5min chapter

Superinvestors and the Art of Worldly Wisdom cover image

#53: Edward Chancellor On What History Can Teach Us About The True Cost Of Easy Money

Superinvestors and the Art of Worldly Wisdom

CHAPTER

The Mandate of Inflation Is a Crisis of Economics

"We really, definitely, to my mind, have a crisis of economics," he says. "The average working person doesn't complain when the price of beer or the car cost less one year than another." The central bankers used that good deflation spooked into lowering interest rates, fuelling the asetpice bubbles and credit booms,. When they bust, they give you the bad deflation - an economy that contracts when everyone tries to pay off their debt.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode