Dec 28, 2021
Summary:
Simple things like day-to-day shopping trips make us aware of the
fact that supply isn’t caught up with demand; worker shortages and
inflation are increasingly changing many things for consumers and
people.I sit down and chat with George Gammon to discuss these
shifts that have historically altered the social order. Ultimately,
we see that it is important to view wealth in terms of goods and
services rather than in terms of tangible money where its value is
constantly changing. Tune in for more.
Highlights:
-Many shelves are empty in Whole Foods; supply isn’t caught up with
the general demand
-This is what happens as a result of lockdowns and people staying
home—there are labor shortages, and this disrupts the supply
chain
-This also causes prices of everyday goods to go up
-Ultimately, these effects make us more aware of the current state
of the economy
-These types of changes in the past gave way to the dissolution of
the nuclear family
-Inflation undermines the underpinnings of the social order
-People fail to realize that prices can also crash up
-It’s important to look at wealth as goods and services rather than
just dollars
-Purchasing power is the ultimate arbiter of your true wealth
-Inflation also leads to reduction of the savings rate—there is
less incentive to save
-People have different conceptions of wealth which creates
disagreement around whether the government should distribute more
money or not
-Wage and price controls are inevitable
-Price control appears to be the path of least resistance,
especially in terms of politicians getting re-elected
Useful Links:
Financial Survival Network
George Gammon YouTube
The Rebel Capitalist Show
Live Stream Q&A with George
Gammon
The Day Capitalism Died – Robert
Kiyosaki, Kim Kiyosaki and George Gammon