Steve Leisman demonstrates he has no idea why Americans are suffering
This video here is a classic example of why the mainstream media and CNBC should be turned off, permanently. Clueless, completely.
Steve Leisman is a CNBC regular and apparently a spokesman for the clueless politicians who are in the midst of financial genocide. The first two guests are trying to explain what has become quite apparent to anyone with a basic understanding of economics and Leisman unfortunately represents the majority of Americans. If it were not a representation of general sentiment it would be funny.
My only problem with Michael Pento's (the 2nd guy) approach is his reliance on CPI data which is at best questionable and at worst purposely fraudulent (so that our government can get away not paying Social Security).
For those just joining us here. Inflation has only one definition and whether Leisman drinks crude oil is not relevant. Inflation is when the monetary supply expands. That is it. Notice how the two CNBC shills have absolutely NO idea what inflation even means! This is not MTV folks, this is a channel devoted to investing!!
To further drive the point home, only the large commercial banks and the Federal Reserve can expand monetary supply through either printing or making loans off of money they do not really have. This is what drives the dollar down and this is why you cannot buy as much with the dollars you are earning. Combine that with stagnant wages and you have a pretty miserable existence - kind of like what we have been having now for almost a decade. Inflation is the single biggest enemy because it is a hidden tax and everytime the government willingly takes on more debt, remember that you are paying for it.
Steve Leisman is a CNBC regular and apparently a spokesman for the clueless politicians who are in the midst of financial genocide. The first two guests are trying to explain what has become quite apparent to anyone with a basic understanding of economics and Leisman unfortunately represents the majority of Americans. If it were not a representation of general sentiment it would be funny.
My only problem with Michael Pento's (the 2nd guy) approach is his reliance on CPI data which is at best questionable and at worst purposely fraudulent (so that our government can get away not paying Social Security).
For those just joining us here. Inflation has only one definition and whether Leisman drinks crude oil is not relevant. Inflation is when the monetary supply expands. That is it. Notice how the two CNBC shills have absolutely NO idea what inflation even means! This is not MTV folks, this is a channel devoted to investing!!
To further drive the point home, only the large commercial banks and the Federal Reserve can expand monetary supply through either printing or making loans off of money they do not really have. This is what drives the dollar down and this is why you cannot buy as much with the dollars you are earning. Combine that with stagnant wages and you have a pretty miserable existence - kind of like what we have been having now for almost a decade. Inflation is the single biggest enemy because it is a hidden tax and everytime the government willingly takes on more debt, remember that you are paying for it.
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