The Ugly Truth About Inflation (And Why It’s Ruining Your Financial Life)

The Financial Diet

TFD

Business

4.3 • 548 Ratings

🗓️ 15 May 2023

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the second episode of Too Good To Be True, hosts Ryan Houlihan and Julia Lorenz Olson break down the history of inflation, the cost of living crisis, and why everything suddenly feels financially so much harder than it did just a few years ago. Too Good To Be True is a miniseries exposing the scams, schemes, and financial cults trying to separate you from your money. New episodes drop every Monday on our YouTube channel as well as on your preferred streaming platform. The Financial Confessions will be back on Monday, July 10th! Catch up on season one of Too Good To Be True: https://www.youtube.com/watch?v=ZsgcAGtdkRY&list=PLD30V46E07RQlQZ5Nq6tUaHKlZbysKijH Follow Ryan on YouTube: https://youtube.com/@ryho. Follow Julia and Two Cents here: https://www.youtube.com/@TwoCentsPBS Juliana Kaplan https://twitter.com/julianamkaplan ***** THE SOCIETY AT TFD Join our membership program, The Society at TFD to get exclusive ad-free bonus content + access to tons of other perks like our members-only book, your personal money questions answered, discounts on TFD events, and more! Join on Patreon: https://www.patreon.com/FinancialDiet Join on YouTube: https://www.youtube.com/channel/UCSPYNpQ2fHv9HJ-q6MIMaPw/join MORE FROM TFD The Financial Diet site: http://www.thefinancialdiet.com Facebook: https://www.facebook.com/thefinancialdiet Twitter: https://twitter.com/TFDiet Instagram: https://www.instagram.com/thefinancialdiet/?hl=en

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to Too Good to Be True, an investigative podcast about exposing the scams, schemes, and financial cults trying to separate you from your money.
0:20.6	I am Ryan Hulahan, a journalist, drag artist, and
0:24.1	YouTuber in New York City. Hi, and I am Julia Lorenz Olson. I am an accredited financial counselor
0:30.7	and the creator of PBS's Two Sense on YouTube. So what economic word have you heard the most this year?
0:41.9	Elon Musk. Just kidding. Inflation. Bingo. And do you know what your prize is? Oh God. What is it?
0:50.3	Higher rent. Yay.
0:53.3	$8 for a pack of eggs at the store.
0:58.0	Right?
0:59.0	So I like how the term is also a description, right?
1:03.5	To inflate.
1:04.6	Yeah.
1:04.9	What is getting bigger?
1:06.6	Prices.
1:07.5	And just for people in case they don't have any background, I don't have any background in
1:12.0	this. The technical definition of inflation, according to Jason Fernando of Investopedia, is actually,
1:17.9	quote, a rise in prices which can be translated as the decline of purchasing power over time.
1:23.7	Inflation can be contrasted with deflation, which occurs when prices decline and purchasing power increases.
1:29.3	The U.S. Bureau of Data Statistics, which is just a group of experts, releases something called a market basket once a month.
1:37.8	This basket is basically a virtual shopping cart filled with goods and services that people usually need to buy.
1:45.3	So if you imagine comparing the price of the item in that basket today to the price in the past, if the prices
1:50.9	have gone up, that's inflation. So to measure inflation, those experts use the consumer price
1:58.6	index, which is like a scorecard that tracks how much the prices of
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from TFD, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of TFD and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.