567 - Coronavirus Economy Update: What’s Happening Right Now with Economist Tyler Cowen

The James Altucher Show

James Altucher

Society & Culture, Talk Radio, Writer, Philosophy, Comedy, Chess, How To, Entrepreneurship, Jay, James, The James Altucher Show, Altucher, Author, Jay Yow, Education, Jay The Engineer, Business, James Altucher

4.6 • 2.7K Ratings

🗓️ 30 March 2020

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

People are starting to lose jobs. And gigs. And become uncertain. Uncertainty brings up fear. Which is a pandemic on its own. I keep saying, "Prepare. Don't Panic." And so do my guests. So today, I interview economist Tyler Cowen. I ask him about the stimulus package, the job market, inflation, deflation, supply and demand, what the world will look like if people keep losing work. How we can get back to work. When is it safe? Flattening the curve, and more. And if you like this update, please let us know. So we can keep bringing you information that spreads peace. Over fear. Thanks - James I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to “The James Altucher Show” and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify Follow me on Social Media: YouTube Twitter Facebook Linkedin Instagram

Transcript

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0:00.0	This isn't your average business podcast and he's not your average host.
0:06.6	This is the James Altiger Show.
0:12.6	Today on the James Altiger Show.
0:15.4	How does the Fed actually pay for this?
0:18.0	In a best case scenario, how do we avoid the accusation of inflation, like a Zimbabwe
0:22.9	style inflation or even German, Germany 1920 style inflation?
0:27.3	The problem when you kind of both print money on the Fed side and borrow money on the stimulus
0:32.7	side is that people could lose faith in the dollar worldwide and we experience inflation.
0:38.0	Well right now there's two different things going on at once.
0:40.8	The first is that just the supply of goods and services is falling, right?
0:45.4	People aren't producing as much.
0:46.6	That tends to raise prices.
0:48.2	The other problem is that demand is falling.
0:50.4	We're not earning as much, not spending as much or hoarding cash much more.
0:54.5	That tends to lower prices.
0:56.4	But we don't know which of those will be the stronger force.
0:59.5	It could be there's a great danger that we have deflation and prices fall too much.
1:03.8	I would say if the Fed ends up creating a higher than expected rate of inflation, that's
1:08.2	actually a sign we've succeeded, that the deflationary scenario is worse.
1:12.8	No one wants to hear this, but I'm rooting for a higher rate of inflation.
1:16.8	It would mean that we did not have a total collapse.
1:19.0	I guess you want to avoid it ever spiraling.
	...

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