Plain English with Derek Thompson We Have to Talk About Inflation
Nov 19, 2021
Michael Batnick and Ben Carlson, experts in wealth management and asset management respectively, dissect the current economic landscape, focusing on rising prices and labor shortages. They discuss how rapid demand exceeds supply, leading to inflation. The duo highlights the psychological shifts in consumer behavior and impacts on wage growth, particularly for low-income workers. They also explore the political implications of these economic challenges, emphasizing the need for clearer communication from the Biden administration to address public concerns.
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Economy: A Mixed Bag
- The US economy presents a confusing mix of positive and negative indicators.
- Good news often has drawbacks, while bad news has potential upsides.
Inflation's Impact
- Inflation is impacting various goods, from groceries to durable items.
- While some price hikes are temporary due to supply chain issues, others, like wages, may be permanent.
Car Market Woes
- Michael Batnick's car broker is struggling to find vehicles due to shortages.
- He's now buying his wife's car instead of leasing a new one due to price increases.