September 26, 2008
No Fear
What with Paulson's Plunder in motion, this conversation on the economy with Jeff Madrick, recorded Monday of last week, is a bit overtaken by events. But not entirely, by any means. Jeff is a sensible, practical, and passionately eloquent left economist who's been around for a long time. His general disposition (including political observations) remains as true today as it was when we spoke and as it no doubt will continue to be going forward. Indeed, I find the distance of a week here a very reassuring reminder that there's no need to panic. Thanks, Jeff! Total runtime an hour and twelve minutes. Invest and prosper. ☺
Comments
Did I really hear a conversation about how inflation is not a bad thing for the lower and middle class?
Inflation, which is now over 13% in real terms, eats up the average person's paycheck much faster than any increases in wages. Save for college? Forget it. Retirement? — you're screwed. Medical? better not get sick.
The rich can afford the investment strategies and tax avoidance schemes which overcome, with some leveraged investments even benefiting from inflation.
Jeff needs to leave the ivory tower and walk down main street some time.
Posted by: 8isis8
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October 4, 2008 6:34 PM