Jeff Booth on the Link Between Inflation and Inequality

[@dshephardcomposer]

Jeff is consistently one of my favorite interviewees. He takes a 30,000 foot view of the great macro economic forces shaping our society - economically, politically, socially, etc - and the future evolution of our society and provides a framework for understanding it in all its complexity and seeming contradictions. It forces me to think. And think critically.

[@foxinvestment7691]

Regarding to make millions in trading

[@foxinvestment7691]

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[@IngoBing]

Jeff Booth makes me feel exponentially smarter each time I listen to him 👍

[@jonnynelson7930]

Great Interview. Blockworks is such an underrated channel. Once I heard Jeff Booths argument, I just couldn’t unhear it.

[@BlockworksHQ]

Thanks for watching! Glad you enjoyed :)

[@jeffhaislipmusic]

Jeff Booth has a spirit of discernment and a very easy way to communicate. Great show guys

[@BlockworksHQ]

Glad you enjoyed Jeff!

[@jamesmorton7881]

As Marx woundered, we will need less and less labor, so what will be done with all the Leisure time ?

[@digitalfly772]

@@jamesmorton7881 Good one, When Marxism is practiced in real time. It's usually like "Well, we just don't have enough food to feed you.... and there's too many of you"

[@jl8484]

@@digitalfly772 ahahahahah

[@mickygarcia4251]

I love to hear from Jeff Booth. I couldn't more highly recommend his book, 'The Price of Tomorrow.'

[@cranklesnacks]

Jeff always has great insights.. “In Bitcoin, savers win.” Thank you 🙏

[@kyleschillaci4423]

Time stamps 00:45 Background 1:45 The Price of Tomorrow 4:13 Real Vision Interview/Time Traveler 6:50 Macro Backdrop/ Deflation 10:00 Incomes/Capital/Labor 14:30 Debt 17:45 What’s not right in the system? 21:20 Currency Wars/ Trade Wars/ Real War 25:30 Global Trade 27:55 Economy is Borderless 29:00 How does this period compare to others? 33:00 Exponential Technology/ Hamster Wheel 37:00 Technology is supposed to save you time 38:00 Government Intervention (Inequality) 40:00 What would you do today if you were Powell? 43:30 Is there a way to fix the existing system? 44:00 Bitcoin 48:35 Saving 50:00 Misallocated Capital 53:00 Inflation Injection/MMT 55:30 Other countries adopting Bitcoin 59:00 China Won’t enable Bitcoin 1:01:00 US should encourage bitcoin 1:03:00 Future Outlook

[@michaelippolito8705]

My man!

[@IngoBing]

Thanks!

[@chrisboggs4223]

Company 2021: 40,000 employees Company 2026: 0 employees; 1 a.i

[@b1lb0b67]

Best interview yet. Much appreciated! Grabbed his book a few weeks ago so this was perf.

[@michaelippolito8705]

Super unique perspective I completely agree, glad you enjoyed!

[@zonta71]

So refreshing g to have a cerebral financial youtube channel with your awesome guests. Don't know how you do it but its working for me

[@michaelippolito8705]

Thanks Bibi!

[@markclifford9410]

One of the most fascinating and insightful interviews I have watched on these subjects (and I've watched many in the past year or so) good job guys!

[@jonathansanantonio2402]

An amazing & info filled conversation. Thanks!

[@1painter4hire]

Probably the best explanation of inflation I've heard so far., This channel is Gold , Thank You !!

[@BlockworksHQ]

Glad you think so!

[@matthewshafer3970]

Fantastic video. Ripe with entertainment and deep understanding of a difficult topic. Well done sirs!

[@genestone4951]

Amazing discussion. Thank you very much!

[@michaelippolito8705]

Thanks for tuning in Gene

[@frothsof1]

Great interview, thank you

[@christophfrei9578]

Best book I read in 2021. Thank you kindly

[@semperepico]

Michael you’re crushing these interviews

[@michaelippolito8705]

Thanks my friend, glad you're enjoying!

[@foxinvestment7691]

For a successful investment

[@foxinvestment7691]

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[@foxinvestment7691]

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[@anitahallam2880]

One of the best podcasts I have heard!

[@susanaoliva8186]

Makes absolute sense! Emerging countries will feel a less painful transition. Looking so much forward to it.

[@shanillereynolds366]

This is an excellent interview, well done. Great conversation and different points that I havent heard in other Booth interviews.

[@andreventinhas5507]

It is funny...because the best things are free...many people pay bad things, a few see free good things, like this interview 🙂☺👌

[@hule32]

Amazing interview!!! Wow - incredible to hear it well spoken, loud and clear! Thank you very much!!!

[@theriverfox]

Really eye-opening interview. The best hedge against any future quantitative easing will always be Bitcoin.

[@davidwright8626]

This is a particularly good interview

[@shanewatkins1350]

Jeff really is worth listening to Thanks

[@RaistlinKishtar]

I bought 10 units buy foregoing all spending and investing and saved down payments. Everyone said it was a dumb idea and I should be buying into 401k. Inflation ate my debt for breakfast king and dinner.

[@TrevorEMayo]

Let me summarize for you. The farther down the economic scale you are now, the more likely you are to see your standard of living sink until you revolt and cause war. In this war of course the poorer you are the more likely you are to be slaughtered. After the battles are over we will take a rest and reset the game back to zero. Then begin the process of slowly evolving decades long exploitation again.

[@donwun4960]

great interview this guy is amazing

[@heliosAJ]

Nice questions

[@trailguy]

I recently noticed inflation when buying new tires. Not the total, but the mounting and balancing. In the 80s that portion was maybe 10-15% of the total, now it’s 30. Labor intensive goods are getting expensive faster than most.

[@andybaldman]

There's also inflation when they put air in them.

[@davidlloyd-jones8519]

Obviously the technology efficiency has improved - and wages not really increased - and so the only factor left is the inflation/increase/cost of beurocracy, rent and of actually running the buisiness

[@justinspony]

Very interesting. Thank you for this

[@billymcfarlane1387]

Thanks Great Video ..... my question .. would any Government allow Bit-Coin to compete with their currency?. I don't think so .... especially under a totalitarian system.

[@burnsn2002]

In the discussion, the phrase "government control" is repeated several times. I think there is a clarification to be made with that phrase where there is for example, the U.S. Federal Government (The Executive, The Legislature, the Judicial Branches) and the monetary government i.e, the Federal Reserve or more simply the central bank. These are two different entities one is indebted to the other and one has the ultimate asset - the debt. There is so much to say when it comes to central banks and monetary policy (A.K.A government) that I won't comment except to say that like in Monopoly the player with all the assets wins but in the end they lose too because the game is over for everyone. Thanks for the interview. The book is a must read for me. I barely know what I'm conceiving and typing here!

[@jennifergonzalez6431]

Jeff booth: I found it pretty humorous.... Only smirks

[@nachopieman]

Great questions

[@michaelippolito8705]

Appreciate it Sam

[@casabelavistabv3444]

What a legend. Thanks

[@michaelippolito8705]

Jeff is absolutely legend status

[@re-thinkthis4880]

@ 47:00 No one misses block buster and the intelligence of the market select netflix and the next iteration. I think the market will select the next iteration if it has not already has been selected in BTC.

[@johngrear6506]

Great job!

[@foxinvestment7691]

For a successful investment

[@foxinvestment7691]

Regarding to make millions in trading

[@foxinvestment7691]

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[@bujin5455]

9:02. The LiDAR that's on a car and the LiDAR on an iPhone are NOTHING alike. Car LiDAR is super high resolution, and phone LiDAR is super low resolution. Will we get to the point that high resolution LiDAR is cheap? Sure. Eventually. But we're no where close to that at the moment.

[@dshephardcomposer]

Jeff's insights are powerful and important. One note about the Lidar point though: Comparing the device on vehicles 6-10 yrs ago that cost approx. $75k and the Lidar tech inside the iPhone 12 is apples and oranges. A better comparison is to the ES2 sensor that Ouster plans to have ready for mass auto production by 2024 at a cost of $600 (in volume) w/ an expected cost deflation to approx $100 over time.

[@jamesmorton7881]

Moore's law, clock rates stalled 15 years ago. transistor leakage goes up as feature size goes down. NO doubling in the speed limit.

[@Lbiuzu]

Most ppl don’t realize that. They only add more cores.

[@Applepie409]

Have no Bitcoin but I love this interview. Forever hopeful but politicians,banks and croaney capitalists are not going to give their power up easily.

[@trailguy]

What happens to the price of bitcoin during and after hyperinflation?

[@antjero9167]

What will happen with the Bitcoin price, if a great deflation reset comes? Will Bitcoin goes down with all other asset prices? Because it's mostly inflation and debt which float the Bitcoin price up, right?

[@MrOscillot]

Please improve your studio setup. Your podcast is one of the few where the host's acoustics are consistently worse than the guests' (e.g. echoes, HVAC noise, crappy mics, etc.).

[@ianmorgan7113]

How does bitcoin have a determined value if it’s not correlated with a currency??

[@davidwright8626]

Is the gneral consensus that we are moving towards a more authoritarian system...including CBDCs. With much higher taxation & control. And plenty of inflation (in an attempt to deleverage). If it works...

[@hantusmostert]

People still put money printed by state into gold held by Central Banks as hedge. Yet central Banks have more gold to play with the price in a consortium kind of way. You need to go where they can't manipulate Bitcoin, Art etc. Money = Your labour time/proof of work. You work to eventually retire = Value of your time is eroded = Might seem you have More money / fiat but actually you own only 30 sents in each $1 IOU you own and the bank decides how much you can withdraw. This all happened because gold was decoupled and now they can print in abundance otherwise they would have needed to held the physical collateral. A Dirivitave of A Dirivitave is the WMD. Communities need to get together, buy a piece of land and everyone builts a small house where you can live and not spend all your deroding income on rent. Grow your own vegetables and other food and get self sustainable in your area. If everyone works together you move together as apposed to this plan to devide people, this division makes you stand alone and dependant on the fiat system. If someone can print all fiat, they can use that and buy all gold and other assets for free. Doesn't sound fair to me. The whole world is under control of the US $ and the biggest export product from the US is inflation.

[@bender9929]

Read the "Price of Tomorrow", then pray. Good advice

[@michaelippolito8705]

It's all any of us can do

[@MrDaymien1]

Why cant we have a global gold backed blockchain for transaction

[@michaelroberts4377]

There probably will be, there are gold based cryptos I believe. The transaction part is hard. I have never done it because it creates a taxable event.

[@charlesoleary3066]

Paxos gold

[@KanzawaFamily]

Curious what the effect of China trying to start its own cryptocurrency.

[@foxinvestment7691]

For a successful investment

[@foxinvestment7691]

Regarding to make millions in trading

[@foxinvestment7691]

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[@mitchtavio]

Every time I listen to people like Jeff, Michael Saylor, or Saifedean Ammous, I end up buying more Bitcoin.

[@ryanmarosy2940]

Why does technology bring costs down and create deflation? Why would it not make sense that these companies will agree to consolidate technology for those who can afford it and fix the price of goods high and keep more profits and capitalize the technology costs? The free market does not exist right now due to government involvement and corporate price fixing so what is the incentive to keep costs down and competitive, the consumer doesn’t matter anymore...they must pay for it because they need it.

[@TrevorEMayo]

O ye of little faith. The crypto gods will rescue us from all calamities.

[@cryptklownsnft7272]

How long before the dollar goes bust? Once Bitcoin hijacks and takes total control, does debt between countries still exist and how likely is war through this transition?

[@ruslantraveller7866]

To summarize - We are f**ed

[@saltpony]

What is the name of this host? Why don’t hosts have their deets in the description?

[@BlockworksHQ]

The host is Mike Ippolito: twitter.com/MikeIppolito_

[@craigthebrute7437]

Money can be printed as fast as tech gains appear. You'll never get to benefit. Own stonks, not cash.

[@geeem666]

I’m glad Cypriot had exposed all the corruption

[@DavidFilskov]

Isn't bitcoin destined to fail? - I mean at some point there'll be less and less bitcoins since people will loose their keys by mistake with no way to get them back ... but then quantum computers might soon be able to hack any bitcoin account, right?

[@HJ-br1bs]

How do we get real estate deflation? I believe this is the solution

[@jonnynelson7930]

I’ll be thanking my lucky stars when property deflates. The government where I live, have done nothing but pump it up harder. It’s going to be rough for people who rely on property as a pension. my generation might have a chance of owning a home without paying a 30 year mortgage.

[@lnd3005]

I see this was published a year ago, but Jeff Booth sounds like he is a time traveler from 2009. Interviewer had to prompt him to talk about globalization; he did not initiate it. I had to stop watching not long after that. It's too tedious and sounds like libertarian party press releases.

[@jphone9200]

Not fast enough

[@ssm59]

We can hope but never underestimate the idiocy odd the political class to screw things up.

[@nileswright8915]

history dashes all hopes.....'abandon all hope ye who enter here' is older than all systems.... :( Older than Dante and the old world order......

[@jamesmorton7881]

Marx was way ahead: -Marx did not simply dismiss capitalism. He was impressed by it. He argued that it has been the most productive system that the world has seen. -Marx accurately predicted that capitalism would foster globalization. He saw capitalism creating a world market in which countries would become increasingly interdependent. -Capitalism thrives on inventing new and alternative ways of producing that affect how we live. Technologies change our lives at an ever more rapid pace. Old products must make way for new ones (and those who make them). -Powerful companies, concentrations of wealth, and new methods of production make it increasingly difficult for independent professionals and middle-class merchants to maintain their status. They end up with the wrong skill set or working for companies that have put their kind out of business. He did not want the vast majority of people to have fewer material goods. He was not an anti-materialist utopian. What he opposed was private property - the vast amounts of property and concentrated wealth owned by capitalists, the bourgeoisie. -Marx thought that human beings have a natural inclination to feel connected to the objects that they have made or created. He called this the “objectification” of labor, by which he meant that we put something of ourselves into our work. -Marx wanted us to be able to break free from the tyranny of the division of labor and long working days, which prevent individuals from developing different kinds of capacities and talents. -Historical materialism is, simply stated, the theory that human societies develop according to how the “forces of production” are ordered, and that the features of a society will, ultimately, relate back to the ordering of the forces of production. People will “relate” to the system of production as a class. Therefore, the core conflict in society has been between classes on opposing sides of the systems of production - this is the dialectical part of his theory. -

[@ryanmarosy2940]

You forget the golden rule...he who has the gold makes the rules. The wealthy who owns the products and services can engage in price fixing to keep others out. You must run the economy on freedom. Democracy and freedom and others having the ability to gain status is what the marxists can’t relate to.

[@jamesmorton7881]

@@ryanmarosy2940 wrong Pendejo capitalism is UNDEMOCRATIC master / slave

[@michaelroberts4377]

@@jamesmorton7881 your dollar is your vote.

[@Occultben]

So what went wrong with Marxism?

[@ryanmarosy2940]

@@jamesmorton7881 crony capitalism is the problem not free market capitalism...the government getting involved and manipulating the rules and showing preferences is no bueno. The common man benefits greatly from true free market capitalism even Marx agreed with that. Marxism is based on capitalism first then moves into a different format once the country is able to. Unfortunately abuse of power is a human problem we the people must overcome under any government. It’s easier to conquer others than it is to conquer oneself. If you had power would you relinquish it so others could achieve their dream? Probably not. You would do your best to maintain your status and stamp out the competition because of fear. That’s what continues to happen through history. Big tech is doing it to the US now and so are others. You will work more and have less freedom moving forward unless things change. The people in power don’t want you to have time to create the next best thing for humankind.

[@DomiD666]

Can every entity be its own individual dictator & become self sovereign without the need to be validated by an external 51%; does BitCoin remove individuality & create the common clone? Be different, define your own value set and encrypt. The DeVil's always in the DeTail Code yourself carefully with mindfulness 💜🐼🐻🐕🐒🐎😺🦄🐳💜

[@noahlockwood9766]

We are currently at war on every front but shooting (with a few exceptions). Cyber, Financial, Information / Propaganda, Healthcare, Psychological...

[@mercurynfo]

To all Democrats out there: if you tax all companies in US 100%, you cant pay the income deficit in 2020! Wow.

[@pagexx]

Jeff booth is so intelligent. He speaks like a boring person, but nothing he says is uninteresting.

[@Clubrat]

Yes the system doesn't work. On top of this we have demographics going down in many developed countries. Less people, exponential technology and we are supposed to have inflation???^^ The policy makers need to wake up.

[@ForwardGuidance]

we shall see if any of these know-it-alls can predict the future.... where will they be if they can't, still hanging out in their mansion and oversized yacht so no skin of their life.

[@quanty30]

Bitcoin has a number of fatal flaws. Not least its awful for the environment.

[@Tenebrousable]

It has the most secure absolute scarcity monetary policy. That's worth all the cost. And the cost is getting paid. TX speed contest is for shitcoins, and you'll still lose to Visa. And visa propably has more secure monetary policy than any of your shitcoins. BTC power use is perhaps 1% from what USD uses. All that pentagon bs. Driving jets and tanks. Turning concrete in to dust and people into mush. That's the comparison we're overcoming. You think that you can overcome that without energy use? Well,you propably won't.

[@supermotog2156]

@alex martin *Boom*... everyone that fairly researched this feels opposite.

[@janschwieterman7748]

Poor booth doesn't know about Ethereum... this guys already out of touch and will miss the biggest network effect in crypto. One word: Ethereum's de fi.

[@Tenebrousable]

He knows it. He sees no reason to talk about it. Creating nonfungible contracts don't create network effect.

[@taccntb4345]

@@Tenebrousable Thats as idiotic as saying BTC has zero value and is a freaking meme and the only reason it has value is due to what people say it is... Hmmm, kinda hit a little too close to home? Doge is spiking in value but has zero value. Even btc has more value than BTC... but it not saying too much. Rothschild just bought 275K worth of ETH yesterday. Visa and MasterCard are now using ETH's settlement layer and Non Fungible Tokens will be used to represent "shares" of real estate if they wish among whatever the ETH team dreams up next. Your understanding of how this space will evolve is tenuous at best... In the end Im sure Booth will come around to finding ETH. ...The world is ETH's oyster, boomer. ; ) PS I also own BTC but know what's a better SoV. DYOR.

[@buyahouse...purchaseorrefi4618]

truth .. love you man