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As President Joe Biden dedicates to $6 trillion of stimulation over the next decade, worries of rising cost of living, or perhaps devaluation, from both extraordinary monetary and financial stimulation take spotlight in financial headlines.
Fiscal stimulus from the Biden Management consists of the $1.8 trillion American Families Strategy, the $2.3 trillion American Jobs Strategy and the $1.9 trillion American Rescue Plan.
Michael Lee, owner of Michael Lee Method, said that these run-away inflation worries are overblown, because the rate of money just isn't there.
" I don't believe, in the UNITED STATE, we're going to have significant rising cost of living ever before again. We've Japanified our country. What you have actually done via the endless printing of cash, it hyperinflates monetary possessions, and it crushes the rate of cash via the system. It's the velocity of money, in my viewpoint, that is the crucial chauffeur of rising cost of living," Lee informed David Lin, anchor for Kitco Information.
0:00 – Tax obligation walkings
5:27 – Raising minimum wage
7:50 – Rising cost of living
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Forget hyperinflation; Why the U.S. is becoming Japan, not Zimbabwe – Michael Lee (Part 1/2)
As President Joe Biden commits to $6 trillion of stimulus over the next decade, worries of inflation, or even hyperinflation, from both unprecedented monetary and fiscal stimulus take center stage in financial headlines.
Fiscal stimulus from the Biden Administration includes the $1.8 trillion American Families Plan, the $2.3 trillion American Jobs Plan and the $1.9 trillion American Rescue Plan.
Michael Lee, founder of Michael Lee Strategy, said that these hyperinflation fears are overblown, because the velocity of money simply isn’t there.
“I don’t think, in the U.S., we’re going to have meaningful inflation ever again. We’ve Japanified our country. What you’ve done through the endless printing of money, it hyperinflates financial assets, and it crushes the velocity of money through the system. It’s the velocity of money, in my opinion, that is the key driver of inflation,” Lee told David Lin, anchor for Kitco News.
0:00 - Tax hikes
5:27 - Raising minimum wage
7:50 - Inflation
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
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Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
