In this episode of Fiscally Savage, Dylan discusses three aspects of the inflation equation: too much money, too many people, and too few goods. Dylan also addresses related topics such as supply and demand, the COVID-19 pandemic and how it affected global supply chains, what the Federal Reserve is doing to combat inflation, and more.
Show Highlights:
- [03:22] The functional definition of inflation
- [04:25] The problem with demand and supply
- [08:11] The problem with printing money
- [08:52] The “too much money” part of the inflation equation
- [09:52] The “too many people” part of the inflation equation
- [11:26] The “too few goods” part of the inflation equation
- [12:06] How the COVID-19 pandemic impacted global supply chains
- [13:19] How China’s lockdowns are affecting global supply chains
- [14:33] How the pandemic affected meat prices in the U.S.
- [15:11] How the war in Ukraine is affecting corn, fertilizer, and gas prices globally
- [17:49] Why inflation is a supply chain issue
- [20:12] How the Federal Reserve plans to control inflation
- [21:32] How raising taxes can help lower inflation
- [22:35] Why gold and silver are poor inflation hedges
- [24:52] Two ways to hedge against inflation
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