

Peter St. Onge - Making Sense of the American Economy
15 snips May 22, 2024
In this engaging discussion, Peter St. Onge, a legendary economist and Heritage Foundation Fellow, delves into the complexities of inflation and the future of currency. He critiques public misconceptions about central banking and advocates for digital currencies like Bitcoin to disrupt traditional systems. St. Onge also shares innovative investment strategies to combat inflation and expresses concerns about Boeing's financial mismanagement. Listeners gain valuable insights into consumer behavior, government policies, and the importance of informed discourse.
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Hidden Inflation
- Real inflation is higher than reported, considering economic and population growth should decrease prices.
- Public education's decline correlates with inflation's acceptance, hindering electorate understanding.
Digital Currency's Impact
- Digital currencies, especially Bitcoin, challenge central banking by increasing transparency and efficiency.
- Gresham's Law suggests good money (Bitcoin) will be hoarded, while bad money (dollar) plummets.
Bitcoin Volatility
- Bitcoin critics misunderstand its volatility; the dollar has fluctuated significantly since Nixon.
- Bitcoin's price will stabilize with widespread adoption, primarily driven by its use as savings.