Mr. Williams is spectacular, a legend. LOVE that he has the guts to put the true numbers out and make it so understandable, really appreciate him and this interview. Thank you David for having John Williams on!
#1: I love Shadow Stats! Nothing like a reality check on the "headline" information. #2: The FED has been "cooking the books" for a long time now. Every time they cook a new recipe the taxpayer goes on a diet. Thank you SS.
My salary has remain same past 3 years and spending habits are also same .. meaning no major house project or a new car .. no significant expense in last 3 years .. and my average savings per month has been going down steadily to almost balancing! Yes inflation rate was never 7% or 9%. I have some bills from 5 years ago and the same items are anywhere between 50 to 200% up! People keep pointing to Truflation site .. but those numbers are not what I have experienced. Friends echo the same.
In the real world, when you talk to the average person- food, housing and energy has gone up at least 30-50% which accounts for the majority of most family’s budgets. People are hurting.
John is to be respected and thanked. A real legend. However, I have been listening to this message of "the real data says we are all dead" since early 2014. That's 10 full years of doom not priced into the market. It's exhausting after 10 years.
Thank you for interviewing Mr Williams. Valuable information and perspective backed by statistics that explain what many of us sense...that inflation is higher than reported. Mr. Williams' explanation of shadow statistics, that differ from the economic headlines, ring true.
David. I love your work. Can't seem to find you on YTube music, Audible podcasts or Npr One. Am I at fault here or do you need to list yourself in those venues?
Inflation should also be measured, or consistently referred to, in 2- or 4-year cycles. All this year-over-year and monthly basis measurements obscure how rapidly our currency has lost value.
CPI or PPI change for each person, but if one takes a figure for poor or below middle income group figures - that would be the right inflation figure.. which should definitely come somewhere above 8% for normal years.. and above that when there is an uptik in inflation above what Govt says...we now know what govt says higher price for higher quality products is the biggest hoax.. we know a refrigerator made say in 1960 is definitely better quality products that what you can buy new in 2023.
Since John mentioned 1982 I would like to see how the change in CPI at that time looked to Volcker. How did the change in format affect the CPI then. If these changes usually resulted in lower CPI numbers in the future did Volcker use these or did he stick with the CPI method he started with? This period of inflation was something I lived through. It looks a little peculiar that some changes in CPI calculations coincided with the massive increase in interest rates. People were just sticking money in CD's and you could not finance a house unless you were loaded.There was also a POTUS election in 1984. I supported Reagan but I do remember this inflation crisis had him on the ropes, so to speak. Just interested in retrospect.
I was in my early 20’s with a stay at home wife and two toddlers . I worked 70 hours a week at my main job ; had a part time job at night and weekends AND was in the National Guard . In Connecticut , starving . One car , coin op laundry , Kero - Sun kerosene heating system , starving … Volker had interest at 20% !!!
I agree, the prices of most things has gone up 50% since 2020. My dogs food is an example, went from 80$/case to 120. But lots of things have gone up even more than that, some things over 100%. No way in hell is it only 11%.
He means 11% inflation year over year. So even if it were 11% per year since 2019, that’s only 52% total if compounded yearly. I think even that is low.
Regarding interest rates and taxation without representation. We all know that the BLS and the Fed put out flawed inflation data of at least 2% so that the debt can be reduced without directly taxing the population, which congress can't seem to get done. The discrepancy results in a hidden tax on the entire population. Since neither the populace or congress vote on the discrepancy in the inflation data, the resulting hidden tax appears to me to be taxation without representation. If so, a lawsuit should be brought to stop the process and make the BLS and Fed processes be voted on by congress in the clear light of day, with clear explanations of their processes, presented publicly to congress.
Let's talk about reality, and established entrenched embedded inflation. Trash bags I buy are *double* over two years ago! Thanks for broad light shone on true unemployed.
If I were married, I would massage my wife the way that the Fed massages inflation numbers. I can pretty much guarantee that there would be a happy ending afterwards. 😄
If they counted discouraged workers then the improvement in unemployment rate would be higher since many have rejoined the work force. The argument he makes is unconvincing.
Nope. This is a melt up so stimulus, both official and off book, will nominally increase values and that convinces morons to buy and hold. Once inflation breaks the average person then Gresham's Law takes over and hyper inflation destroys the dollar within 6 months.
Remember that markets are totally captive to money printing and fake government statistics. The situation changes when conditions for the average person are so bad they have nothing to lose.
Shadowstats proves you cannot live on social security for 30 years For men if retire at 65 need it till 78 on average so 13 years After 13 years it will be coffee money
I think Biden told on himself in that speech. "All the jobs recovered from the pandemic, plus 1 million added". So you've only created 1 million jobs? 😂
@rudeawakening3833 right, but after all the jobs recovered that were lost in the pandemic, plus an additional 1 million, that isn't 13 million jobs created 🤣
Because inflation (the expansion of the money supply) does not hit everything everywhere all at once. It takes a lot of time to work through the economy. The same is true of contractions in the money supply. It takes years to see the impacts.
Leave interest rates alone, and just drill oil instead of paying our adversaries for it. We have cleaner processes here anyway, which would be better for the environment. Oil comes down. Inflation will come down.
Hi Clifton. 👋 I enjoy your music very much. It'd be great to hear a tune about the history of the U.S. dollar. Or how about a gold or silver miner related song? Looking forward to seeing more and more of your videos. 👍
hm, I do not like the interview. He didn't explain why he is waiting for such huge inflation. I mean, he tried but his explanation is a nonsense or he is talking a lot of obvious things. idk why other ppl so excited about that interview. David, I'd like you to be more offensive in getting more clear answers from your guests ☺
Because the M2 supply is so large (the surge of money that the Fed gov. " injected" into the economy during the Covid debacle. It's a basic economic principle: supply & demand. John Williams has been working as an economist for decades. You have to have a good grasp of economics to follow his narrative. Not to diss anyone. It's a complicated subject.
@@WTHenry2023Why are you laughing, clown? First they said ‘transitory’, the herd like you did follow them. Now they claim it is going to last for years, the same (lack of) reaction. They have been consistently wrong either way.
Wealth transfer between Boomers and their children overdone. Government big winner with estate taxes. Not that much will make it to younger generations as Government will see to that. 😂😂😂
0:39: 📈 Inflation in the US has risen slightly to 3.7 percent, while core CPI has fallen to 4.3 percent, according to the latest BLS report. 5:06: 📉 The speaker discusses the impact of raising interest rates on the economy and the current recession outlook. 9:54: 📊 The speaker discusses changes made to the inflation measure and how it affects the reported CPI. 14:02: 📉 The speaker believes it is difficult to achieve a stable economy and healthy banking system at present due to contracting economy and negative indicators. 18:31: 💼 The speaker discusses the employment collapse during the pandemic and the government's changes in reporting unemployment numbers. 23:05: ! The speaker believes that the current unemployment rate indicates that the economy is already in a recession. 27:44: 💰 The government and the Federal Reserve are taking actions to stimulate inflation and increase the money supply, which may result in higher inflation and a weaker economy for the average person. 32:28: ! The speaker discusses the potential impact of inflation on the economy and the younger generations. 36:54: 💰 The speaker believes that interest rates will not go back down to their previous levels and may even increase to maintain stability in the banking system. Recap by Tammy AI
Mr. Williams is spectacular, a legend. LOVE that he has the guts to put the true numbers out and make it so understandable, really appreciate him and this interview. Thank you David for having John Williams on!
#1: I love Shadow Stats! Nothing like a reality check on the "headline" information. #2: The FED has been "cooking the books" for a long time now. Every time they cook a new recipe the taxpayer goes on a diet. Thank you SS.
This man is a national treasure
Nice job David doing this interview and bringing Williams on.
John Williams is a prophet in tracking and publishing these numbers for us. Thank you John and thanks David for having him on!
Great to hear from John. A real hero of the truth. Thank you both.
Car insurance up 25%, home insurance up 50%, house up 50% to 80% last 3 years, government said 3% and scared about Deflation 😂😂😂
What do you expect, government don't know math.
John Williams is great and an important resource for business people. Thanks for having John Williams on your show.
DAVID HAS OUT DONE HIMSELF BY HAVING JOHN WILLIAMS ON!👍👍❤❤❤🇺🇲🇺🇲🇺🇲
EXCELLENT INTERVIEW, REAL EXPERT!👍👍👍👍🇺🇲🇺🇲🇺🇲🇺🇲
Wow, this is great! I'd read about him, but have never seen an interview. Thanks for making this happen.
Great guest! David is the best interviewer in media today.
My salary has remain same past 3 years and spending habits are also same .. meaning no major house project or a new car .. no significant expense in last 3 years .. and my average savings per month has been going down steadily to almost balancing! Yes inflation rate was never 7% or 9%. I have some bills from 5 years ago and the same items are anywhere between 50 to 200% up! People keep pointing to Truflation site .. but those numbers are not what I have experienced. Friends echo the same.
John is a great man for dedicating so much of his life to putting out this data.
If measured like in the 1970s, this would be the inflation of the 1970s
Wow; the legend....thanks for great guests as always.
this man knows his thing
In the real world, when you talk to the average person- food, housing and energy has gone up at least 30-50% which accounts for the majority of most family’s budgets. People are hurting.
My wife measures this based on household essentials 50 percent over two years
With y2y CPI at 10% it only takes 4 years to elevate prices by 50%.
This guy is a legend !!!!
Indeed he s. We even know about him in the uk 😁
Thank you Mr Williams for this informative interview !!!
Great show David. More people need to hear about this and how the government is manipulating the data. Thank you.
so happy to see an interview with John Williams....... thank you, David. best interviewer & great guest.
25:00 The Average American's standard of living has been declining since the late 1960s.
John is to be respected and thanked. A real legend. However, I have been listening to this message of "the real data says we are all dead" since early 2014. That's 10 full years of doom not priced into the market. It's exhausting after 10 years.
Love your channel David!
Excellent report 👍👍👍👍👍👍👍👍👍👍😺👍😺❤
Mr. Williams is a LEGEND. Thank you for your good statistically accurate work.
Thank you for interviewing Mr Williams. Valuable information and perspective backed by statistics that explain what many of us sense...that inflation is higher than reported. Mr. Williams' explanation of shadow statistics, that differ from the economic headlines, ring true.
Great interview. Would love see some more Canadian focused content
Great questions David - good work.
Great guest and interview
Very good information.
Nevermind upstarts like Truflation, listen to the Legend that is John Williams❤😊
Havent watched yet but I've been so excited to see what this guy is about. Great idea for a guest David.
Thanks David 🥰
David. I love your work. Can't seem to find you on YTube music, Audible podcasts or Npr One. Am I at fault here or do you need to list yourself in those venues?
Thanks for sharing and surfacing the truth. 👏👍
Everything at Sam's Club is up 10 to 50 percent in the last year.
Price is where supply meets demand...
Inflation should also be measured, or consistently referred to, in 2- or 4-year cycles. All this year-over-year and monthly basis measurements obscure how rapidly our currency has lost value.
Holla homie lin . Jesus bless you
CPI or PPI change for each person, but if one takes a figure for poor or below middle income group figures - that would be the right inflation figure.. which should definitely come somewhere above 8% for normal years.. and above that when there is an uptik in inflation above what Govt says...we now know what govt says higher price for higher quality products is the biggest hoax.. we know a refrigerator made say in 1960 is definitely better quality products that what you can buy new in 2023.
He is brilliant!
David’s hair gone WILD! Lol
Legend! 🙌
👏🏾👏🏾👏🏾Good job.
What is the reserve requirement?
Since John mentioned 1982 I would like to see how the change in CPI at that time looked to Volcker. How did the change in format affect the CPI then. If these changes usually resulted in lower CPI numbers in the future did Volcker use these or did he stick with the CPI method he started with? This period of inflation was something I lived through. It looks a little peculiar that some changes in CPI calculations coincided with the massive increase in interest rates. People were just sticking money in CD's and you could not finance a house unless you were loaded.There was also a POTUS election in 1984. I supported Reagan but I do remember this inflation crisis had him on the ropes, so to speak. Just interested in retrospect.
On that note:
Arthur Burns 1970-78
Numbers and the 70s crisis numbers..
then William Miller 78-9 leading up to Paul Volcker?
I was in my early 20’s with a stay at home wife and two toddlers .
I worked 70 hours a week at my main job ; had a part time job at night and weekends AND was in the National Guard .
In Connecticut , starving . One car , coin op laundry , Kero - Sun kerosene heating system , starving … Volker had interest at 20% !!!
Great great great true Sir!
I Just came across your channel, I subscribed
Thanks and welcome!
Inflation hedge - Gold royalty company share certificates - is as close as you will get to Gold backed currency.
Worth thinking about ??
How, where? (Exchange?)
@@guestguest747 pay fiat for the shares- they get physical gold (without risks of mining), u take profit . Gold royalty Corp is very cheap at mo .
Where would I purchase the certificate
@@NooeeeNNN buy the shares - Gold royalty Corp has probably hit a bottom ~ looking very cheap at moment
@@Law-of-love it’s a better alternative then physical gold? Or this is just for diversifying
If only John Williams affected the CPI my Social Security would be a lot higher!
I think it’s higher than 11%
Finally, I hear some realistic numbers.
After months and years of 🐂💩 inflation data!
I agree, the prices of most things has gone up 50% since 2020. My dogs food is an example, went from 80$/case to 120. But lots of things have gone up even more than that, some things over 100%. No way in hell is it only 11%.
He means 11% inflation year over year. So even if it were 11% per year since 2019, that’s only 52% total if compounded yearly. I think even that is low.
Mr Williams, you are an under recognized Natio nal Treasure
YES, exactly right.
So, why n the hell is gold sitting and $hitting?
Real inflation...#shadowstats
Regarding interest rates and taxation without representation. We all know that the BLS and the Fed put out flawed inflation data of at least 2% so that the debt can be reduced without directly taxing the population, which congress can't seem to get done. The discrepancy results in a hidden tax on the entire population. Since neither the populace or congress vote on the discrepancy in the inflation data, the resulting hidden tax appears to me to be taxation without representation. If so, a lawsuit should be brought to stop the process and make the BLS and Fed processes be voted on by congress in the clear light of day, with clear explanations of their processes, presented publicly to congress.
The Best Guest 💯
Let's talk about reality,
and established entrenched embedded inflation.
Trash bags I buy are *double* over two years ago!
Thanks for broad light shone on true unemployed.
Charlie Munger at his best 👌
Thank u
If I were married, I would massage my wife the way that the Fed massages inflation numbers. I can pretty much guarantee that there would be a happy ending afterwards. 😄
If they counted discouraged workers then the improvement in unemployment rate would be higher since many have rejoined the work force. The argument he makes is unconvincing.
The price should increase but what their expenses increase
Lifetime best hair award. 🎉
Load up on PHYSICAL SILVER !
Is black Monday coming next week?
Nope. This is a melt up so stimulus, both official and off book, will nominally increase values and that convinces morons to buy and hold. Once inflation breaks the average person then Gresham's Law takes over and hyper inflation destroys the dollar within 6 months.
👀
Remember that markets are totally captive to money printing and fake government statistics. The situation changes when conditions for the average person are so bad they have nothing to lose.
Shadowstats proves you cannot live on social security for 30 years
For men if retire at 65 need it till 78 on average so 13 years
After 13 years it will be coffee money
retirement is such a bourgeois concept
@@jamesderoc6717 yes I am a petite bourgeois. Want to retire and write my novel lol
That's a scary thought.
Yep!
Hair was going to crazy in this one. 😂😂
Inflation does not go up b/c of oil, it is the other way around.
This gentleman should learn Hanke’s golden growth rate.
I think Biden told on himself in that speech. "All the jobs recovered from the pandemic, plus 1 million added". So you've only created 1 million jobs? 😂
He never has a clue what he is saying. He has lied his whole career. If you consider leaching off the public a career.
Noooooo !
He said 13 million !
Go listen again !
Bla ha ha !
@rudeawakening3833 right, but after all the jobs recovered that were lost in the pandemic, plus an additional 1 million, that isn't 13 million jobs created 🤣
@@mattjenkins682
I agree
I was being - “ facetious “
@@rudeawakening3833 gotcha, my bad. 😅 🤝
How can inflation go higher with a contracting money supply?
Because inflation (the expansion of the money supply) does not hit everything everywhere all at once. It takes a lot of time to work through the economy. The same is true of contractions in the money supply. It takes years to see the impacts.
@@WackyIraqi777 12-24 months, correct. &, when did the money supply start contracting here in US?
I think we get back to 2% inflation about as fast as we got to 5% interest rates. The people who didn’t see that coming, won’t see this coming either.
It took them about 15 years to get back to 5% so I must agree with you.
@@michieldriessen2076I don't think that's what they meant. But inflation will not stop. Fiat is dying. This is the end my friend
Your hat off to the FED?! Until when did they buy $120 billion per month?!
Fiscalflation + chinaflation = stagflation…
So many adds during this video, it's hard to keep the focus.
Maybe David had to pay this guy to be on. It’s worth it for this elder’s expertise.
Leave interest rates alone, and just drill oil instead of paying our adversaries for it. We have cleaner processes here anyway, which would be better for the environment. Oil comes down. Inflation will come down.
Too bad Western nations stopped investing in energy and started demonizing oil companies. Highly doubt this pattern changes
Excruciating bro
Just play it back faster. His perspective is totally worth it.
Brace yourselves for volatile moves everyone!
The dollar ain't 💩.
Hi Clifton. 👋
I enjoy your music very much.
It'd be great to hear a tune about the history of the U.S. dollar.
Or how about a gold or silver miner related song?
Looking forward to seeing more and more of your videos. 👍
Sorry the audio quality so bad I cannot listen this podcast .
Works fine for me, maybe it's your device.
Yes, it's fine
On your side sth bro
My audio was perfect. If you get a chance you won't want to miss this interview. : o)
1.5x
hm, I do not like the interview. He didn't explain why he is waiting for such huge inflation. I mean, he tried but his explanation is a nonsense or he is talking a lot of obvious things. idk why other ppl so excited about that interview. David, I'd like you to be more offensive in getting more clear answers from your guests ☺
Because the M2 supply is so large (the surge of money that the Fed gov. " injected" into the economy during the Covid debacle.
It's a basic economic principle: supply & demand. John Williams has been working as an economist for decades. You have to have a good grasp of economics to follow his narrative. Not to diss anyone. It's a complicated subject.
We’ll see a 2-handle on CPI this year.
🤡🤡🤡😆😆😆🤣🤣🤣
@@WTHenry2023Why are you laughing, clown? First they said ‘transitory’, the herd like you did follow them. Now they claim it is going to last for years, the same (lack of) reaction. They have been consistently wrong either way.
Come hell or high manipulation.
@@gregorysagegreene What do you mean?
Wealth transfer between Boomers and their children overdone. Government big winner with estate taxes. Not that much will make it to younger generations as Government will see to that. 😂😂😂
David, you're too young to become a doomsday nut. Watch out!
0:39: 📈 Inflation in the US has risen slightly to 3.7 percent, while core CPI has fallen to 4.3 percent, according to the latest BLS report.
5:06: 📉 The speaker discusses the impact of raising interest rates on the economy and the current recession outlook.
9:54: 📊 The speaker discusses changes made to the inflation measure and how it affects the reported CPI.
14:02: 📉 The speaker believes it is difficult to achieve a stable economy and healthy banking system at present due to contracting economy and negative indicators.
18:31: 💼 The speaker discusses the employment collapse during the pandemic and the government's changes in reporting unemployment numbers.
23:05: ! The speaker believes that the current unemployment rate indicates that the economy is already in a recession.
27:44: 💰 The government and the Federal Reserve are taking actions to stimulate inflation and increase the money supply, which may result in higher inflation and a weaker economy for the average person.
32:28: ! The speaker discusses the potential impact of inflation on the economy and the younger generations.
36:54: 💰 The speaker believes that interest rates will not go back down to their previous levels and may even increase to maintain stability in the banking system.
Recap by Tammy AI
Legend