ReasonTV | What’s actually wrong with the economy? | Kyla Scanlon | Just Asking Questions, Ep. 38 @ReasonTV | Uploaded 1 month ago | Updated 6 hours ago
Economist and author Kyla Scanlon discusses inflation, economic narratives, and the housing market. Episode 38
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YouTube: http://youtube.com/reasontv
Apple: podcasts.apple.com/us/podcast/just-asking-questions/id1719355507
Spotify: open.spotify.com/show/5SpySKAH3LuVyxXk0MF7tl
Text and links to sources available here: reason.com/podcast/2024/08/29/kyla-scanlon-whats-actually-wrong-with-the-economy
How's the economy actually doing?
In 2022, economists forecasted that we'd be in a recession by now. Did it ever actually happen, though? Prices got higher, interest rates ticked up, but mass layoffs never really happened and gross domestic product growth chugged on. People mostly weathered the turbulence.
Joining us today to talk about all that and to speculate on what effects former President Donald Trump and Vice President Kamala Harris' proposals might have on the economy is Kyla Scanlon. She worked as a macroeconomic analyst at Capital Group before founding Bread, a financial education company. She has built a large social media following by teaching finance and economics via YouTube, Instagram, Substack, and TikTok. She recently published her first book In This Economy: How Money and Markets Really Work.
As we came out of the pandemic, we experienced inflation beyond what most millennials have seen in their lifetimes. The Federal Reserve hiked interest rates to attempt to achieve a soft landing—using the power of the central bank to cool a hot economy without causing a recession. We start by asking Kyla: "We're in an election year. How do you think voters should perceive the current state of our economy?"
Sources referenced in the conversation:
Financial Times: 2022 prediction of a recession. ft.com/content/53fcbbf1-39e3-483c-a6f2-b0de432ed5a3
Real Gross Domestic Product (GDPC1) | FRED | St. Louis Fed fred.stlouisfed.org/series/GDPC1
COVID did not rescue the Armageddonists from underperformance purgatory privatebank.jpmorgan.com/content/dam/jpm-wm-aem/global/pb/en/insights/eye-on-the-market/the-armageddonists-revisited.pdf
Just Asking Questions with Nate Silver youtu.be/otxRaTbs8hU?list=PLBuns9Evn1w9K02WT8x-gzSI-UdeeXFG9
University of Michigan: Consumer Sentiment (UMCSENT) | FRED| St. Louis Fed fred.stlouisfed.org/series/UMCSENT
12-month percentage change, Consumer Price Index bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm
FiveThirtyEight: Which Economic Indicators Best Predict Presidential Elections? fivethirtyeight.com/features/which-economic-indicators-best-predict-presidential-elections
Kyla Scanlon: Why We Have a Housing Crisis kyla.substack.com/p/why-we-have-a-housing-crisis
Homeownership rates among Gen Z, Millennials, and Gen X. redfin.com/news/homeownership-rate-by-generation-2023
Harris-Walz economic agenda press release https://mailchi.mp/press.kamalaharris.com/vice-president-harris-lays-out-agenda-to-lower-costs-for-american-families
Harris press release about her "$25k downpayment assistance" plan https://mailchi.mp/press.kamalaharris.com/vice-president-harris-lays-out-agenda-to-lower-costs-for-american-families
Kyla Scanlon: The TikTok Girl is Right: Modernity and the 9-to-5 kyla.substack.com/p/the-tiktok-girl-is-right-modernity
Chapters:
00:00 Introduction
01:14 Kyla's TikTok about defaulting on the debt
02:20 Are we in a recession?
03:45 how did we get into this inflationary state?
07:35 What does Kyla think of Austrian Economics?
10:03 Measuring the "Vibecession"
15:56 Rising unemployment: what does it mean?
19:38 Bidenomics
21:38 national debt
26:03 Helping people care about the economic situation
29:00 Why can’t young Americans afford homes?
45:41 Kyla's CONCERNS about home insurance
01:03:29 Reactions to Gen Zer crying about working 9-to-5
01:14:05 Final Question
Economist and author Kyla Scanlon discusses inflation, economic narratives, and the housing market. Episode 38
Subscribe
YouTube: http://youtube.com/reasontv
Apple: podcasts.apple.com/us/podcast/just-asking-questions/id1719355507
Spotify: open.spotify.com/show/5SpySKAH3LuVyxXk0MF7tl
Text and links to sources available here: reason.com/podcast/2024/08/29/kyla-scanlon-whats-actually-wrong-with-the-economy
How's the economy actually doing?
In 2022, economists forecasted that we'd be in a recession by now. Did it ever actually happen, though? Prices got higher, interest rates ticked up, but mass layoffs never really happened and gross domestic product growth chugged on. People mostly weathered the turbulence.
Joining us today to talk about all that and to speculate on what effects former President Donald Trump and Vice President Kamala Harris' proposals might have on the economy is Kyla Scanlon. She worked as a macroeconomic analyst at Capital Group before founding Bread, a financial education company. She has built a large social media following by teaching finance and economics via YouTube, Instagram, Substack, and TikTok. She recently published her first book In This Economy: How Money and Markets Really Work.
As we came out of the pandemic, we experienced inflation beyond what most millennials have seen in their lifetimes. The Federal Reserve hiked interest rates to attempt to achieve a soft landing—using the power of the central bank to cool a hot economy without causing a recession. We start by asking Kyla: "We're in an election year. How do you think voters should perceive the current state of our economy?"
Sources referenced in the conversation:
Financial Times: 2022 prediction of a recession. ft.com/content/53fcbbf1-39e3-483c-a6f2-b0de432ed5a3
Real Gross Domestic Product (GDPC1) | FRED | St. Louis Fed fred.stlouisfed.org/series/GDPC1
COVID did not rescue the Armageddonists from underperformance purgatory privatebank.jpmorgan.com/content/dam/jpm-wm-aem/global/pb/en/insights/eye-on-the-market/the-armageddonists-revisited.pdf
Just Asking Questions with Nate Silver youtu.be/otxRaTbs8hU?list=PLBuns9Evn1w9K02WT8x-gzSI-UdeeXFG9
University of Michigan: Consumer Sentiment (UMCSENT) | FRED| St. Louis Fed fred.stlouisfed.org/series/UMCSENT
12-month percentage change, Consumer Price Index bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm
FiveThirtyEight: Which Economic Indicators Best Predict Presidential Elections? fivethirtyeight.com/features/which-economic-indicators-best-predict-presidential-elections
Kyla Scanlon: Why We Have a Housing Crisis kyla.substack.com/p/why-we-have-a-housing-crisis
Homeownership rates among Gen Z, Millennials, and Gen X. redfin.com/news/homeownership-rate-by-generation-2023
Harris-Walz economic agenda press release https://mailchi.mp/press.kamalaharris.com/vice-president-harris-lays-out-agenda-to-lower-costs-for-american-families
Harris press release about her "$25k downpayment assistance" plan https://mailchi.mp/press.kamalaharris.com/vice-president-harris-lays-out-agenda-to-lower-costs-for-american-families
Kyla Scanlon: The TikTok Girl is Right: Modernity and the 9-to-5 kyla.substack.com/p/the-tiktok-girl-is-right-modernity
Chapters:
00:00 Introduction
01:14 Kyla's TikTok about defaulting on the debt
02:20 Are we in a recession?
03:45 how did we get into this inflationary state?
07:35 What does Kyla think of Austrian Economics?
10:03 Measuring the "Vibecession"
15:56 Rising unemployment: what does it mean?
19:38 Bidenomics
21:38 national debt
26:03 Helping people care about the economic situation
29:00 Why can’t young Americans afford homes?
45:41 Kyla's CONCERNS about home insurance
01:03:29 Reactions to Gen Zer crying about working 9-to-5
01:14:05 Final Question
