2024 Inflation Explained

Inflation in the United States is at about 7%. How did it get there? What does this mean for our economy and our wallets?
If you're interested in learning more about economics check out the Department of Accounting, Economics and Finance at SUNY Brockport. www.brockport....

[@urban_coyote]

"Uncomfortably large national debt"... That's putting it lightly

[@Sandlin22]

Not really because if you look at "national debt" it's mostly loans for mortgages, vehicles, and retirement plans. This is called public debt and overwhelming majority of that is and always has been paid back.

[@miketracy9256]

How did borrowing an extra 5 trillion dollars since 2020 not create inflation?

[@peterponcedeleon3368]

Here is the definition of inflation. Inflation is simply adding more money to the current money supply. That’s it. Now a natural consequence of adding more money to the current money supply are rising prices, or preventing prices from falling. Creating inflation is neither good or bad. But creating inflation does have a consequence. pick up at 1960s Webster’s dictionary and you will find that same exact definition. It’s the Keynesians and the academics who twisted this very basic concept of inflation.

[@clarestucki5151]

The original and still the only real definition of "inflation" was, "Raising the ratio of the amount of money in circulation to the amount of goods and services (GDP). Sometime in the decade of the 60's, we foolishly let that definition morph into being synonymous with 'rising prices'.

[@peterponcedeleon3368]

So true. The academics and the Keynesians took over and started what was a very basic and easily understandable concept.

[@Lewis-me7jr]

I really wish the education system would do a better job explaining inflation. Even relatively educated people don’t seem to understand it.

[@dboy6400]

Pretty good but leaves out the significance of the government passing spending laws or Executive Orders, which cause the Treasury Dept to sell bonds to the Fed through big banks, then the Fed creates it.

[@billmitchell2080]

It was the recognition by the producers of goods, that the stimulus money was delivered to people who spend every nickel they have. If individuals would save, this would drive prices down.

[@aslamtu]

Well done.

[@classicadministrator2408]

I Agree

[@myleswelnetz6700]

We’ve had this problem since LONG before 2024.

[@splashautumn9163]

Make more economics videos pls

[@yasinnabi]

WOwww this is awesome. enjoyed watching :) thanks for sharing.,,.

[@Sandlin22]

Explain if forgiving school loans will effect inflation. I certainly hear both sides making different claims.

[@SignumIgnitum]

Gotchu fam kzbin.info/www/bejne/en21Z6Wha6tkrbs

[@dwoods1113]

Strange that the Fed stopped reporting the money supply on a daily basis just before the money printing and inflation. Also, if the government wasn’t spending beyond receipts the printing would not be necessary. The value of the USD has been eroding for years and will continue to do so. Inflation is not going away. Stagflation is what lies ahead. Also the loss of world reserve status which will make the US the poorest nation overnight.

[@Finness894]

An awful LOT of countries, all over the world, are not taking loans from the IMF anymore. Could you do a video explaining how this affects America's income.

[@grantbeerling4396]

Because many have fiat (by decree) currencies, rather than gold standard. Money is not the issue it is it's comparable value to others often based on natural resource, rule of law, stable governance, thus Nordic currencies are expensive and many other regimes that are viewed as corrupt often link their currency to a stable one or the world reserve ie the US dollar . This is still problematic. Bottom line in a world of mercantile markets there are winners and losers, the winners have a trade surplus and the losers have a trade deficit. On a planet with a limited free resource supply, this is a problem we have yet to solve for the future generations. Not about left or right, just survival.

[@justinpatrick9249]

2 years later still fucked and getting worse…

[@MrMath2001]

If the inflation over the last year is, say 10%, a rough figure perhaps, why can't I force the IRS to tax me on $90 for every $100 I earn, and claim the rest from the Feds?

[@dp7853]

Are you saying the fiscal policy has no effect on inflation. Deficit spending and government deficits don’t matter as long as the federal reserve is able to properly compensate and adjust the money supply to that spending? If that is the case why does anyone care about the deficit and why doesn’t the government provide every citizen with an unlimited amount of money so they can spend it as they wish?

[@motorcyclemike1299]

Why 2% inflation rate? Why not let prices stay the same?

[@realtalk7547]

They say that it adds in achieving price stability. They don’t want to assume deflation or the liquidity in the market, that actually is their real job, will dry up. To buffer the system with liquidity for growth they set an arbitrary figure, 2%. One spokesman said “Modern economic theory says that inflation expectations are an important determinant of actual inflation,” that to me seems a self fulfilling prophecy,but oh well that’s just me.

[@Schizachyrium_Scoparium]

Gotta love how so many of the videos about inflation always start with a video of a hands on way to fix the problem 😂

[@Nobunaga1983]

Feels like this is a lot of word play and doesn’t answer anything

[@Saritapleasure]

Dependent on market of monopolies

[@jasonlende20]

If you look up the value of the dollar from 1950 to know. You might see something

[@jasonlende20]

Raising the debts sealing where it begins

[@Ame_rodri]

America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun. Layoffs will get worse. Which is why I'm looking to enter the market now and ride along as the economy gets back on track. I’m building a $550k portfolio. Any stock recommendations?

[@classicadministrator2408]

This well articulate comment is true 9 months later.

[@kryptoblogger1227]

But how they are going to pay their debt if Debt vs GDP is 130%? They spend more than they make. They have to print money or am I wrong?

[@DeanDoesMapping]

Printing more money doesn’t create more money. Printing more money just decreases the value of the currency. Just ask Zimbabwe, Venezuela or the German Weimar Republic. When there isn’t a lot of currency floating around, the currency becomes stronger such as Kuwait

[@tammyclough3430]

Tries to blame putin for high gas prices yet we were seeing them in canada long before Russia went into Ukraine. I can't believe he doesn't think politicians are to blame who makes the monetary policies? Politicians.

[@estebanlara3702]

Big companies have more control of inflation than anyone else.

[@MattMcCann-eg7mj]

And WHICH President raised the national Debt by 8.4 trillion. (unpaid for tax breaks for billionaire's )

[@arianneduc7074]

is there a financial crisis this 2023?

[@willnitschke]

Nobody thinks gas prices = inflation 😅

[@MengerMania]

Dollars cannot act as money and reserves at the same time. The Fed creates RESERVE DOLLARS, which we cannot use as money. Banks create MONEY DOLLARS, which people can use as money. Please get a deeper understanding of how the system really works.

[@klevdavful]

Intresting take .

[@HoustonOilersForever]

Yet,Joey B in the White House giving countries fight wars billions and Maui a BIG F/U?

[@MWhaleK]

Corporate greed is 100% the main factor.

[@PatrickFarrell-fb6id]

Always an asshole in the Wings

[@biggal60]

What the hell is "demand for money"?

[@edwardmclaughlin7935]

biggal People like to eat, drink, have a place to sleep and keep their stuff. They need money for all of that.

[@myleswelnetz6700]

And no, it has nothing to do with President Biden.

[@gabrielvalentin4509]

Exactly, other countries have much higher inflation. But people will still blame biden.

[@realtalk7547]

It actually does have to do with every president whose money policies inject money into the system (printing cash) without taxation. This causes inflation. The only question is how much? During covid we infused 158 billion into the economy which is slightly over 7% of the normal circulation of money in 2021-2024. Then if you add the excess trillion in make work programs of the so-called inflation reduction act that adds more. So if throwing cash from the presses to the market in search of a home cause a reduction in inflation (thus the name) why couldn’t it cause inflation? Most economists say it will. In fact, that is how politicians these days tax without raising rates. That is bad for reelection. They garner capital by stealth. IE inflation. They print. But he does confirm one thing though, government caused inflation even if you don’t put a name to them.

[@investorbettor505]

He’s definitely been one of the absolute worst presidents when it comes to inflation in recent times but it’s worth noting this is not a republican vs democrat issue it’s a govt vs people issue. Both voting bases need to come to this realization otherwise the status quo will remain

[@hq1082]

This is a bipartisan issue, this isnt the time to play sides.

[@myleswelnetz6700]

@hq1082 I’m not.

[@JDOG1974yes]

The democrats have printed plenty of money !

[@Anas-h4b9r]

What Occident thought about Inflation of 2 to 3 pct, they supposed that of Rich pay the Zaqat of 2, 5 pct of their wealth, they will create 2 to 3 pct additional demand for People in need. That,'s why inflation is calculated now on price of commodities 1st necessity only(Panier de la ménagère) but This is false and suppose that Bank will not serve anything or serving but as Occident don' t pay Zaqat 3 pct will come from bank The Story is much bigger than this and Inflation is not really serious pb. On the contrary of that it means economy is growing and demand as well. We need to pay attention with middle class and poor one if Salaries are growing as well and Gov assistance going well and avoid accumulated profit in hand of Rich society

[@toryficarola]

Why does this econonist look kind of like a ginger version of 10th President Jon Tyler? Is that just me? His bringing up the Federal Reserve in this video, made me think of what Tyler would've thought of the modern Federal Reserve, knowing how staunchly he opposed returning to the old republic's National Bank.

[@rskrilly]

I'm just here for 2:25-2:28

[@edwardmclaughlin7935]

rskrilly It is the highlight for sure.

[@bookmarks7092]

....

[@JDOG1974yes]

Trump 2024 is the only way out of this.

[@shirleyvargas1117]

Of course, inflation will lower just as soon as trump gets into office again and every will be happy that Trump did that 🤦🏽‍♀️

[@estebanlara3702]

Like magic

[@Lewis-me7jr]

We’ll be in a full on recession when he enters office and all of his supporters will believe he “fixed the economy”. The GOP knew it would go down this way. Try explaining this to his supporters though. You’ll get nothing but glazed over, puzzled looks

[@PatrickFarrell-fb6id]

Like reality

[@nephilimivritt8216]

thank Biden and his global tech friends for this