Recession Frenzy Is Missing the Point: Jeffrey Tucker on Skewed Data and the Root Causes of Our Economic Woes

American Thought Leaders

The Epoch Times

Government, News, Politics

4.9 • 1.1K Ratings

🗓️ 12 August 2024

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

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Summary

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The end of the U.S. dollar gold standard in 1971 had unexpected, far-reaching consequences for the United States and its adversaries, ones that are central to today’s economic and geopolitical realities. What happened?

Jeffrey Tucker is the senior economics columnist at The Epoch Times and the founder and president of the Brownstone Institute.

“You’re gutting your entire industrial base and turning yourself into a whole country of indebted and stupid consumers. And you’re not making anything anymore. This is a crazy system,” said Tucker.

In this episode, we dive into what’s really going on with the U.S. economy. Are we in a recession? Are prices and unemployment rising or falling? What about domestic goods and imports? And what is the data really saying?

“You need to adjust this data by inflation, which is easy to say. But if you’re going to do that, you need an accurate reading of inflation. And if you don’t have that, you’re going to end up with inaccurate data,” said Tucker.

He claims that many financial indicators we use to measure economic growth are inaccurate.

“So now, we’ve got the highest rate of multiple job holders we’ve ever seen. Some people are holding two full-time jobs, which is extremely strange,” he said.

Views expressed in this video are opinions of the host and the guest, and do not necessarily reflect the views of The Epoch Times.

Transcript

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0:00.0	You're gutting your entire industrial base and turning yourself into a whole country of indebted and stupid consumers
0:06.8	and you're not making anything anymore. This is a crazy system.
0:10.4	The end of the US dollar gold standard in 1971 had unexpected far-reaching
0:16.2	consequences for the US and its adversaries.
0:19.6	Ones that are central to today's economic and geopolitical realities.
0:24.3	What happened?
0:25.5	Jeffrey Tucker is the senior economics columnist at the Epoch Times and the founder and
0:30.1	president of the Brownstone Institute. In this episode we dive into what's really
0:34.7	going on with the US economy. Are we in a recession or prices and unemployment
0:39.6	rising or falling? What about domestic goods and imports? And what is the data really saying?
0:45.1	So you need to adjust this data by inflation, but if you're going to do that, you need
0:49.8	an accurate reading of inflation. And thought leaders and I'm Yanya Kelleck.
0:59.8	Before we start I'd like to take a moment to thank the sponsor of our
1:06.2	podcast American Hartford Gold. As you all know inflation is getting worse. The
1:12.1	Fed raised rates for the fifth time this year,
1:14.8	and Fed Chairman Jerome Powell is telling Americans to brace themselves for
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	...

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