Valuetainment - April 26, 2023


Did The U.S. Government Just Manipulate The Inflation Rate？

Hosted by
Patrick Bet-David
Mentioned
Chicken
Why Indian Immigrants Become Rich and Raise Successful Kids How Angry Parents Can Fight The Woke School Agenda

Episode Stats


Length

7 minutes

Words per minute

220.53

Word count

1,683

Sentence count

139

Harmful content

Misogyny

1

sentences flagged

Toxicity

5

sentences flagged

Hate speech

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, we talk about inflation and why it's not as bad as people are making it out to be. Inflation has dropped to 6.5% from 6.9% and people are confused as to why.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 So a lot of people are concerned, confused, and wondering what the hell is going on with
00:00:03.900 inflation because they're saying inflation is going lower, but just in Q1, they announced
00:00:09.020 270,000 job cuts by U.S. employers up 396% above last year, same time, five times more.
00:00:19.100 The last time we had something like this, if you take out COVID, was 2009, yet people
00:00:23.600 are starting to realize just this year, two or three months ago, they changed something
00:00:27.940 in the Bureau of Labor Statistics on the way they measure inflation, and people are starting
00:00:32.880 to realize why they did it, to not get people to be concerned.
00:00:35.660 Wait till you see some of this data in today's episode.
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00:01:41.460 So they're telling us inflation today is 6.5%, give or take.
00:01:44.760 Yeah, inflation is fine.
00:01:45.580 It's 6.5%.
00:01:46.360 It's not really as bad as you think it is.
00:01:47.860 And a lot of people are confused saying, how is that even possible?
00:01:51.080 Because chicken's up 10.5%, butter is up 26%, milk is up 50%, egg 170% in certain markets,
00:01:59.180 coffee 13%, baby food 10%, rice and pasta 15%, bread 15%.
00:02:03.740 How is it possible if all of these things are up the way they are for you to say inflation
00:02:08.540 is only up 6.5%?
00:02:10.540 Yet if you go to the official versus the shadow stats of how we used to measure inflation,
00:02:16.740 you will notice if you look at the blue versus the red, the red shows that inflation is only
00:02:21.460 6.5%.
00:02:22.400 But blue, the top, shows we're somewhere between 13% to 14% inflation.
00:02:27.660 But this isn't the only thing that you have to see what happened.
00:02:30.240 Just this year, if you go on the BLS website, U.S. Bureau of Labor Statistics, they announced
00:02:34.300 something very quietly.
00:02:35.560 I don't know if you heard about it or not.
00:02:36.720 Matter of fact, I'd love to know if you heard about it, if you did, comment below.
00:02:39.740 It said, beginning with the January 2023 index, scheduled for publication on February 14,
00:02:44.980 2023, BLS plans to update the spending weights in the calculation of the CPI every year
00:02:51.520 instead of every two years.
00:02:53.440 So you may say, I don't get it.
00:02:55.560 What's the big deal with that?
00:02:56.580 Let me explain to you what the big deal of this and just kind of see the optics.
00:02:59.860 If you look at the historical rates, we're just going to go back five years.
00:03:02.840 Do you see that?
00:03:03.460 How it goes January, February, March, all the way down to December and the years.
00:03:06.220 So the old way of measuring inflation, let's just look at February of 2023.
00:03:10.480 It says it's 6%, right?
00:03:12.480 So if we do the old way of how much inflation is higher, you would measure from 6% to February of
00:03:19.200 2021, and they would have to say inflation is up 4.3% than what it was two years ago versus
00:03:27.140 the new way of measuring it.
00:03:29.760 They have to go from February, which is 6% to last year, which was 7.9%.
00:03:35.040 And they get to say the magical words, look at our policies.
00:03:38.520 Inflation is down 1.9%.
00:03:41.180 And you and I sit there on TV and we hear a president say this.
00:03:44.500 You say, I don't understand how, how can you say something like this?
00:03:48.800 Well, it is because of our phenomenal policies, inflation is down and we have to say, all
00:03:54.260 right, I'm just not feeling it.
00:03:55.720 Maybe it's me.
00:03:56.480 Maybe others are not feeling it. 0.98
00:03:57.740 And you start thinking like you're being maybe gaslighted or you're the dummy. 0.97
00:04:01.120 You're not the dummy.
00:04:01.960 You're being gaslighted because they changed the way they measured certain data.
00:04:05.860 So somebody may say, who's this affecting?
00:04:07.660 I mean, again, the person that's making money, they're probably not feeling this, but the person,
00:04:11.480 the low and middle income family, they're feeling this the most.
00:04:13.860 Let me show you a couple other charts here to look at.
00:04:15.480 So here's a chart of how much food prices increase every year since 1990.
00:04:20.360 If you look at this, what year is the highest prices increasing this year?
00:04:24.260 And it's not a little bit.
00:04:25.440 It's astronomical compared to any other year in the last 33 years.
00:04:29.320 If you go to shelter, look how much we're up in shelter is 7.9%.
00:04:33.380 The average person cannot afford to have 7.9% of their shelter costs going up.
00:04:38.560 Transportation, 14.6%.
00:04:41.160 Again, 33 years, even if you look at some of the things, the behavior of what you and I are doing,
00:04:46.160 these things increasing, beef prices are going up.
00:04:49.200 Most Americans, we love beef.
00:04:51.100 We love our burger.
00:04:51.940 We love our steak.
00:04:52.620 We love all of that.
00:04:53.360 But beef prices are going so high that Americans are saying, we can't afford to buy beef anymore.
00:04:57.920 We're starting to eat more chicken than we ate beef.
00:05:00.040 Look at this chart here on what we would consume.
00:05:02.180 From 1965 till today, beef has gone down because prices of beef have gone up.
00:05:07.120 But look at chicken.
00:05:07.900 Chicken's gone up.
00:05:08.740 Turkey is flat.
00:05:09.680 Pork is flat.
00:05:10.500 This is causing you and I to change our consumption behavior.
00:05:15.060 This is causing people right now in the tech industry to say, how am I going to replace that income?
00:05:19.980 Some people are sitting around saying, how am I going to increase my income?
00:05:22.900 The one thing is for sure, people are looking at what the media is telling us that inflation is going to be fine.
00:05:28.620 Yet we're seeing layoffs up 396% for job cuts.
00:05:33.000 And they're saying, how come we're not being told the truth?
00:05:35.120 So there's a difference between what the White House tells us, what mainstream media tells us, versus what you're actually feeling.
00:05:40.020 Trust what you're feeling.
00:05:41.840 These numbers are real.
00:05:43.480 Prices are going up.
00:05:44.840 So you may be saying, Pat, what's the purpose of this video?
00:05:47.560 Is it just to scare us?
00:05:48.800 What do I do about it?
00:05:49.840 Well, there's a few different things you can actually do about it.
00:05:52.180 One, create awareness.
00:05:53.840 Talk about this.
00:05:54.780 Talk about it amongst your community, your peers, online, social, Twitter.
00:05:59.280 Tag everybody you can. 0.75
00:06:00.720 If you say inflation is going lower, why is this going on?
00:06:04.220 Did you see the BLS on the way you're measuring?
00:06:06.520 Why did you do it?
00:06:07.520 Why did we do that?
00:06:08.560 Educate the people around you.
00:06:09.740 The louder you and I, we the people are, eventually, they're going to have to pay some attention to what you have to say about it, right?
00:06:14.860 That's number one.
00:06:15.480 Second thing, this is not the time to splurge.
00:06:17.820 It's never the time to splurge.
00:06:19.060 But this is definitely not the time to splurge and not pay attention to what you're doing.
00:06:22.240 Go through your credit card.
00:06:23.520 See some of the old memberships that you have that you're paying for.
00:06:25.560 Why am I paying for this thing?
00:06:26.700 $4.99 a month, $9.99 a month, $18 a month.
00:06:29.160 Cut a lot of that stuff.
00:06:30.180 This is the season to audit all your credit card, your check card, to see exactly where you're wasting money.
00:06:36.000 Audit yourself before the IRS audits your finances.
00:06:39.680 Number three, increase your market value to the best of your ability today.
00:06:42.940 Skills, market value, whatever it may be. 0.99
00:06:45.060 Don't just sit there and say, well, you know, it sucks. 0.90
00:06:47.600 There's nothing I can do about it. 0.81
00:06:48.700 There's a lot you can do about it by increasing market value.
00:06:50.780 And the way you do that is when you bring value to a company you're working at, they're going to have to sit around and say, this guy's very valuable to us.
00:06:57.960 Look what he's doing.
00:06:58.440 He made money for us here and she made money for us there. 0.73
00:07:01.160 Without her, we would have never done this.
00:07:02.500 Without him, we would have never done this.
00:07:03.700 The more you're able to do that in the marketplace, your value goes up.
00:07:07.460 So here's my challenge to you at the end.
00:07:09.520 This is a video you ought to watch with your family and have a conversation started.
00:07:14.100 This is like, hey, what do you think about this?
00:07:15.700 Did you know about this?
00:07:16.640 Did you not know about this?
00:07:17.680 Talk about these things together with others.
00:07:19.720 But if you got value from the video, give it a thumbs up.
00:07:22.240 Subscribe to the channel.
00:07:23.160 I got another video I did May of 2021 talking about the dangers of inflation for the future of America.
00:07:30.980 I went into it very, very deep.
00:07:32.460 This is back in the days where we would do things on the board.
00:07:34.480 If you've never seen that, click here to watch it.
00:07:36.700 Take care, everybody.
00:07:37.420 Bye-bye, bye-bye.