Inflation Reduction Act, Consumer Credit and Alpha as Sh*t

The recently passed Inflation Reduction Act of 2022 has been designed to make a down payment on deficit reduction in order to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. The bill also allows Medicare to negotiate for prescription drug prices and extend the expanded Affordable Care Act program for three years, through 2025.

In today's episode of The Higher Standard, Chris offers up his thoughts on the Inflation Reduction Act - specifically, why he thinks it's a terrible idea. Chris and his co-host also discuss the sudden appearance of the Vice President to act as tie-breaker to get the bill passed, as well as the interesting timing of the entire process.

In this episode you'll discover:

- Why the Inflation Reduction Act is based on a flawed understanding of the actual causes of inflation (i.e. not consumers).

- The interesting relationship between inflation and unemployment figures.

- Why total household debt rose to a record 16.2 trillion last quarter as credit card spending posted the biggest yearly spike in more than 20 years.

This is a show you do not want to miss! Join Chris for this fascinating conversation.

Enjoy!

What You’ll Learn in this Show:

• Why Chris believes that a misunderstanding of the causes of inflation has led to the creation of the deeply flawed Inflation Reduction Act.
• Why the relationship between inflation and unemployment figures is worthy of note (and study).
• The rise of total household debt while credit card spending spikes higher than it has in 20 years.
• And so much more...