The economy is returning to a 1970s era of higher inflation, potentially reaching double digits, said Mark Skousen, editor-in-chief of Forecasts & Strategies.
Speaking to David Lin, anchor for Kitco News, Skousen’s comments come as CPI data released Tuesday showed 5.4% annual inflation in June.
0:00 – Headline CPI
2:00 – Used cars and trucks
3:20 – ‘Black Swan’ events
7:17 – Real wages
9:35 – Inflation expectations vs age
10:40 – Tech stocks vs inflation
13:58 – Freedom Fest
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Double digit inflation is here now. This will be much worse than the '70's inflation.
Ain't that a kick in Joey pants.
Ayan Hirsi Ali, is he joking; that woman is a total fraud. this man is bonkers
BoomerFest. Bring your $GME.
Hurry people buy gold and silver
Lockdowns, masks mandates, vaccines or none of that were ever anywhere near justified, it's a standing disgrace and I hope there will be a legal follow up!!
FREEDOM!!
I used to like Kitco…but for the past 6 mos, their entire narrative has been fear mongering. And they've been woefully incorrect for all of 2020-2021
Oil prices in the 70s cranked up bc the dollar went to the basement. See Nixon shock, Bretton Woods, etc.
Why have yields sold off?
Inflation is a government caused tax on lower and middle class. Thanks to the democrats out of control spending to enslave Americans.
I couldn't help imagining David in Skousen's hat and Skousen with Davids hairstyle
We all know inflation is much higher than they report.
The fed is like trump, a lier.
The old oligarchs pumping their own bags. Trying to FUD bitcoin and gold + other alternatives to the dollar.
Nice Mohawk.
Is it true that 1/3rd of the spike in CPI was due to higher used car prices?
Yeah sorry to say but this guy sounds like a fool saying that the technology sector is going to be the savior??? Tech is insanely overvalued.. might have worked in the 70s because tech was way undervalued I'll stick with gold
Facebook, Amazon, Netflix, Google, Wall Street, Fed all FREE. The point of Big Tech is evict sitting Presidents, censor sitting presidents, and install bureaucrats, brain dead, amnesia stupid leaders to expand globalism and the 1%.. Interesting.
I think David Lin is a Morrissey fan.
Mark Skousen. Older than dirt. Talked to Mark at a 1980 Howard Ruff seminar. Always a delight. Interesting view. Thanks Mark. A real slave to fashion.
Hey, David, great questions as always!!!
Much worse than the 70s. Higher inflation with more non productive debt. Worst possible , most irresponsible people in government. Every agency rotten to the core. Alternative energy, esg frauds. Rare earth mining for 1500 pound batteries. Masdive inflation, purchasing power destruction coming. Central planning only causes mass starvation and poverty, never prosperity
Lousy journalism , and lousy professor , he says one has to wonder why precious metals aren’t performing , and that’s it , context omission onto the next thing , why don’t you have Bill Murphy on and he’ll explain how price precious metals are determined in the derivative market , Kitco is a joke
Kitco news is fake news but it hasn’t been completely found out yet
Don't like tech valuations,
A psychopath doesn’t have a conscience. If he lies to you so he can steal your money, he won’t feel any moral qualms, though he may pretend to. He may observe others and then act the way they do so he’s not “found out".
A sociopath typically has a conscience, but it’s weak. They may know that taking your money is wrong, and they might feel some guilt or remorse, but that won’t stop their behavior.
We are actually in one of the best times of history, no major world wars, tech boom, better medicine, ai, rising gdp, we ain't perfect but we getting there. 1970s were looking for another major war n recession. Now we are looking for another inflation. It all came back but it wasn't so bad. Maybe it won't be so bad
The hat and shirt has his credibility plummeting.
Technology stocks could be getting hammered soon. The Nasdaq may have topped and is pulling back now.
the cpi would be in the 30's or 40's if they used the same metric from the 1970's
I think he should think twice when he talks, he is too contradictory. He doesn't like tech , he has a large position in tech as we'll see inflation and tech is the only one responding well. Gold will teach you a lesson professor!
Who wears a hat inside for an interview?
loumpia and grandpa … nice combo
At last someone on here thats been around long enough to talk about the 1970's
Inflation is there in every country in world.
But all leaders and central banks openly LYING to its own people
Buy raw land in the states people are fleeing to.
I lived through the 70s and I remember gold and silver went to the moon. I expect history to repeat itself soon.
Milton Friedman belongs on Mount Rushmore.
Grover Norquist… where was this “the sky is falling” doomsday end of times preacher when Trump blew US spending out of the water during a non recessionary, low unemployment rate environment… guy was crickets for the entire administration. Total embarrassment.
After hearing who’s attending this guys “freedom fest”, I can pretty much ignore everything he said.
We are already in double-digit inflation, the Federal Reserve just doesn't want to report the truth.
here is my black swan…when usa unemployment reaches 9 to 10 percent, then you will see a major market crash…but until then, don't listen to the doom and gloom pundits.
I have managed to push my phallas into David and literally fiscally stimulate his prostate. While I was inside I determined that he is 100% accurate with his predictions.
History repeats because human nature is a constant. Weimar, Zimbabwe, Venezuela. You cannot print your way out of trouble.
gold is good, silver is amazing
Completely different time period of 1970. US has much more Debt (deflationary), avg age of baby boomer is over 60 (deflationary as old people spend less, velocity of money is much lower than 1970 and finally massive technological advances to 1970 that increases output & lowers prices (deflationary). This is pure supply chain issue that will show up as short term inflation. Deflation long term is much bigger issue.
Just use the Big Mac index. Surely if this guy thinks a BigMac will be worth and Oz of Gold soon, then the entire world has become hypothecated!
yeah the FED's policy of inducing recessions to "manage inflation" (side benefit limit wage growth) brought us to this point of near total dysfunction and economic collapse. Go back to 1987 and look at every fed-induced recession thereafter. My point being that IT DID NOT WORK in the long run – it is an abysmal practice.