The Socialist Program with Brian Becker Why Higher Prices Are Here to Stay: The Hidden Truth About Inflation
18 snips
Feb 14, 2024 
Discusses the spike in housing costs and inflation surpassing the Federal Reserve target. Explores human decisions affecting market prices and critiques media for blaming vague market forces. Compares past inflation rates during the Vietnam War and analyzes the impact on working people. Explores power dynamics within the capitalist system and the intervention in issues like rent control.
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Media Manipulation of Inflation Narrative
- Media outlets use manipulative language to obscure the human element in inflation.
- This deflection aims to protect employers, the primary price-setters, from public anger.
Government Spending and Inflation
- Employers raise prices when they believe consumers have more money, anticipating higher profits.
- Government spending, like on wars, fuels inflation by injecting more money into the economy.
Vietnam War and Inflation
- Brian Becker notes that the Vietnam War, a costly conflict, contributed to 1970s inflation.
- He highlights the link between war-related deficit spending and rising prices.