The impact of inflation on middle class and pretty much everyone!
James AltucherNovember 14, 202300:01:00

The impact of inflation on middle class and pretty much everyone!

Understanding the Impact of Inflation on the Middle and Working Class

In this video, we tackle the detrimental effects of recent inflation on the middle and working classes, particularly those earning around 15 to 20 dollars an hour. We examine how the cost of essential things for these wage earners, such as fuel, transportation, and housing, have dramatically increased by not just single digits but dozens of percent. It's explained how government overspending in the form of stimulus, while not necessarily malevolent and having received bipartisan support, has played a significant role in instigating this inflation. The discussion wraps up with the mention of current methods being adopted to combat inflation, including the raise in interest rates and quantitative tightening.

00:00 Introduction to Inflation
00:00 Impact of Inflation on Middle Class
00:31 Government's Role in Inflation
00:38 Bipartisan Contribution to Inflation
00:50 Consequences of Overstimulation
00:53 Solutions to Curb Inflation

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