American Monetary Association 419: Dr. Peter Navarro, Stagflation & In Trump Time, America's Plague Year
Is this the worst economy since the 1970s? Are we setting ourselves up for more hard times to come? Jason Hartman interviews Dr. Peter Navarro, former deputy assistant to President Donald J. Trump, about the state of the US economy under the previous and current administration. Are we already experiencing a period of stagflation? How will this impact the stability of our country?
Watch the video HERE.
Key Takeaways:
1:07 Dr. Peter Navarro is the former deputy assistant to President Donald J. Trump, former assistant to the President for Trade and Manufacturing Policy, former National Defense Production Act Policy coordinator and former director of the White House National Trade Council
2:00 This is the worst economy since the 1970s and and we're setting ourselves up for stagflation
3:24 In the 70s, stagflation was a product of three convergent forces
6:20 We have 10 million unemployed people, but at the same time, we have something like 10 million job openings
7:47 Reagan used the Misery Index to get elected
11:04 During Trump's presidency, we were going forward with policies that kept the unemployment rate low, but the labor force participation rate rising
13:14 We're already in stagflation now and what's your opinion on the real inflation rate right now
15:04 We're under estimating the inflation rate, and then we're under estimating the unemployment rate, because the labor force participation rate now is plunging again
15:46 Trump was was somebody who maintained robust growth above expectations, rising real wages, secure border, peace with Iran, peace with North Korea, and attacked China's economic aggression
17:57 Now we're in a situation where blue collar America is going to be impoverished because we've losing our jobs
20:57 Trump gave hope to whole new classes of people that really just never had it before
22:18 I think we're going to see a decline in the standard of living for a large part of the population and that does not bode well for a stable country
25:38 Maybe the most disconcerting thing of all is the censorship of these big tech companies
29:18 Power corrupts and absolute power corrupts absolutely
29:40 These are three things that need to happen with these big tech companies
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