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Chamath reversal ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E71 · 2022-03-05 ▶ 21:30

No. And the other thing, in fact, it's the opposite. ... What I can tell you is I think that prices are too high in certain core commodities and goods. I think what's going to happen is we are going to find a way to subsidize those prices coming down.

Friedberg support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E71 · 2022-03-05 ▶ 1:11:56

Today, corn, I think, is trading at $7.60 a bushel. That hasn't happened, guys. I can't tell you in how long. This was a commodity that was trading at $3.50 a few months ago. ... The trickle-down effect, as we're already seeing in California, or San Francisco, with the average price per gallon of gas at over $5. The trickle-down effect on purchasing behavior, on businesses defaulting because suddenly their counterparties dry up.

Sacks support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E67 · 2022-02-12 ▶ 1:03:46

there was a really interesting chart on inflation that actually Zero Hedge tweeted. And I threw it up in the notes here where they said real hourly earnings are negative 1.7 percent. It's the 10th month in a row where US incomes aren't keeping up with inflation. ... Actually, as it turns out, it boosted inflation so much that people are feeling worse off, even though their wages went up slightly, because on a net basis, their earnings are down. So I just think it's a good reminder that you can't just like print wealth. You can't print your way to prosperity.

Chamath reversal ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E64 · 2022-01-22 ▶ 44:31

But David is saying something really important. The risk, in my opinion, is not of runaway inflation anymore. And the reason was what happened this weekend was incredibly important.

Sacks support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E60 · 2021-12-23 ▶ 43:04

But now it turned out that the inflation was not transitory. And so the use of the word transitory, I predict, will in fact be transitory.

Chamath support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E59 · 2021-12-17 ▶ 33:22

The Fed prints money, the government prints $100, takes that $100, steps into the market, and takes something from you, in this case, it's a bond, and gives you that freshly printed $100. What are you going to do? Well, you're probably going to go and spend that, you're going to buy other things. And that's the cycle of inflation that quantitative easing basically creates. ... when we're printing six, seven, eight percent inflation for me to basically keep the money printing machine on because it's it's insane

Sacks support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E59 · 2021-12-17 ▶ 31:38

this BBB bill was particularly anachronistic once the 6.8%, you know, inflation print came out. In other words, we're in a hyperinflationary environment and here comes this bill that the CBO says if, you know, over 10 years would cost $5 trillion, that's the last thing we need is more money printing when, you know, we've got this inflationary fire out of control.

Friedberg support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E58 · 2021-12-11 ▶ 17:37

We're seeing asset bubbles everywhere in NFTs, in crypto, in startups, in new startups, in new ideas. ... And as a result, we're kind of seeing this inflationary pressure persist.

Chamath support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E58 · 2021-12-11 ▶ 13:58

CPI is horribly calculated and it's really imprecise ... the largest owners of nationwide single-family rentals are reporting a 17% year-over-year rent increase ... it means that core CPI actually went from 4.9% today to actually 9%. And the CPI print, which was 6.8%, was actually 10.1%.

Sacks support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E58 · 2021-12-11 ▶ 9:04

it's definitely not transitory ... Then it went to 6.2. Now it's 6.8. Looks like it's headed to 7%. ... these guys are continuing to pump more and more stimulus into an economy that has enough

Chamath support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E57 · 2021-12-04 ▶ 40:44

the government changed their formula for what is considered a conforming mortgage. I think it kicks in in January and essentially it basically allows US homeowners to have a million dollar mortgage and have it essentially be conforming. ... So worse terms become better terms. You have more equity. You can pull out more money. I think that people will spend that money. And so even on the consumer side, I think that you have an impetus to spend.

Friedberg support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E56 · 2021-11-20 ▶ 53:05

the primary reason for the increase in education costs because the government funds all the student loans, the increase in health care, the increase in defense, all of it is because the government is the customer and they tell the person that's servicing them upfront, they tell the market what they're willing to pay. And so the market just inflates to that amount.

Friedberg support ×1 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E55 · 2021-11-13 ▶ 47:51

Yeah, I made one in January that said the same thing. ... So it's very likely that, you know, tax revenue could kind of present itself again as a driver if inflation continues to spiral up.

Jason support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E55 · 2021-11-13 ▶ 45:11

The thing I'm seeing now is I think we've moved into what I'll call a contagion phase of inflation, which is people are hearing about inflation. They're seeing it. ... They're just saying, everything's going up around me. And so they raise prices.

Sacks support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E55 · 2021-11-13 ▶ 50:15

Inflation is very simple. It's too much money chasing too few goods. And we have both sides of the equation going on right now. ... You've got this massive expansion in the amount of money. Look, too much money chasing too few goods creates this problem. It was very predictable. What I said back in May, this is what I was warning about.

Chamath support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E55 · 2021-11-13 ▶ 42:54

I think it's persistent. And the reason I think it's persistent is that all of these things are intertwined. ... Fertilizer makes corn more expensive. Lumber makes house prices more expensive. Chip prices makes the iPhone and cars more expensive or completely backlogged. ... If you go back to the original measurement, it looks like inflation in CPI is much more pernicious than we would otherwise think if we just look at the new CPI that we started to look at as of 1980

Friedberg support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E53 · 2021-10-30 ▶ 42:20

the psychology of managers and business owners and boards is such that they're saying, let's get ahead of the curve, let's raise rates. And as a result, you're seeing the trickling effect of inflation throughout the whole economy.

Sacks support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E53 · 2021-10-30 ▶ 43:53

Now, I don't think we're going to have hyperinflation here, but we're at 5.1% now. And if people think it's going to be worse next year, and the Fed's not going to raise rates, it could even be higher next year.

Chamath support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E53 · 2021-10-30 ▶ 45:25

It's not as if the inflation stops at 50,000 bucks a year. Everybody's wages rise. Consistent and persistent wage inflation will allow you to spend more because that's just what people do. ... The downstream implication is I think that prices will rise, but it will disproportionately hurt the middle class and the lower middle class.

Jason support ×1 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E51 · 2021-10-16 ▶ 8:11

So people are now making 35 bucks an hour and they were making 20 Now they got more disposable

Friedberg support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E51 · 2021-10-16 ▶ 8:53

And the cycle can actually go the wrong direction, where you have an inflationary spike that persists. ... So it is a real risk.

Sacks support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E51 · 2021-10-16 ▶ 26:54

Well, we do know that inflation is actually very high. ... We're at something like a 5.1% inflation rate. It's just about the highest since the late 70s, early 80s.

Chamath support ×3 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E51 · 2021-10-16 ▶ 7:36

And you can see in every episode before this, I was always consistently like, there is no inflation, you can fade the inflation trade. ... So I just think inflation is here. I think the labor shortage is going to get worse, not better.

Chamath support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E49 · 2021-10-02 ▶ 43:00

And I think then we can get back to really addressing what are all that $10 or $12 trillion? How does it show up in the economy? That's where the inflation comes from. ... But now my mindset is going to 18 months from now, midterm inflation. I think that's going to be what it's all about.

Sacks support ×2 ▲ on 🌍 Stimulus trillions show up as real inflation (and CPI has been understating it) E32 · 2021-05-13 ▶ 46:01

they pushed this insane $10 trillion agenda of taxes and increases in spending that are now overstimulating the economy that are causing inflation that are now creating interest rate increases.