How Deflation Will Impact the Economy and Your Debt with Jeff Booth. We worry about inflation, but the technology we increasingly use is deflationary. Hard to believe, but that’s why most of the apps on your phone are free. Deflation is great if you can buy things for less, but debt doesn’t deflate, so you could end up with much higher debt costs in real dollars. On today’s podcast first-time guest Jeff Booth, entrepreneur, and author of The Price of Tomorrow: Why Deflation is the Key to an Abundant Future, explains why we should think about deflation, and how it will impact the economy, inequality, your job, and your debt. You may not agree with Jeff’s perspective, but it will make you think. Enjoy!
Jeff Booth’s book, The Price of Tomorrow: Why Deflation is the Key to an Abundant Future, on Amazon: https://amzn.to/3dVDrKc
Jeff on Twitter: https://twitter.com/JeffBooth @JeffBooth
Jeff Rubin episode # 317: https://youtu.be/-4vvcQqFuxU:
Modern Monetary Theory episode https://youtu.be/TMGDaTGx3V4
Statistics Canada Inflation statistics: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000501
0:45 Intro, and Jeff’s book, The Price of Tomorrow
5:00 Historical inflation – inflation is a hidden tax
7:24 Technology is everywhere; technology reduces prices; so why aren’t prices dropping everywhere?
10:24 Is COVID inflationary?
11:46 Is inflation inevitable?
14:58 Everything becomes free in the long term
16:00 Economics is built around scarcity, not value.
19:23 What will happen to jobs with rising technology?
23:45 Inequality and what ‘Tax the rich’ really means.
26:30 Modern Monetary Theory and Inflation
29:33 CERB didn’t cause inflation – what’s the problem?
31:57 Jeff’s advice for people with debt
35:19 Is Jeff crazy for recommending Bitcoin?
37:11 Buy Bitcoin or pay off debt?
37:56 Advice for finding a job in the new world
43:50 There is more opportunity today than ever
#Deflation #JeffBooth #ImpactOfDeflation #Deflationary #DeflationaryTechnology