Author Topic: The Fed's Losing Battle with Deflation (w/ Jeff Booth)  (Read 961 times)

Quickbeam

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The Fed's Losing Battle with Deflation (w/ Jeff Booth)
« on: March 29, 2020, 10:14:22 AM »
Maybe some of you need a break from all the Covid 19 news. Here is an interesting interview with Jeff Booth, the author of “The Price Of Tomorrow”. The interview is about 45 minutes long and the key is really how we are living in a false economy due to deflationary pressures and the future consequences. Is very interesting. He touches on AI and a number of other topics.

Full disclosure in that I know Jeff and am good friends with his mother.


https://www.youtube.com/watch?v=F8lfLqnhuGs&feature=youtu.be
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Fishman

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Re: The Fed's Losing Battle with Deflation (w/ Jeff Booth)
« Reply #1 on: March 29, 2020, 06:13:54 PM »
Yeah, that's a great interview. He is a super insightful guy. I shared that interview with my boys. Much discussion followed.

I just discovered that Real Vision channel a couple of weeks ago. It's really good.
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Wetstuff

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Re: The Fed's Losing Battle with Deflation (w/ Jeff Booth)
« Reply #2 on: April 15, 2020, 09:17:30 AM »
Thanks, QB.  Much was over my head but I love podcasts. Now that I have no employees, I can listen to all the c'hit I want! 

Jim
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Quickbeam

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Re: The Fed's Losing Battle with Deflation (w/ Jeff Booth)
« Reply #3 on: April 15, 2020, 03:53:58 PM »
Thanks, QB.  Much was over my head but I love podcasts. Now that I have no employees, I can listen to all the c'hit I want! 
Jim

You’re welcome. Glad you had the chance to see it.
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PonoBill

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Re: The Fed's Losing Battle with Deflation (w/ Jeff Booth)
« Reply #4 on: April 17, 2020, 04:27:01 PM »
That's good stuff, it's a different angle on something I've been thinking about and studying for quite a while. We don't pay too much attention to the acceleration of technology because we live in the middle of it. No one is amazed to step on a plane, or use a computer, or their smartphone--but they should be. the capabilities of these devices are far beyond the fevered imaginings of most science fiction writers. I think the biggest change will be AI and biotech, and that will change the world completely in 20 years. When I say "change the world" that leaves a huge range of possibilities, from kill us all to make us godlike, and everything in between.

The deflation aspect is kind of obvious, I'm irritated that I didn't think about that. Advanced tech is almost free. The only thing that sustains higher prices is rapid obsolescence. People used to plan obsolescence into products, and that is so pointless now. I have equipment I spent thousands of dollars on that doesn't even have salvage value now. I still use a lot of it, but there's no question in my mind the replacement products are hugely superior. I have 3D printers that were bleeding edge when I bought them that are pitiful now.

With the huge deflation in likely to occur comes another weird shock to the political system. The value of a worker will plummet even more. Socialism made headway because the workers had power. What happens when they don't--when they have small value.
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Quickbeam

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Re: The Fed's Losing Battle with Deflation (w/ Jeff Booth)
« Reply #5 on: April 18, 2020, 01:33:47 PM »
Glad you enjoyed it Bill. And the points you make are valid.

In the not too distant future either ourselves, or at the very least our children, will most probably be living in a world that we just can’t comprehend right now.

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Subber

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Re: The Fed's Losing Battle with Deflation (w/ Jeff Booth)
« Reply #6 on: April 20, 2020, 12:26:41 PM »
oooooffffff

May 2020 Oil Contract today dropped from an already very low $20 per barrel to a record low -$37 per barrel
(contract is still open).  So they pay the "buyer" $37 to haul the oil away on settlement day.

Whoa, now that is deflation - ugh.

Because of the economic slowdown, oil storage capacity is full, so demand is nil (right now).
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Wetstuff

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Re: The Fed's Losing Battle with Deflation (w/ Jeff Booth)
« Reply #7 on: April 21, 2020, 07:55:53 AM »
I live on the western edge of the I-95 for commercial aircraft and typically see three planes racing to be the first on the ramp in Atlanta or Orlando in 5min of the evening when I take the dog out.  The skies are virtually empty; it is a surprise to see one plane.  The local commuter often takes off for Philly over my shop.  I have only seen one in the last week or so. (partially wind dependent).  The only reliable plane is the FedEx Caravan coming in ~8 am.  Commercial aviation consumes a lot of oil.  My 12mi. drive into town is pleasantly quiet also, but, I seem to see a lot more cops when there are fewer cars.



Jim
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