Recorded in Tampa, Florida, on February 17, 2024.
Special thanks to Liberty Villages and the Shrader family for sponsoring this event.
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Inflation is a complex economic phenomenon that can have wide-ranging effects on individuals, businesses, and governments. While inflation is often seen as a negative force that erodes the purchasing power of money, there are some groups that can actually benefit from rising prices. One economist who has explored this issue is Thomas J. DiLorenzo.
Thomas J. DiLorenzo is a prolific economist and author who has written extensively on topics such as inflation, money, and monetary policy. In his work, he has argued that inflation can have both winners and losers, depending on how individuals are positioned in the economy.
One group that can benefit from inflation is debtors. When prices rise, the real value of debt declines, making it easier for debtors to repay their loans. This is because the amount of money they owe remains constant, while their incomes increase with inflation. For example, if someone took out a mortgage for a fixed amount, as inflation raises the nominal value of wages, the relative burden of that mortgage decreases, making it easier to pay off.
Another group that may benefit from inflation is those who hold assets that increase in value with inflation. For example, real estate and stocks often increase in value during periods of inflation, as their prices are influenced by rising prices in the broader economy. In this sense, individuals who own these assets may see their wealth grow as a result of inflation.
Lastly, governments can also benefit from inflation as it allows them to reduce the real value of their debt. By inflating the currency, governments can effectively reduce the burden of debt repayment, as the value of the debt is eroded by rising prices. However, it is important to note that this benefit comes at the expense of the citizens, as their purchasing power is diminished.
In conclusion, while inflation is generally seen as a negative force that erodes the value of money, there are some groups that can benefit from rising prices. Debtors, asset holders, and governments are among those who may see some advantages from inflation, although it is important to consider the broader impact on the economy and society as a whole. Thomas J. DiLorenzo’s work sheds light on the complex dynamics of inflation and its effects on different stakeholders in the economy.
Everyone needs to talk about this. It’s the people we are not allowed to criticize
Generally agree with him, but his “facts” on Wall Street bailouts are incorrect. The government didn’t eat the loses. The companies paid loans back with interest.
The question is not the correct one. The correct one question is "who is benefiting from money printing?" (Money printing under various names).
Who benefits for Userry….humm…the J… Do not give them ideas anarchist but not communsit party
What you folks need to realize is that banks do not loan dollars.That would be illegal.
Enemies are good because then you can prop yourself up through the opposition. Everyone needs enemies in order to get support.
Are government is worth less!!!!!!!!!!
actually, it's much worse than that
Socialism is a loser philosophy that benefits the few
The Fed and the World Bank exists to maintain US hegemony. Increasing money supply is to geopolitical. Cold War 2.0 has created a narrative to support and fund proxy wars, at the expense of average Americans. European allies have become a vassal to the US,at their own peril; killing their economies for perceived NATO protection.
The neo-liberal "uniparty"
supports wars that protect the current "world order". US hegemony.
No thought is given to the awful predicament of average Americans. Narrative (brainwashing) is always planned to "sell" the next war, we'll be shamed into supporting for fear of seeming unpatriotic.
The woke smokescreens keep our eye off the real ambitions of Washington.
The resurrection and criticism of "woke" is a diversion tactic that has dangerously driven identity politics and current extreme polarization.
The better question is what group runs the banks and the government that colludes with the FED? Why is usury the preferred “strategy” of the West?
There’s an excellent book that covers this subject. It’s called “Death by Socialism” by J. M. Rock. I just read the e-book and I highly recommend it.
The FED lowered its inflation objective to less than 2% in 2012. They changed the target to a long-term average of 2% inflation. Because long-term interest rates are set at inflation plus a profit margin, the implication is lower interest rates. I consider the current rising interest rate to be a very serious issue it will cause more investors to withdraw from the market. But then despite the severe bear market, I am aware of certain investors that continue to earn over $365,000. Wish I could accomplish that.
Look up Fed employees. What he says isn't true.
Good ideas, but poorly organized as a presentation.
M2 money supply has been going down, Powell has engaged in QT all year during the election year. This guy speaking is a known White Supremacist who has criticized Lincoln, argued for Neo-Confederate secession, and is constantly pitching “big government is the root of all evil” conspiracies under the guise of false intellectualism that is more akin to a con-artist when you peel back the onion on his “theories” that hold no muster.
The take on Paul Samuelson really crackled me (11:04). It's amazing how a Nobel Prize winner in Economics could say something laughable and stupid and codified it in an Economics textbook to be taught in universities, even the Ivy Leagues. On top of that, Samuelson is graduate school professor in Economics at MIT. Imagine what kind of economists, with twisted & distorted view on economic realities were produced, FED (pun not intended) with Samuelson's flaky textbook.
"Fascism" – a totalitarian political movement linked with corporatism.
I get learn a great deal from Prof. DiLorenzo's talks.
Who Benefits from Inflation?
THE ROTHSCHILDS BANKERS!!
Whoever is behind woke gives out lots of goodies to their supporters, plum jobs, sinecures and prestige. What does the right give their patrons? There are a lot more people who will do anything for money than who cannot be bought.
Man I love this dude. Calls it like it is. Plain English. Some humor.
Tom mentioned the movie "The Big Short" the lingering question at the end of the big short and they ask it like 5 times is how are the accountants allowed to keep these banks running when all their assets are garbage? At the end of this video, Tom says the list of things the federal reserve regulates, and wouldn't you know it, I heard "financial reporting procedures and accounting". The fed is allowing this creative accounting today as well as long as they don't go illiquid like the california banksk
The banks and employers of course
Tom, please post more often 🙂
I love Dr. DiLorenzo so much. What a wonderful man at the helm of the Mises Institute.
Austrians, correct me if I'm wrong, but I think the Fed is being short sighted.
If they really took a long term approach, NO one, not even them, benefit from inflation. As no one benefits from any plunder, in the long run.
Plunder discourages production and is ultimately self-defeating. It is only short-sightedness OR a desire to purposefully crash everything to the ground that can motivate people to plunder – inflation or otherwise.
I believe this is what Bastiat talks about in Economic Harmonies or as Ayn Rand puts it "there are no conflicts of interest between rational men."
"For this essential acceptance [consent of the majority], the majority must be persuaded by ideology that their government is good, wise and, at least, inevitable, and certainly better than other conceivable alternatives. Promoting this ideology among the people is the vital social task of the “intellectuals.” For the masses of men do not create their own ideas, or indeed think through these ideas independently; they follow passively the ideas adopted and disseminated by the body of intellectuals. The intellectuals are, therefore, the “opinion-molders” in society. And since it is precisely a molding of opinion that the State most desperately needs, the basis for age-old alliance between the State and the intellectuals becomes clear." Anatomy of the State, Murray Rothbard.
These supposed higher centers of learning in the world are indeed about learning, not education. It is all in the indoctrination to a much higher degree than just high school. It is all about sending parrots to institutions so they can squawk louder and longer but they don't know shit about shinola. College graduates that know nothing about education nor the world around them.
The entire banking system throughout the globe is a giant Ponzi scheme that, when it goes bust, it just creates a bigger bubble than the one that previously went bust to try to continue the system of deception and hence making it only worse and worser as it continues to uphold it, that in the end more ordinary people goes poorer & poorer while the elite few who have the grip on the system are continually stealing and extracting value from the sweet & blood of the ordinary people who in the end will end up with almost nothing as they're being continually extracted dry by this oppressive system.