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Harrington Capital Management founder Kyle Harrington on the rising prices facing consumers.
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You very much my next guest says.
This trend is not good for the economy because high prices may help companies but it ends up hurting the folks who are forking over the cash cow -- is founder -- Capital management and he joins me now so how first of all we have this right corporate profits are up because they're passing on -- inflation plots to us.
David the medicine has become the poison.
Okay out of Washington DC.
The poison is the money supply has increased by 200% in the last two years okay.
The value of your dollar is worth less the purchasing power of your dollar is worth less okay.
These companies like McDonald's Kimberly-Clark they can increase their prices but the last time I checked.
Wages are not increasing.
It will we're not decreasing the unemployment rate at any sort of record levels so yes we're in the inflationary period we're gonna continue to be in an inflationary period and the last I checked that the gas -- Guess is roughly four dollars and fifty cents -- some parts of the country so.
Inflation -- here and it is here to stay going into the election.
And yet the Federal Reserve board continues and of course the president parents of fed reserve board say no no if you if you put it altogether an amalgam of all the prices because.
Electronics keep getting cheaper etc.
we don't have inflation yes vote is up yes gas is up but you -- -- those prices -- with everything else what are you set.
David David this is what I say it's the same thing with the unemployment rate.
Okay they its Fuzzy accounting I mean I went to Wharton business school you don't need to go to Wharton business school to figure out the fact that.
In the Consumer Price Index and the inflation -- not 3% when you strip out electronics and not Staples in the economy and you putting.
Food you putting energy putting health care and you look at that inflation rate it's closer to 8%.
Donald Trump and Ron Paul and pat on the table on this for awhile and there right well if you're right by the way this is a Ponzi scheme in all Ponzi schemes eventually come to -- and how will listen when -- This is gonna end with high inflation rates okay.
Real estate prices are not going up and if -- it where we're advising investors -- Carrington capital management to look at precious metals.
To look at alternative currencies.
Like Canada okay or like northern European countries like Norway.
We're allocating assets to death to those currencies to protect and preserve assets going forward -- when your forced to -- the loonie you know you're in trouble Kyle Perry didn't.
Thank you very much good to see -- calendar --
