Jeff Booth on How Inflation Is Stealing Your Wealth

The Pomp Podcast
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Automatic TRANSCRIPT

All right. We got a lot to cover. So let's start with the basics of inflation versus deflation. How do you describe that to people. I take pretty simple outlook. Can i just say inflation is when your money is worth less overtime. Goods and services. Go up in relation to your money and deflation is the opposite. Your money's worth more overtime and goods and services. Go down in value against. You're running the entire world. That we know today exist based on an inflationary system so the money is devalued meaning that good services the price of those go up over time pretty much common knowledge right and also accepted by the majority that that is how the system should work. I think you've got a very different opinion I tend to be sympathetic to your view of the world. But maybe just describe. What are the issues with that. Inflationary system and then why you think that there's actually a different system that could be better. We've always go. You're right we've always grown up an inflationary system and it's worked well for the majority of population. My parents house went up in value They paid back that debt with cheaper money that they earned more throughout their life and so on that path it sounded like a good thing we were taught in school. Inflation is required. And this is what some of the stuff that i explored in the book but then that system is bumping up against technology them so we've always lived in his system. We measure everything from that system that were in and then that system is bumping up technology wanting to bring down prices really fast wanting to do and what does technology do whether it's a ceo that puts technology into the company. Whether it's you using technology technology does more for less right no. Ceo technology in their company to make prices go higher. They do it to give you more for less or to compete an in an open market to to drive more value to you. You use technology for the same reason and so when you add up what's happening with technology bumping into this force of inflation that that is really manmade create created manmade inflation. That you ask. How could those two systems work together.

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