Financial Friday - Deficits DO Matter
Brushwood Media Network · The Wohlwend Family
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Show Notes
FF: Deficits DO Matter!
We talk about holiday spending in the U.S. and Canada, which can add to the monthly deficit and overall debt for the consumer. Governments are continuously increases their debt and running deficits every year. While some may say that deficits don't matter or "in the long run, we'll all be dead," but the truth is that the only way to increase the monetary supply without inflation is to create enough value to account for the increase. That is not what is going on in the world today. The government deficit is added to GDP, but the government isn't actually producing anything, so the calculation for GDP is seriously flawed. The greatest trick the Fed ever did was to convince the world that 2% inflation was good. It just makes it take more currency to get the goods and services you need and steals your purchasing power. We talk about how you can plan ahead to make your world a better place!
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