Episode Transcript
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Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
I want to touch on the great inflation lie, the
two percent inflation lie. I know we covered the FED
last week and their meeting and what they're going to do,
and the dual mandate and all that stuff, But I
just want to give you another example just how I'm
going to demonstrate for you this idea, because I got
into a little bit of a debate this past weekend,
(00:37):
friendly conversation. People actually believing that this two percent inflation
target is real and the FED has actually been even
the slightest bit successful in their endeavor. First and foremost,
first and foremost, Okay, I want to I want to
deal with something again. This is heading for the younger
(00:59):
generation out there again. This is why inflation is a
big deal. Gen Z right now leads the biggest drop
in FIICO scores since the financial crisis. College education. College
education is up since nineteen eighty five, up six hundred
and ninety five percent. They're getting hit with that. Okay,
we've already talked about colleges and universities, inflation, and the
(01:21):
scam that that is Hedge Fund USA again, all a
factor of the government printing too much money, government programs
subsidizing colleges and universities. Again, I'm going to go over
the numbers of the past five years. The past five years,
these are just every day items. A dozen eggs up
(01:43):
one hundred and seventy percent, a pound of coffee up
ninety seven percent, auto insurance up sixty percent, fuel oil
up fifty five percent, gas housing gas gas utilities fifty
four percent, home prices up fifty one percent, transportation of
(02:04):
forty four percent, gasoline up forty two percent, electricity up
thirty nine percent, restaurants up thirty percent, shelter up twenty
eight percent, use cars up twenty seven percent, groceries up
twenty five percent, family health insurance up twenty four percent,
new cars up twenty one percent. You explained to me,
with numbers like this, how the flat fed has been
(02:25):
even the slightest bit successful controlling inflation with their two
percent target. Again, you look at these numbers and they
talk to you, and it should insult your intelligence. Again
something I've been banging, banging the druma about for a
very long period of time. The inflation that matters is
(02:46):
every day inflation. I made a fool out of myself
a couple of years ago singing the Bare Necessities from
the Jungle Book on one of my podcasts. Okay, to
demonstrate the bare necessity inflation, the bare necessities of life
that was part of the Jungle Book song. Those things
(03:06):
have skyrocketed. Those things are hurting people, seems are helping
hurting younger generations. Okay, it's helping, hurting across the board.
All of this again. FED can't control. FED can't control.
They can't The FED does what Washington, DC wants them
to do. Print more money, borrow and print, borrow and print,
(03:28):
borrow and print. Until we stop doing that. We're in trouble.
We're talking. I want to remind everybody is something right now.
In case you weren't aware of this, we are currently
at this point in time, we are currently uh, the
(03:53):
worst week of the year. I've talked about this before,
you and I. Yeah, it's the worst week of the
year for taxpayers, this worst ye oh yeah, worst week
of the year for taxpayers. Why is the worst week
of the year for taxpayers. Well, this is the week
where every government agency in a September, every government agency
has to spend. Every time you could have a government
(04:16):
agency that was efficient, you know, did everything right save
themselves a fortune, had a pile of cash. Come the
end of September, that pile of cash better be spent.
There's no incentive, there's no, nothing, nothing in regards to
saving money. And let me tell you something. I've got.
I've got clients that are military brass that run departments.
(04:44):
It discussed them. It makes them absolutely sick to their
stomach with what has to be done, what they have
to do at the end of September. Oh sure they
could fix we could fix the problem. Or are they
going to no, no, no again, continuing resolution, more spending.
(05:10):
It's just how much more. Whether the Democrats want three
trillion dollars and more deficits, Republicans want two trillion, they'll
probably split the difference. And who get screwed? We do
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