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This Is Hell!

Inflation politics / Rob Larson

This Is Hell!

This Is Hell!

News

4.9937 Ratings

🗓️ 27 October 2021

⏱️ 90 minutes

🧾️ Download transcript

Summary

Economist Rob Larson on his Current Affairs article "How Serious is the Inflation Situation?" and in a Moment of Truth, Jeff Dorchen decodes a MAGA secret. https://www.currentaffairs.org/2021/10/how-serious-is-the-inflation-situation

Transcript

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0:00.0

I'm not going to die for you.

0:02.0

What is your face and you're going to stick around.

0:05.0

I'm going to stick around.

0:07.0

What is what? Pick it back! Get back! This is hell. price of everything but the value of nothing. This is hell everybody's freaking

0:48.1

out about inflation right now several times in the past few weeks the New York

0:52.0

Times has run headlines like

0:53.6

new price spike pose challenge to White House and an inflation that erodes

0:59.3

convenience a story that argues that the concerns over inflation may be understated.

1:04.8

I even saw an editorial cartoon in a small town newspaper over the last week where Joe

1:09.9

Biden is standing at a lectern and behind him looming over him, massively standing

1:16.1

over him is the stay puff marshmallow man from ghostbusters but on his

1:21.4

sailor cap it says the word inflation. But as our guest today

1:26.3

will argue in fact those concerns are likely over-exaggerated and part of

1:30.9

the reason is a misunderstanding or a complete lack of

1:33.7

understanding of exactly what inflation is and what causes inflation

1:38.7

despite what the right would have you believe massive government spending does not cause inflation.

1:44.7

The rights said the massive bailout following the 2008 crash would cause surging inflation,

1:49.7

yet it never happened.

1:51.2

Again in 2014 when the Obama administration spent more money

1:54.4

stabilizing banks, the right cried inflation, but nothing ever came of it.

1:59.8

Conservatives of every stripe are yet again trotting out the government spending causes inflation trope

2:06.5

when it comes to the pandemic and infrastructure. So what really causes inflation?

...

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