Episode
Why Does Fighting Inflation Have to Hurt So Much?
57:57
Published: Wed Oct 19 2022
Description
Jon is joined by Steve Hanke, a professor of applied economics at Johns Hopkins University, for a chat about why we find ourselves in this current inflation disaster and how we might get out of it. They get into whether the Fed is blowing it, the role of money supply, and whether anyone is looking out for the little guy in all of this monetary maneuvering. They don’t always agree, but Jon manages to score a passing grade from the professor! Plus, staff writers Kasaun Wilson and Henrik Blix are here talking about Kanye’s anti-Semitism and, of course, the Mets.Stream our newest episode, “Globalization: Made in America,” starting October 21 on Apple TV+.CREDITSHosted by: Jon StewartFeaturing, in order of appearance: Kasaun Wilson, Henrik Blix, Steve HankeExecutive Produced by Jon Stewart, Brinda Adhikari, James Dixon, Chris McShane, and Richard PleplerLead Producer: Sophie EricksonProducers: Zach Goldbaum, Caity GrayAssoc. Producer: Andrea BetanzosSound Engineer & Editor: Miguel CarrascalSenior Digital Producer: Freddie MorganDigital Coordinator: Norma HernandezSupervising Producer: Lorrie BaranekHead Writer: Kris AcimovicElements: Kenneth Hull, Daniella PhilipsonTalent: Brittany Mehmedovic, Margorie McCurry, Lukas ThimmResearch: Susan Helvenston, Andy Crystal, Cassie Murdoch, Deniz Cam, Harjyot Ron SinghTheme Music by: Gary Clark Jr.The Problem with Jon Stewart podcast is an Apple TV+ podcast, produced by Busboy Productions. https://apple.co/-JonStewart
Chapters
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Summary
The Problem with Jon Stewart is back with season 2 on Apple TV+. The first episode is available for free and covers the topic of gender.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
In this episode, Bill Maher highlights the prevalence of conspiracy theories and anti-Semitism in the world of politics and entertainment.
01:12 - 07:07 (05:54)
Summary
In this episode, Bill Maher highlights the prevalence of conspiracy theories and anti-Semitism in the world of politics and entertainment.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
The transcript covers topics ranging from a football play gone wrong, Knicks basketball team, to race issues between white people, which are described as almost the same thing by the speaker.
07:07 - 09:58 (02:51)
Summary
The transcript covers topics ranging from a football play gone wrong, Knicks basketball team, to race issues between white people, which are described as almost the same thing by the speaker.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
There is a lag between changes in the money supply and changes in asset prices and ultimately changes in inflation, as demonstrated by the price increases of oil, grains, livestock, and housing after an increase in the money supply.
09:58 - 14:45 (04:46)
Summary
There is a lag between changes in the money supply and changes in asset prices and ultimately changes in inflation, as demonstrated by the price increases of oil, grains, livestock, and housing after an increase in the money supply. A study of 110 countries explores the relationship between changes in the money supply and inflation.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
The increase in money supply affects inflation and giving money directly to middle- and lower-income individuals will stimulate demand, while corporations have benefited from easy money without causing notable inflation in the past.
14:45 - 20:05 (05:20)
Summary
The increase in money supply affects inflation and giving money directly to middle- and lower-income individuals will stimulate demand, while corporations have benefited from easy money without causing notable inflation in the past.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
Commercial banks produce around 90% of the money in the United States, but this is not a well-known fact.
20:05 - 26:58 (06:53)
Summary
Commercial banks produce around 90% of the money in the United States, but this is not a well-known fact. The 2008 financial crisis created a shift in money supply and resulted in several rounds of quantitative easing.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
The increase in money supply causes inflation, not the increase in the price of oil.
26:58 - 31:57 (04:59)
Summary
The increase in money supply causes inflation, not the increase in the price of oil. Bank of Japan kept a steady money supply growth during the oil embargo in 1973, which prevented significant inflation rates despite the increase in the oil prices.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
The Fed believes that the money supply does not have a reliable relationship with inflation, but to hit the Fed's target at 2%, the money supply should grow at around 5% per annum.
31:59 - 36:51 (04:51)
Summary
The Fed believes that the money supply does not have a reliable relationship with inflation, but to hit the Fed's target at 2%, the money supply should grow at around 5% per annum. Unfortunately, the little guy is the one bearing the weight of inflation as they are the one spending the most.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
The direct stimulation provided by stimulus checks and earned basic tax income credit offered some relief to the general population, despite the current administration's efforts to restrict supply and temporary inflation caused by supply chain issues.
36:51 - 41:25 (04:34)
Summary
The direct stimulation provided by stimulus checks and earned basic tax income credit offered some relief to the general population, despite the current administration's efforts to restrict supply and temporary inflation caused by supply chain issues.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
The Fed is hesitant to accept the quantity theory of money as it would make them appear responsible for inflation.
41:25 - 52:18 (10:53)
Summary
The Fed is hesitant to accept the quantity theory of money as it would make them appear responsible for inflation. Even if the money supply was managed better, the effects would still take some time to go through the system, and handling the distribution of funds during difficult economic times remains a challenge.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
The focus on macro economics should not come at the expense of micro economics, which is essential in ensuring basic needs are met for individuals and families.
52:18 - 56:39 (04:20)
Summary
The focus on macro economics should not come at the expense of micro economics, which is essential in ensuring basic needs are met for individuals and families.
EpisodeWhy Does Fighting Inflation Have to Hurt So Much?
PodcastThe Problem With Jon Stewart
Professor Steve Hanke from Johns Hopkins University talks about the show "The Problem" airing on Apple TV+.
56:39 - 57:32 (00:53)
Summary
Professor Steve Hanke from Johns Hopkins University talks about the show "The Problem" airing on Apple TV+.