Inflation

 Jeff Deist calls in to talk about deflation, Jeff Booth’s book The Price of Tomorrow, the role of the federal reserve in creating consumerism, liberalism as opposed to Marxism, and more.

Jeff Booth says that fast-improving technology causes prices to fall, and that we would have a more prosperous world if government would step aside and embrace deflation rather than fight it.

We’re in a terminal debt spiral. The only question is how long it will last until the patient succumbs.

Negative interest rates lead to zombie firms, rampant consumerism, and growing obstacles to entrepreneurship. 

Since government creates nothing itself, all interventions are nothing more than transfers of wealth for the benefit of some and the destruction of wealth for everyone else.

Demand for gold tends to increase as faith in government and government intervention in the economy declines.

All price changes have real effects on demand for goods, and therefore alter goods' prices relative to one another. For this reason changes in the money supply can't fail to affect resource allocation.

Thanks to central banks, people now believe the myth that it is possible to shut down the economy and everything will be fine if we just print a lot of new money.  

The conventional view is that new money creation is no problem so long as the demand for money is increasing. The conventional view is wrong.

There's more saving and less spending. This would bring deflation, but there's a catch: we're making less stuff, which means more money chasing fewer goods.