Best way to understand inflation talk at a college

[Robert W]

When you get hit by inflation, it would be strange for you not to care.
This is what Democrats ask of all of us. Ignore it because of their claims the economy is booming.
Suppose what they say is true. Look at the history of inflation and see how you want to cope with it.

 

[Mr Natural]

Isn’t Friedman the quack who doesn’t think medical doctors need to be licensed?

 

[Polishprince]

When you get hit by inflation, it would be strange for you not to care.
This is what Democrats ask of all of us. Ignore it because of their claims the economy is booming.
Suppose what they say is true. Look at the history of inflation and see how you want to cope with it.

In college, when the price goes up, they just make the students borrow more money.

 

[Lemmi]

Milton Friedman should be worshiped by people with half a brain. As compared to full brained people of 50 years ago. It's called shrinkflation.

 

[Lisa558]

In college, when the price goes up, they just make the students borrow more money.

….and then when they whine they can’t afford the payments, make car mechanics and retail cashiers pay for them.

 

[Robert W]

Isn’t Friedman the quack who doesn’t think medical doctors need to be licensed?

Friedman has died.

 

[mamooth]

Friedman was a TrueBeliever in the Cult of the Invisible Hand. Since it's a cult, you can't use logic when talking to the cultists.

Friedman told the greedy that greed was good, and that being moral and decent was only for communists, so the greedy fell in love with him.

As for inflation, I'll let this piece talk about how Friedman pooched it.

The Truth About Inflation: Why Milton Friedman Was Wrong, Again - Evonomics

As inflation fears return, it’s worth reminding ourselves of the real-world facts.

evonomics.com

---
Like much of economic theory, Friedman’s thinking appears plausible on first glance. Inflation is a general rise in prices. And since prices are nothing but the exchange of money, more circulating money means prices must increase. Hence, inflation is ‘always and everywhere a monetary phenomenon’.

Unfortunately, this thinking falls apart on further inspection. The problem is that it treats inflation as a uniform rise in prices. That’s theoretically convenient, but empirically false. In the real world, inflation is wildly divergent. At the same time that the price of apples rises by 5%, the price of cars could grow by 50%, and the price of clothing might fall by 20%.
---

 

[Robert W]

Friedman was a TrueBeliever in the Cult of the Invisible Hand. Since it's a cult, you can't use logic when talking to the cultists.

Friedman told the greedy that greed was good, and that being moral and decent was only for communists, so the greedy fell in love with him.

As for inflation, I'll let this piece talk about how Friedman pooched it.

The Truth About Inflation: Why Milton Friedman Was Wrong, Again - Evonomics

As inflation fears return, it’s worth reminding ourselves of the real-world facts.

evonomics.com

---
Like much of economic theory, Friedman’s thinking appears plausible on first glance. Inflation is a general rise in prices. And since prices are nothing but the exchange of money, more circulating money means prices must increase. Hence, inflation is ‘always and everywhere a monetary phenomenon’.

Unfortunately, this thinking falls apart on further inspection. The problem is that it treats inflation as a uniform rise in prices. That’s theoretically convenient, but empirically false. In the real world, inflation is wildly divergent. At the same time that the price of apples rises by 5%, the price of cars could grow by 50%, and the price of clothing might fall by 20%.
---

That myth is debunked daily.

 

[sealybobo]

When you get hit by inflation, it would be strange for you not to care.
This is what Democrats ask of all of us. Ignore it because of their claims the economy is booming.
Suppose what they say is true. Look at the history of inflation and see how you want to cope with it.

1. You guys are so anti college.

Roseanne Barr Urged Students to 'Drop Out of College' at Mar-a-Lago Fundraiser?

The former sitcom star also claimed colleges were awash with "baby-blood-drinking Democrat donors."

www.snopes.com

Meanwhile, rich people who tend to vote Republican, all send their kids to college.

2. Blue collar workers who belong to unions got raises last year to make up for inflation. If Trump's blue collar workers want to do better, they may need to organize.

3. Trump was just as responsible for inflation. More because he handed Joe Biden a mess. Trump's stimulus was bigger than Joe's. And Trump doubled the debt in 4 years.

 

[Polishprince]

2. Blue collar workers who belong to unions got raises last year to make up for inflation. If Trump's blue collar workers want to do better, they may need to organize.

Some did, and some didn't . And a lot of proud Scab workers also got raises.

What is certain is that union dues went up, so business agents, organizers and goons that work for Big Labor, so those folks were all taken care of.

 

[sealybobo]

Some did, and some didn't . And a lot of proud Scab workers also got raises.

What is certain is that union dues went up, so business agents, organizers and goons that work for Big Labor, so those folks were all taken care of.

My Republican politician buddy. County Clerk. Gave himself a big fat inflation raise.

 

[Moonglow]

When you get hit by inflation, it would be strange for you not to care.
This is what Democrats ask of all of us. Ignore it because of their claims the economy is booming.
Suppose what they say is true. Look at the history of inflation and see how you want to cope with it.

This is yer idea of intelligence?

 

[Robert W]

This is yer idea of intelligence?

You need to make some corrections to your question.

 

[Moonglow]

You need to make some corrections to your question.

Yer like a mathematician who only uses half the formula for an answer to truth.

 

[Robert W]

Yer like a mathematician who only uses half the formula for an answer to truth.

Because you need to make some corrections? Sure, that's it.

 

[my2¢]

Given an hour-and-half long video, I don't care to find out.