Stagflation is dual suffering: Inflation plus high unemployment. Stagflation is a combination rarely seen in periods of high unemployment since people have less money to spend on goods and services. Therefore, prices are supposed to go down, not up. So, Stagflation is a little bit like bootstrapping and defying gravity.
The last time we saw Stagflation was in the 1970s when inflation hit 13.3%, unemployment over 6%, and the Fed raised interest rates to 20% to slow down inflation. This killer combo caused Jimmy Carter to become a single-term President, ushering in the otherwise unlikely presidential choice of a conservative President. Ronald Reagan brought back the economy, cutting taxes, taming inflation, and bringing back jobs. The big question today is: Will Biden cut taxes and government spending to bring our economy back, or will he oversee what could become the worst period of Stagflation our nation has ever seen?
Our guest is Ron Paul, the leading voice of government restraint while in Congress. He warned about the results of runaway government spending, and here we are on the brink. Welcome, Dr. Paul.
Q&A:
- What exactly is Stagflation?
Answer: It’s inflation and high unemployment. It’s what we saw during the Jimmy Carter years. He oversaw a stagnant economy that ordinarily would cause prices to drop due to a poorer economy and less discretionary money, but instead, prices rose even during that stagnant economy, so it became the worst of both worlds.
- We see inflation rearing its ugly head again whenever we go to the grocery store or the gas pumps. Yet, is either of those categories even included in government inflation statistics?
Answer: No, they are not. The Fed uses what they refer to as Core Inflation, excluding food and gas. They say those prices are too volatile, so they ignore them. But it’s difficult to ignore hunger pains when wages are rising more slowly than the rate of inflation on food to eat and on gas to get to the grocery store.
- You have warned against government spending and that if it was not curtailed, we’d end up in the fix we’re in today. Tell us about that.
- You also have been no fan of engaging in foreign adventures. Today we’re embroiled in the Russian/Ukraine war. What would your advice be to Biden on that war?
- What is the likelihood of our seeing a recession?
- U.S. dollars are vastly inflated. Yet, the government seems to see no end to printing dollars. What will the end game look like if we continue to spend money at unprecedentedly high rates?
- Fiat U.S. Dollars are not backed by gold or anything of value. How can that be, and with crypto competing, what might this look like in the future?
Answer: U.S. Dollars are not backed by gold or other tangible assets. They are worth whatever you think of the government and politicians. Public opinion polls show that people believe their government overlords less than ever.
- So, if the public opinion of politicians and the paper money they represent are at an all-time low, does that have anything to do with why the actual inflation rate is rising so rapidly?
Answer: Absolutely. And we may see runaway inflation hit us in the face so quickly that we won’t know what hit us. And government raises to welfare benefits will not likely keep up with the rate of actual inflation, triggering higher crime, unemployment, and a myriad of misery.
- How are food and gas factored in government numbers for inflation and are they accurate?
Answer: Got a couple hours? Their numbers are understated. The true numbers for inflation are scary high.
- Tell us more about Stagflation.
Answer: Stagflation is the perfect storm of high gas prices, high grocery prices, high housing prices, and lower wages due to business stagnation.
- You and your company are firm believers in holding tangible assets like gold or silver. Tell us about your company, Birch Gold Group.
- Where may we get more information on Birch Gold Group and tangible assets? BirchGold.com
ABOUT DR. RON PAUL (for TV interviews)…
Dr. Ron Paul is a former Republican congressman from the 22nd congressional district of Texas. Ron Paul espoused strong conservative and Libertarian positions, including maintaining a fiscally responsible government. Before his involvement in the political arena, Dr. Paul was a physician. He is active as a writer and spokesperson for organizations representing his core beliefs, including honest money. He is currently conducting a media tour for Birch Gold Group.
About Brett Winterble (for Radio interviews):
After spending nearly a decade with Rush Limbaugh as a Producer, Brett Winterble began his own show in 2008.
Brett currently hosts The Brett Winterble Show.
A lover of Current Events, Sports, Entertainment, and stories that really matter to the local audience, Brett has high energy and boundless curiosity.
He graduated from Emerson College and American Military University with degrees in Political Communication and Homeland Security/Intelligence Studies. Brett is married and has two teenagers, a couple of cats, three birds, and some fish. His hobbies include travel, comedy writing, consuming motorsports, and barbecuing.
CONTACT: To schedule an interview with Dr. Ron Paul or Brett Winterble, email jerry.specialguests@gmail.com.
More Guests/Topics: https://specialguests.com/guests-topics/
