Everything this Administration touches turns into a huge dumpster fire 🔥🔥🔥🔥😳
Everybody Trump touches goes to prison.
@@singalongwrudy8690 No one agrees with you, look you have no likes, That shows you are talking nonsense 🤡
@@saral161 you get "likes" because you only visit sites that tell you what you want to hear.
Biden's policies have been a disaster for the middle income and lower income Americans! This November VOTE REPUBLICAN!
Opening the reserves prevents Wall Street from price gouging American consumers.
The big guys got to realize that people in this country are not stupid and they're not going to buy in on him using the fact and blaming Putin for his problems that he created
People in this country are stupid. Democrats burn down cities over a criminal and conservatives just let the government steal from them. Not to mention the invasion at the southern border this country has a lot of suckers
Keystone is for export. Trump promised Putin there would be no U S interference in Ukraine. Republicans will NEVER win Arizona again. Texas is turning BLUE. Gerrymandering and voter supression will NOT work anymore because more suburbanites are living paycheck to paycheck and will be less likely to vote for a rich GOP fat cat.
Okay but it started with trump... yet no one will say that... so this is the same BS it aint news... its BS...
Is anyone surprised The Fed has only had one tiny hike to 0.25% and hasn’t even begun to unload their balance sheet and the wheels are already falling off?
Fed has raised rates twice.
impossible to unload an 8 trillion bal sheet.
The fed cannot raise interest rates!, because the wheels would come off the bus. Unlike back in the early eighties. everybody's loaded up with the debt. there's corporate debt, there's government debt, there's Personal debt. The fed is in an impossible position. government spending and federal reserve policy over the decades has put us here.
@@RepublicConstitution
Once so far.
If the fed was serious about tackling inflation, they'd have raised rates much, much sooner. Real rates are still deeply negative. Rates must be ABOVE the inflation rate to even begin to address it.
We’ve been in double digit inflation since Biden’s first month, it just wasn’t reported. Everything I bought for personal and business jumped a minimum of 15%.
Same experience here.
Yes .. can’t denial
Oil companies report record profits during the pandemic so what are you whining about ?
@@singalongwrudy8690 so, obviously you are unaware of how economies work, but if you constrict supply artificially, which was done by Genius Joe the first day in office, and demand remains the same, prices will rise. In the case of oil, it is sold primarily on the futures market. Now, the producers’ prices to supply the oil likely doesn’t change much, so their margins are higher. Catching this? And, it’s the same with consumer products. There is a constant demand for various consumer products, say, toilet paper or steak. If a government continues to pay people not to work, there are not enough people helping produce and ship these products, raising the value due to scarcity, and the employees who remained likely did so at a higher compensation so the employers could keep the business going. Following? Then, the government kept injecting more free money into the economy. Well, when money isn’t earned it doesn’t represent value, so, that causes inflation, as money without earned value is not as worthy as money earned. So, we have a situation where the idiots in charge basically did everything backwards and are now shocked there is a problem. At first, they claimed it was transitory, a fancy way ( to make you believe they’re really so much smarter than you) of saying temporary. Well, you can’t do everything wrong, and they have, and not screw up the economy, giving us the worst inflation since Carter. I lived in those times, and it was bleak. Recession will follow, completely unnecessary, just due to people making catastrophic mistakes. Or, maybe it was by design, to get more people addicted to the government heroin (financial aid). So, yes, even in bad times, utilities like power and such will still be needed, and some will get very rich from it. Doesn’t mean we haven’t been experiencing double digit inflation from the time Genius Joe took over, because we have.
Are you smart enough to understand?
@@singalongwrudy8690 XOM did make record profits of #23 Billion in 2021. However XOM had lost 9,000 highly skilled workers and LOST $20 Billion in 2020. So in Reality, they made a $1.5 Billon profit from TWO years of Operations. The only one "whining;" here appears to be YOU!
In calculating inflation they don’t include energy and food. So the real rate is much higher than 8.5 percent.
It’s upwards to 17+/-%
Does anyone know the rationale for excluding food and energy?
20+ then to 50 this year. Then societal collapse and starving. Thanks Bejieng biden and the globalists
True inflation is about double that number.
I don't know how they calculate the inflation rate but I can tell you from being in business that all the goods coming into our business have more then DOUBLED IN THE LAST YEAR! I think we are in hyper inflation however it's calculated.
How can we shut down the economy and increase massive government spending, and expect good results? That is exactly the opposite of good economic policy.
Given that it wasn't done in the expectation of "good results", or in the guise of "good economic policy", your question is moot.
Ask republicans, they did it.
It's okay, we'll just start WW3 with a nuclear power so we can blame it on them. We're gonna do our very best to push that country into a corner, so that we can get them to take out our cities. Problem solved.
@@boristheamerican2938 Explain exactly how the Republicans did this. Democrats have all the power lol. please prove your comment.
@@michaelkinnaman6771 When did this happen? The year 2020. Who was president in 2020? Trump. Own it.
double the price I bought 18 chicken eggs at Cub Food in the state of MN when President Trump was in office, 2.49 cents Joe Biden was President now 4.99 cents, a 100% increase in current food. people are very tired now, wages have not increased, but gasoline, foodstuffs increased continuously, gasoline increased 4.25 cents. Americans cried before Biden was deposed
Mr Laffer hit the nail on the head "real leadership" and there's not a democrat alive who can fit that bill.
Educated people understand that inflation is hitting the entire world hard right now. Not just the United States. Biden had a plan and tried to pass it, but the Republicans and two Democrats thwarted his plan in order to sit back now and point the finger. Foolish Americans including these reporters overlook the obvious and the truth of these facts and now blame Biden as well. Wake up people, can’t you see that the Republicans would rather F you all in order to get Biden and make things right? What does that say about them and those who vote for them? It’s a kamikaze attack, but these rich congressmen and women are not feeling the pain, they got rich off of all of you suckers, just like the rich and powerful people that they support.
Reagan Revolution “Supply Side Policies” are never given the credit due for helping lower inflation
Oil companies report record profits
Not a Reagan Fan, I don't think he was a bad guy, just nothing special. I was a teenager in Detroit in 1980 and I remember there were NO JOBS--- PERIOD.... If you were lucky, you may have been able to find a Fast Order Cook job running the grill, but there was NOTHING.... I ended up joining the military at 17... Trump by Orders of Magnitude has been the BEST President.... You NEVER Heard Reagan mention FAIR Trade or Tariffs 1 single time.... Trump is the ONLY one!
And does anyone have the patience anymore to understand that this rate of inflation is going to continue for years to come if the Fed DOES raise interest rates higher than the inflation rate? Reagan was in office and out of office before the economy had a full recovery. This rapid inflation is probably going to get completely out of control, because the Biden administration and the timid policies of the Fed are going to figure this out too late, if they figure it out at all.
@@stevestewart007 agreed, however my opinion is Fed has wanted inflation for years to deal with massive debt levels + entitlements which couldn’t ever be paid
@@singalongwrudy8690 great news 👍🏻. Now if government decides to incentivize, for the long term, rather than disincentive exploration and production we will see greater volumes and lower prices
Wow, an informed and rational financial segment. I'm amazed. I might have actually learned something.
If you don't know whether you've learned something, then how can you call this discussion informed and rational? I'll tell you now, what these guys are saying is absolute bull. Don't listen to them: they'll rot your brain.
@@vossrightfurtwangler9989 Yer, like, dum n stuff.
@@path1024 Ah. Too late.
Art Laugher is awesome.
Certainly double digit here in Los Angeles
Were all screwed.
Aaaaaaaamen!!!!!
Invest in precious metals
I chose brass and lead.
The most stupid thing is that Powell doesn't want to sacrifice the stock market. Fed is too busy propping up the stock market. We need full 1% in every meeting
It works! People in the stock market turned up blind Eye that their money is turning to trash
We are going to have a mortgage crisis as soon as these variable rate mortgages start getting reset.
If you think 2008/09 mortgage problems were bad . . . . you ain't seen nothin' yet!
Get Biden outta Trump's office, TRUMP CAN GET US OUTTA THIS HUGE MESS
Try doesn't even own his OWN office..plus Mar A Lardo will be below sea level soon.
Thanks Joe Biden..!!! Hey, let's bring in another 2 million illegal immigrants to solve this problem....
DOUBLE DIGITS.. And yes, expect it to get worse. Mark my word.!!!
until we own nothing and we're all happy supposedly happy anyways
@@julielevesque2668 Well said, I totally agree.!!
Much much worse- 100X worse then the Great Depression. Weinmar Republic territory here. Scary times coming.
Yes mr laffer we are In double digit inflation and it is no LAFFING matter?
The next president needs to bring in Art asap. Congress needs to do a spending freeze asap and the federal reserve needs to Volckerize.
No one has the courage of Paul. They're all weak.
EVERYBODY is reaping EXACTLY what they sowed. ZERO EXCEPTIONS. ZERO EMPATHY.
I’m a believer in what Art is saying!🤠🇺🇸
JOB SURPLUSES are NOT new jobs ... nothing more than the jobs that existed and are no unfillable, by those same workers, who now feel entitled to a better life without working ... ANY JOB ...
It's everyone 's fault except biden. Talking about accountability.
Yes we are in triple digits inflation and soon as illegal immigrants get FS, HOUSING, CITIZENSHIP inflation will come down WATCH FJB.
Oh that's right according to Biden's Administration I just need to go buy a $60,000 electric car but too bad it won't carry all my tools
Oil companies post record profits
I'm not a genius but if we stop sending money overseas that mite help the American people out I just saying
Look up how inflation is calculated today vs 1980
Tell us if you will
Vote to get rid of Biden, AOC and the Squad in the next election 🚙🚙🚙🚙🚙🚙👍👍👍..Let's Go Brandon!!!🤢🤢🤢🤢🤢🤢🤢🤢🤢🤢🤢🤢🤢🤢🤢
Of course. That 8.5% is bogus. It's way higher than that.
END THE FED!
We are in a Truble
Remember when the White House bragged about how the summer 4th of July cook out was 41 cents cheaper.
Try 30%-40% of true inflation.
A 12 pack of pop is almost 9$
Let Art Laffer talk! Stop interrupting him and adding your opinions!
Don't give money Ukrians or Finland first give American peoples
God please get inflation down no one deserves to struggle this much with a stroke of a pen 🖊 🤬
Nothing of this inflation would have happened if Donald Trump will be the president to United States we need Donald Trump back to the White House seriously
I just like to stop seeing it all pawned off on the Ukraine conflict. While that does make things worse all the trends were already going this way due to multiple policies for years. Back in 2008 economic and agricultural journals were noting policy pushes and government incentives to grow biofuels in place of food crops was going to have dramatic impacts down the road on food supply. Add to this other agricultural policies that have cut food production and meat, poor fiscal management and malfeasance, money printing to prop it all up, the over the top Covid policies, the over globalization of markets, etc… and the Russia/Ukraine mess is just a fat cherry on top. The main question is are our governments, experts, technocrats really just short sighted and stupid or is there a plan? It moves to the smart prisons, er I mean cities, has nothing and it eats its bugs. No digital credits if you won’t eat the bugs and remember to be happy.
2008 Bush was president, so this is all the republicans fault. I agree.
@@boristheamerican2938 I’ll be generous that there’s absolutely no cause for partisanship. There’s been plenty of malfeasance and bad policies all around. I think sometimes there’s only an illusion of ‘teams’, bread and circuses. But 2008 was the year Obama was elected and the left has more embraced climate policies where the solutions may ultimately be as or more destructive as the problem, similarly to Covid policies.
Thank you for info
WTF. Go buy something. Of course we're in double digit inflation. Geez!
Cleary double digited. He can bend his fingers all the way back to his wrist. I know. It's amazing. I knew a Catholic girl like that. Could not be beaten at arm wrestling. She always had that edge. Didn't get a medal for it though. Got it for passing a Geman test. Got an oak nut for it. Have no idea what that means. But she loves it when I guess because she can be any of those things and doesn't mind when she doesn't understand what the hell I'm talking about. Others are hopelessly presumtuous to the extreme negative. Bend my what? No not your what dear
We’ve known this for a year via social media. You might start getting ready to start reporting the millions that will be starving soon.
Exactly. Laffer knows.
The great Art Laffer accurately describes how bad things are under Democrat leadership, but also how good things could be under true, Conservative, Republican leadership! 👍
I though this was Jimmy Dore for a second 😂😂😂
What a joke
I live in the real world there's no new jobs growth, there is only existing jobs that were left during the pandemic, because people were lazy.
Cut the Defense Department down to under $100 billion per year, not over $800 billion per year, like Biden proposes.
Learn from your mistake, vote Republican this November
It it isn't already too late.
I got Friends that are liberal and they still cannot come to terms to blame this joker in the white house
Next great president of the US - Ron Desantis. Tough conservative, paepared to make the tough calls.
The problem is that the bottom income earners are making to much $$$ for what they offer. If we had non restricted H1-B Visa's for workers, we would have an endless pool of extremely cheap labor to compete with average American workers. This would drive to business costs, increase CEO, management pay , share prices which would create more jobs reduce inflation.
Just means more government spending and more inflation. The low paid are supported by tax credits housing subsidies etc... why would you import huge numbers of them?
@@SlobberySlob Reduce cost of labor. The wealthy would make more $$$. They would then buy more yachts and luxury jets. This would create more jobs.
Two choices. Stop government spending to stop inflation. Or, screw the working class with high interest rates to
control inflation". Well, it won't be spending that take a hit.
They better not put the interest rates up over 10%! It would decimate people (who aren't wealthy like these talking heads)!
America's downsizing is wonderful to see about 30 years overdue
Volcker could raise rates to 20% because the U.S. at the time collected about $500 billion in taxes/year and the national debt was only $900 billion. Today, the debt is $30 trillion and the U.S. only collects about $4 trillion in taxes. If interest rates go to 10%, around 60%-70% of the U.S. Budget would have to be used just to pay the interest on the national debt. Currently, about 15% of the budget goes to interest payments.
TLDR: double digit inflation is going to be here for a long time. Thanks Joe!
Bringing interest rates above the inflation rate is clearly the only way to cure or inflation.
Art is very wise the best of the best and so positive!!
I don't like the Fed manipulating interest rates, I prefer the market set rates to match the economy of the day. The free market economy is better at adjusting everything, including interest rates. The problem we have is there is no free market now, it is all Government controlled.
You're exactly right....and without a free market, is it really fair to call our economic system "capitalism"?
NO COUNTRY CAN CONTINUE TO SPEND BILLIONS AND BILLIONS OF DOLLARS WITHOUT CONSEQUENCES!!! WHAT THE HELL ARE THE ECONOMISTS THINKING???
The newest Voodoo economic theory is that the US has a magical economy and can print as much money as it wishes. This Voodoo economic theory replaces the "US has a magical economy and can borrow as much money as it wishes" since the East has stopped buying our debt. That's why we are in a soft default, we are paying the interest on our debt with newly minted and baseless dollars.
we are at the mercy of progressive politicians? OMG!
Stay in your lane - financial commentary
Zelenskyy is NOT a great leader. He is a great actor and puppet.
Dude, you are a complete and totally uninfotmed IDIOT.
Beyond this I won' t waste my time on you.
Shhhhhheeeshhh !!!
Sell AAL buy BBBY today. SEMPER FI Bros
Interest rates need to be at least 20%!
Laffer is one of the great economist of or time
Art: If interest rates at banks and even the old Savings and Loans were put back at 5% or more, that would push down inflation and get that money (trillions since Obama) back to the real owners and out of the hands of the super-rich banks, who don't need to be supporting totalitarianism, PERIOD! Give us back our retirements so we don't have to let the investors put our money into China or Russian oil through the EU! sm
For me to follow this administration would be like me teaching my grandkids to lie, cheat, and steal. Let's go BRANDON
We are NOT experiencing phenomenal job growth. We have a labor market that is attempting to return to normal after the pointless shutdowns put 1/6 of our workers out of work. We need to stop looking at the easily manipulated unemployment rate and job figures and look at labor participation rate. We have yet to return to anywhere near pre-pandemic levels and are still millions short of being where we were before the 2008 crash.
Actually it put 1/2 of our workers off the job without pay and with pay.
Hey democrats and white left are you still fine?
WOW -- Cathie Wood's mentor! Nice to hear from him.
are we
Say goodbye to cheap loans. Get ready for 18% loans. Dems at work
We call on the people of St. Petersburg to elect their own president! Once St Petersburg elects its own president! We will cancel the sanctions on St. Petersburg!
Behold the "ART OF LAFFER!" sm
How long to pay off government debt, with double digit inflation?
Have you ever heard a politician mention paying off the national debt? NEVER happen. Impossible.
20-25% is more like it.
Stop interrupting the guest!
What would Milton Friedman do?
I thought we were in Kansas.....
Higher Rates are suppose to reign in spending . At this point there are no signs of that happening .
Look at cost of fuel for trucks
Remember that companies have to add on their profit margins to the cost of goods. So, 11.2% PPI will translate to 17 or 18% CPI Joeflation down the road. We are screwed!
More loans more money no loans no money
Joey's got it all under control
Art have you paid your penny bet to Peter Schiff?
Has anyone heard of the Philips curve? The inverse relationship between information and unemployment.
Mission is double what they're saying a lot of contracts are tied into inflation like everybody on social security they are lying they don't want to give us a 15% raise we are struggling
Wishful thinking this will never happen
Biden says NO
only 8.5%
THE GREATER DEPRESSION IS COMING!!!
Fake VS. REAL. Lies VS. Truth. Evil VS. Righteousness/Goodness. Spirit of God Almighty, Creator of Heaven and Earth VS. spirit of satan.
Stop it already You couldn't be happer.I hate it.great evil is about to be fall us !
They don't even include the inflation already built into the price of things from years past.
Wow ! Put´n is very powerful indeed.
WOW. THATS NEWS ☺☺☺☺☺
Pay a living wage and we can "prosper" our way out of this.
What company can raise their salaries every month to keep up with skyrocketing inflation? We are not going to "prosper" our way out of this, we are destined to enjoy another Great Depression.
Ya don't say. Wonder what would have caused it
I agree the US is in "hyperinflation". But, half of it is caused by businesses illegally exercise "price hiking" to make more and faster "profits". What about stopping that ?
No....it's not hyperinflation.
....not yet.