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Money Presses and Inflation
MoneyWise // Sep 13, 2021
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Show Notes
Economist Thomas Sowell said this about inflation, “It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.” As inflation creeps up, people are understandably concerned about how it will affect their budgets and investments. We’ll talk about that first with our own economist, Jerry Bowyer.Jerry Bowyer is the financial editor at Townhall.com, a frequent guest on the Fox Business Channel, and author of The Maker Versus the Takers: What Jesus Really Said About Social Justice and Economics.
We recently received an email from listener Kurt in Colorado. Kurt was asking to have a discussion about how the Federal Reserve "prints money" that it pours into the economy and whether this leads to inflation. He also wanted to know if there are good investments that protect against inflation
Jerry Bowyer tackles the first part of the question by talking about The Bureau of Engraving and Printing and how they actually print money.
He also describes the Fed’s policy of expanding the money supply since the onset of the pandemic.
Jerry also answers the question about when the Fed increases the supply of money does that automatically cause inflation, more dollars chasing goods, so prices rise?
Our listener, Kurt, also had a question regarding the trillion dollar spending bills that Congress has been passing since the pandemic, greatly increasing the national debt. Jerry speaks about how significant this deficit spending is in a historical sense?
Economist Jerry Bowyer’s been our guest today. You can read his insightful articles at TownHall.com.
On this program we also answer your calls:
My husband and I started a remodel on our home and then I ended up having some medical problems, so we had to wait on our remodel. We are now back to remodeling. We have been told to get a construction loan or a HELOC. What is your advice?
I am 80K in credit card debt. I would like to change my ways. Where should I start?
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