Ep 66: The High Cost of Inflation and the War in Ukraine

The High Cost of Inflation and the War in Ukraine  

In this episode, I explain how inflation is an increase in the quantity of money, and how that growth of the money supply ultimately leads to higher prices and hurts consumers. We explore how many Americans are feeling increased financial insecurity, how the Federal Reserve controls the American money supply, and why ‘price inflation’ is a term used by politicians and bureaucrats to place the blame for higher prices on businesses instead of their manipulation of the monetary system, taxes, and regulation. We then explore how the military industrial complex also creates higher prices, since the government must tax and inflate to pay for our wars. We play a clip of president Eisenhower’s famous ‘Military Industrial Complex’ speech, and reveal how the War on Terror and the war in Ukraine benefits the politicians, bureaucrats, and defense contractors while hurting the rest of us. We then take a brief look at the Bible and how we can think about these issues theologically.

Additional Resources

Robert Aro, Fewer Americans Say They Are Doing Okay Financially: https://mises.org/power-market/fewer-americans-say-they-are-doing-okay-financially

Eric Boehm, COVID Stimulus Spending Played ‘Sizable Role’ in Inflation: https://reason.com/2023/02/02/covid-stimulus-spending-played-sizable-role-in-inflation/

Ludwig Von Mises, On Money and Inflation: https://a.co/d/760ohVE

Walt Zlotow, Billions in Weapons, Zero Negotiations, Reveal Real US Agenda in Ukraine: https://www.antiwar.com/blog/2022/04/29/billions-in-weapons-zero-negotiations-reveal-real-us-agenda-in-ukraine/

Cost of the 20-Year War on Terror: https://www.brown.edu/news/2021-09-01/costsofwar

Lloyd Austin Raytheon Connection: https://www.opensecrets.org/revolving/rev_summary.php?id=82688