Politicians don't care about inflation | Reason Roundtable | May 6, 2024
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- Опубликовано: 28 май 2024
- In this week's The Reason Roundtable, editors Matt Welch, Katherine Mangu-Ward, Nick Gillespie, and Peter Suderman assess the mismatch between Americans' lingering concerns over inflation compared to politicians' failure to address it.
00:00 - Americans still care about inflation.
16:49 - Donald Trump to speak at Libertarian Party National Convention
41:08 - U.S. House of Representatives passes the Antisemitism Awareness Act
50:24 - This week's cultural recommendations
Mentioned in this podcast:
"Americans Are Still Really Worried About Inflation," by Eric Boehm
"COVID Stimulus Money Lined the Pockets of Scammers and Fueled Inflation," by J.D. Tuccille
"Inflation Is So Back," by Eric Boehm
"Inflation Returns!" by Peter Schiff, Jeffrey Rogers Hummel, Scott Sumner, Randall Parker, James Grant, Steven Gjerstad, Vernon L. Smith, and Donald Luskin
"Biden Is Clueless About Inflation," by Nick Gillespie and Regan Taylor
"How Biden's Agenda Is Causing Inflation," by Nick Gillespie
"Who's Really To Blame for Inflation?" by Jonathan Bydlak
"L.A. Beats NYC?" by Liz Wolfe
"Mises Caucus Takes Control of Libertarian Party," by Brian Doherty
"David Boaz on Libertarianism, Ronald Reagan, and the 2024 Election," by Nick Gillespie
"Inside the Mises Caucus Takeover of the Libertarian Party," by Zach Weissmueller and Nick Gillespie
"'By Our Fruits, You'll Know Us': The Mises Caucus Mastermind," by Zach Weissmueller and Nick Gillespie
"Justin Amash's Vision for the Libertarian Party," by Nick Gillespie and Zach Weissmueller
"Ron Paul Revolution 2.0: Angela McArdle's Plan for the Libertarian Party," by Zach Weissmueller and Nick Gillespie
"Dave Smith: Comedian, Podcaster…Presidential Candidate?" by Nick Gillespie and Zach Weissmueller
"Biden Announces Second Attempt at Widespread Student Loan Forgiveness," by Emma Camp
"Mike Rowe Wants More Philosopher-Welders," by Nick Gillespie
"Should We Forgive Student Debt?" by Nick Gillespie
"Are Millennials Responsible for Their Own Student Debt?" by Nick Gillespie
"The Immorality of Student Loan Forgiveness and Free College," by Nick Gillespie
"The Antisemitism Awareness Act Will Make It Illegal To Criticize Israel on Campus," by Robby Soave
"Bipartisan Legislation Would Let the Government Create Speech-Chilling 'Antisemitism Monitors,'" by Emma Camp
"The Fall Guy Is a Crowd-Pleasing Homage to Silver Screen Stunt Work," by Peter Suderman
"A White Woman's Documentary About Muslim Extremists Is Being Canceled. Guess Why." by Robby Soave
"How Facebook Gender Identity Is Like Pop-Tart Sushi," by Nick Gillespie
Nick Gillespie interviews Students for Sensible Drug Policy's Kat Murti in New York City on May 8
Send your questions to roundtable@reason.com. Be sure to include your social media handle and the correct pronunciation of your name.
Today's sponsor:
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Audio production and video edit by Ian Keyser.
Music: "Angeline," by The Brothers Steve
Producer: Hunt Beaty
Inflation comes with equivalent market chance if you are early informed and well-equipped. I've seen folks on verified posts that turned millionaires amid economic downtrend, and pull it off easily in a favorable economy, it all boils down to proper asset allocation.
I'm still trying to strip every decision of emotion.. no doubt many successful investments are built on no more than an advisor's hunch
Right, a lot of folks downplay the role of advisors until burnt by their own emotions, no offense. I remember 3 years ago, just after my awful divorce, I needed a good boost to keep my business afloat, hence researched for advisors at once. Thankfully, I came across one with grit, helped to grow my reserve notwithstanding inflation, from $350k to nearly $1m as of today.
this is encouraging, a newbie like me would definitely need guide to achieve such financial milestone.. mind if I look up the professional aiding you please?
The advisor that guides me is Katherine Nance Dietz, never met anyone with as much conviction as her, and luckily she has a noticeable profile on the internet, you can verify.
I'm glad to read this, just googled Katherine Nance Dietz and was able to spot her consulting page, incredible profile... thanks for sharing!
Of course they don't, they won't suffer as a result.
That is the most wonderful explanation of tuition prices that I have heard in the last 5 years. The price is set for maximum federal dollar capture, it is what the federal market supply dictates for tuition prices. In other words as a giant scam.
I've seen a few Ev chargers...lol
All that's missing is the Eevee vehicles....lmao
I found myself laughing several times at this one. Thanks you all.
I feel like I've been kicked in the groceries...
Inflation is a tax.
From Feb 2020 to March 2022 the M2 money supply spiked from 15.4 trillion to 21.7 trillion. That's about a 30% jump. It just so happens that my groceries typically cost about 30% more now. Much of this was to pay for the stimulus nonsense.
This does have a use. It gives us a sense of the value what $6 trillion is. Now consider our $34 trillion debt. Assume that was paid off in the same manner. Our currency and country would implode in a few hours. That debt is like a timebomb that no one wants to touch.
If the money printing wasn't a primary factor, we wouldn't need high interest rates! We probably wouldn't be able to survive the high interest rates if the money hadn't been printed.
Politicians do care about inflation, just not the inflation that they individually cause.
"It'$ ð inflayshun, 'tupid"😂😮
Sodium Pentathol?
Instead of “the year of our lord”, we could use “here, in the 24th year of the Willenium…”
These guys really butt hurt about the Mises Caucus
Because the Mises Caucus is a shit show
It is just sad. This was the one cycle that the Libertarian party could have made major strides. All we had to do was put up a candidate who was under 75 yo, somewhat articulate, and explain how Libertarian policies would solve or at least help with the issues of the day. I am not even upset about Trump speaking. The leadership has run the party into the ground. From where we are now, at least we will get some coverage with Trump. Maybe the next generation can move the ball forward.
I'm afraid there's a reason that didn't happen. Libertarian policies are fantasy, just like utopian socialist policies.
Rainy weather damaged crops
This is a simple choice for President in 2024: big government vs. big government. If he wins, Trump will golf, borrow money, and spend - just like he did in his first term.
If only Harry Browne was elected. Never vote R or D.
@@kylewatson5133 The LP and the rest of the libertarian movement are a bunch of sad sack unherded cats. I've never seen a more correct and proper political ideology so badly botched in terms of messaging/politics.
@@kylewatson5133 Someone, or something, is deleting my replies. Grrrrr...
@@TheLoyalOfficer it's youtube, their sensors are ridiculous, hot garbage.
@@kylewatson5133 All's I said is that the LP is an embarrassment and I have never seen better ideas so poorly advocated politically.
They caused it...
The most important thing the Libertarian Party can do is try and stay as fringe and irrelevant as possible. If Trump shows up to the convention then there will be a huge media focus on the party, and that’s the worst thing for keeping the party hidden from mainstream politics.
No trophy for third place. And to talk about the failure to capitalize on being the protest vote in 2016 is hilarious.
@@archstanton3931 Imagine if the Libertarian Party was willing to concede we’re not soon, if ever, to win at the federal level, but instead coordinated the party in such a way that we decided elections. Between an average Republican vs a bad (by definition) Democrat does a true Libertarian really care who wins? But if we could gain significant concessions, from either the Republican or Democrat, and sway the vote by 5%, we could have real behind the scenes influence.
Of course the US wasn’t designed for a parliamentary type system, but with competent leadership at the head of the party we could achieve some libertarian goals without having to surmount the impractical and near insurmountable obstacle of winning national elections in the short term.
If this were to ever happen and people realized that libertarian principles were not only possible but also favorable then it could be sold that we should skip the middleman and just vote for the Libertarian.
@@merkazoidduff7651 Trouble with that theory is the idea that Libertarians will vote according to the LP's endorsement. A chunk might, but getting enough individualists to vote according to a grand strategy instead of their own perceived lesser of two evils is an uphill climb, and I don't honestly see it working out. Free state project is probably the most likely hope for political influence - in a state that's already pretty cool.
Honestly, I don't see a practical political purpose for the LP. As you've stated, US system not designed to be parliamentary. To acquire and then destroy power, best hope is ditching the LP & being a significant caucus within either party, or both parties.
Reduce government spending and decrease regulation and intervention , interest rates aren’t the only thing that can be done to slow inflation.
Politicians don't care about inflation that's why you need to STOP PAYING TAXES!
Politicians are partly to blame, but you fail to place the blame where it belongs, with the people. The people always ask for inflationary policies, the people always kick out the person who tries to fix things except for Reagan, but he was just expanding a policy that already got Carter kicked out of office
Neither do employers
Just got put on hourly cause of the new federal salary laws. Very dumb, cause I usually end up working 70 hours a week, but hey if they want to pay 17 an hour instead of just going with it...not my fault they can't count 🤷
Politicians love inflation because it allows them to make more promises and give more handouts. They can also criticize inflation and purport to be the saviors against the "evil businessmen" that are raising their prices.
I'm always surprised how gullible the population is about inflation and the government blaming businesses.
I got caught in the grad school trap with student loans and am now in the no experience no job cycle. Working retail management now competing against peers twenty years younger than me.
Dave Smiths take is probably a bit better Nick...which is, the most famous person in the world shining light on your party...
Is it true that the money created in 2020 was more than what was created in the other 244 years?
No they care, because inflation = increase of their wealth.
90% of the American public doesn't care about Inflation.
If they care about the high cost of groceries, gas, and houses, then they care about inflation. Maybe they don't realize it or know to call it that.
??? What? I'm f**king terrified of it.
Poorly conceived headline because politicians care deeply about inflation. They love it and need it to be HIGH!
The national debt is unpayable unless inflation causes $23 trillion to be worth much less tomorrow than it is today.
What is Aleppo?
You guys know nothing about student loans or how the price of tuition is calculated by a university or college institution. Those prices are in elastic and not based on demand. Regardless of demand the price goes up and never goes down. Your entire thesis about readily available loans driving cost higher because they can is absurd. It's false.
Easy money seems like an obvious cause of inflated tuition. We don't really know what tuition prices would do if easy loans were turned off.
Remember, administration has tripled at Universities as teaching faculty has not grown. That's a sure sign of artificial bloat.
If the number of enrolled students falls then I suspect eventually Universities would need both to cut back on useless bureaucracy and lower tuition to be competitive.
However, considering the massive endowments that many of these Universities have and their "woke" mentality, I suspect they would burn through all their cash before they reduce bureaucratic fat or lower tuition. That could take decades.
I couldn't disagree with the Roundtable more about inviting Biden/Trump/RFK Jr to our convention. Normally, our presidential nominating convention is less significant than Trump farting in court. Libertarians tend to ruminate about freedom and liberty and continuously criticize government overreach. This strategy essentially has no impact on government policy and societal opinions. Reason writes lots of articles every week that effectively criticize government actions. Their articles are largely reactionary. There seldom are articles about what a libertarian society would look like. We need to do significant things in order to get more attention on our party/movement. The LP, on the whole, has essentially achieved nothing since its inception. Increasing our presidential vote by a percentage point or two by running a neolibertarian like Gary Johnson along with a moderate Republican like Bill Weld, simply because they were ex-governors and the 2 major party candidates were viewed as having big negatives, essentially didn't do anything to advance the party.
We need to get more attention on our candidates and libertarian principles and policies. As of time of this comment, RFK Jr has challenged Trump to a debate at our convention. I doubt Trump will accept, but it's good just to have them there. Ideally, we would select our candidate for pres and then he/she could debate Trump and RFKJ.
And how exactly is giving Trump a platform going to help anyone but Trump? The media is not going to care about the Libertarian debate, they will only care about Trump's speech, with its location being a footnote.
All inviting Trump does is reinforce the idea that libertarians are just wayward Republicans who don't even believe in the ideas we are espousing, since the party is practically endorsing someone who is about as anti-libertarian as they come.
@@shaun7142 At least the national media will talk about the LP convention. Normally, they don't.
@@TugHillGuy Ron Paul got libertarianism out there by being ideologically consistent and speaking to American issues, not by begging for media attention by promoting someone like Trump.
Contrary to popular belief, not all press is good press. Practically endorsing an anti-libertarian candidate is a terrible look to begin with. Combine that with what will undoubtedly be a softball interview that let's Trump rant, rave, and lie, it just makes the party look pathetic.
@@shaun7142 Why do you think inviting Trump is practically endorsing him? RFK Jr will be speaking at the convention as well. Are we practically endorsing him too? I simply see them as a means to gaining some attention to our convention/party. Ron Paul got libertarianism out there because he ran as a Republican for pres in '08 and '12. When he ran in 1988 as a Libertarian he hardly got any interest outside the LP despite running on nearly precisely the same platform as he had as a Republican. He was relegated back then to appearing on clownish programs like the Morton Downey Jr show.
@@TugHillGuy First of all, it's not just the invitation, it's the Chair of the national convention talking him up as a candidate, and printing merch that places ideas that Trump has never stated, but will appeal to many libertarians.
Second of all, the Mises Caucus and their ilk regularly talk up Trump and his ideas, including paroting his election denialism among other things. So don't act like the idea of the LP promoting Trump is some shocking idea.
Third, all the LP has done is give him a platform to tell his lies. They don't have a LP candidate to promote, they don't have a platform to push, they have nothing to sell, and the media isn't going to care about anything but Trump to begin with. This whole thing is a platform for Trump, and it does nothing for the LP, except those people who want Trump to be elected.
> I simply see them as a means to gaining some attention to our convention/party.
... by talking up an anti-libertarian candidate who who seeks to push an authoritarian agenda.
Trump is not a libertarian, and he has no significant libertarian leanings, so his speech is not going to help the LP. The questions that get asked are going to be screened by the Trump team, and he is going to be prepared for all of them (as is standard for this kind of thing), so that will be another softball "interview" that will also do nothing for the LP. So where is this value? The fact that the LP will get mentioned in passing? If that's what the LP has been reduced to, then they might as well pack it in because that is just plain pathetic.
Again, not all press is good press, and at best you could call this pathetic attention seeking. However, I'm more inclined to say that the MC is getting what it wants. They have stated they have no interest in the national elections, and instead want to focus on local elections, and since they tend to align with Trump, they are using this to promote him.
> Ron Paul got libertarianism out there because he ran as a Republican for pres in '08 and '12.
No, he got out there by being elected, and using his platform to speak about libertarian ideas. He didn't get it out there by promoting people like Trump. And that's exactly what the LP is doing.
What kind of nonsense is this guy talking about? Of course politicians care about inflation. They create it to finance their careers. Where do you think fiat to fund their actions comes from, lol? Every goverment wants inflation, its what they use to finance and control everything.
Perhaps no subject is as important to mankind as the nature of money, which has been so neglected and misunderstood in both the popular and professional mind, to the great detriment of the intelligent and just operations of societies. If it wasn’t for politicians and central bankers finding it impossible to resist either using currency as a tool for economic management or simply as a source of funding government spending, the distinction between money, which evolved into gold and silver through market forces, and currency, always a creature of the state, might not matter.
"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt." - John Adams (1735-1826)
“There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction and does it in a manner which not one man in a million is able to diagnose”. - Vladimir Lenin (1870-1924)
If politicians had to worry about inflation and used money, there would be no politicians, only statesmen. Don't worry politicians not only care about inflation, its their whole lifeblood. Scratch any issues and all roads lead to fiat, the land of inflation.
0:58 "I, on the other hand, am pro-dog."
Then you're anti-human. At least we know where your allegiance lies.
🙄
I don't think politicians can do anything about it. Corn aint very high.. im not convinced... Any fast food meal is over $10... But i think its labor... Meat... $1 sour cream