General Milton Friedman - Understanding Inflation

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kneeblock

Drapetomaniac
Apr 18, 2015
12,348
22,801
I listened to every second, interesting but...

-Doesn't mention the effect of printing Trillions
-Places no blame on any policy or administration

Do you have any links where he addresses those topics?
He actually blames several policies and administrations, from Johnson to Carter to Nixon and Reagan to Clinton in his historical analysis. He also focused on comparing the policies of the Federal Reserve under Volcker and now under Powell. Printing money means less than we imagine in inflation depending on who they allow to capture it. Broadly distributed, new money can lead to demand side inflation, but as he says repeatedly, this particular cycle we're in is a supply driven inflation. So the dollars are being vacuumed up using the supply issue as a rationale not overcirculating due to high demand as in some past inflation cycles (eg the circumstances that lead to the Depression).
 

sparkuri

Pulse On The Finger Of The Community
First 100
Jan 16, 2015
28,876
41,383
He actually blames several policies and administrations, from Johnson to Carter to Nixon and Reagan to Clinton in his historical analysis. He also focused on comparing the policies of the Federal Reserve under Volcker and now under Powell. Printing money means less than we imagine in inflation depending on who they allow to capture it. Broadly distributed, new money can lead to demand side inflation, but as he says repeatedly, this particular cycle we're in is a supply driven inflation. So the dollars are being vacuumed up using the supply issue as a rationale not overcirculating due to high demand as in some past inflation cycles (eg the circumstances that lead to the Depression).
Other than the words put in intelligible order, there's nothing of substance here.
Inflation is currency printing, period.
That's literally what it means.
The "administrations" being cited means at its base he doesn't know what he's talking about, it's painful to listen to.
What Voelker did was done calculating a CPI that doesn't even exist anymore.
Real rates aren't even allowed into the orb Powell is living in.
Additionally Powell has no more say in monetary policy OR Fed policy than Biden has in drafting executive orders.
 

John Lee Pettimore

Further south than you
May 18, 2021
6,104
6,499
bailouts aren't Capitalism.


End Corporate Personhood.

Oh, Citizens United.

How'd that decision turn out for you guys?

Remind me how that court case came about again, and which judges voted for it?

Oh....... that's right.

A conservative group wanted to air a lying propaganda film right before the election, so they took the case to the SCOTUS.

And every single Republican-nominated judge voted in favour, and every single Democrat-appointed judge spoke out about exactly what that decision would mean to American democracy, and voted against it. Not of course, it passed 5 to 4. Five Republican judges beat four Democrat judges.

And what has happened to your democracy since that decision?

If Al Gore had taken office after he won the election, then Citizens United isn't a thing and neither is the Iraq War.

Don't let that reality make you stop and think for even one second, though. "End Corporate Personhood"? No Republican in the country is going to so much as say those words out loud in public.

🇦🇺
 

Filthy

Iowa Wrestling Champion
Jun 28, 2016
25,192
28,120
Oh, Citizens United.

How'd that decision turn out for you guys?

Remind me how that court case came about again, and which judges voted for it?

Oh....... that's right.

A conservative group wanted to air a lying propaganda film right before the election, so they took the case to the SCOTUS.

And every single Republican-nominated judge voted in favour, and every single Democrat-appointed judge spoke out about exactly what it was and what that decision would mean to American democracy, and voted against it.

And what has happened to your democracy since that decision?

Don't let that reality make you stop and think for even one second, though.

🇦🇺
corporate personhood predates Citizen United, and is a bigger problem than the cherry-picked decisions that let's you pretend that it's a Republican issue.


Who was the first Presidential candidate to forego matching funds because they were in the corporate pocket?

Which state (under which US Senator) became the role-model for corporate tax havens and personhood?
 

BeardOfKnowledge

The Most Consistent Motherfucker You Know
Jul 22, 2015
57,438
53,537
It's always funny when these topics pop up and people just voluntarily declare "No, I didn't take a high school introduction to economics class!" while they think they're making a well thought out point.
 

ConorMcGregorNutHugger

Killing Babies and Making Men Ladies
Oct 17, 2015
43,087
56,008
It's always funny when these topics pop up and people just voluntarily declare "No, I didn't take a high school introduction to economics class!" while they think they're making a well thought out point.
they didn’t have those in ontario when we went to school bruv, you just outted yourself