Ep. 67: Interview EJ Antoni on The Real State of The Economy
Jul 20, 2024
35:52
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EJ Antoni from Heritage Foundation talks about inflation, jobs, and the looming Commercial Real Estate disaster. They discuss government actions, unsustainable consumer spending, and concerns about future crises. Also covered are topics like valuing assets, banking regulations, and dynamics within the current administration.
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Quick takeaways
High inflation rates result from Bidenomics' excessive spending.
Bidenomics resulted in massive government spending and borrowing, leading to negative growth and high inflation rates. Consumers, depleted of savings, turned to credit cards for basic needs due to rising costs of living.
Inflation's Influence on Consumer Behavior
Increasing inflation led consumers to switch to cheaper products, causing a cascading shift in demand across income tiers. The inadequacy of standard inflation measures overlooked these effects, leading to inflated consumer spending estimates.
Government Borrowing and GDP
Unprecedented government borrowing inflated GDP figures, masking real economic growth. The government's approach resembled short-term gains at the expense of future debt repayment, causing a distorted economic outlook.
Potential Economic Crisis and Political Uncertainty
Concerns loom over potential crises in commercial real estate and broader economic instability. Political uncertainties, including potential leadership changes, raise questions about future economic policies and outcomes.