#1000 Inflation Is Out Of Control

Today is the episode #1000 of the Pomp Podcast. I felt it would be appropriate to talk about the most important topic in our economy today, Inflation. The Inflation number in the United States hit a 40 year high this past week coming in at 8.6%. In this episode, I break down the inflation numbers and explain why this will be so damaging to the working class in America. Thank you all for listening to the podcast these past few years. I appreciate all of your support! ======================= FTX. US is the safe, regulated way to buy and sell Bitcoin and other digital assets. Trade crypto with up to 85% lower fees than top competitors. There are no fixed minimum fees, no ACH transaction fees, and no withdrawal fees. FTX. US is also the only leading exchange that supports both Ethereum and Solana NFTs. Download the FTX App today and use referral code “Pomp” to earn free crypto on every trade over $10. The more you trade, the more you earn. ======================= The number one name in NFT domains and the world’s most powerful wallet are teaming up to bring something new to the crypto and Web3 world: Your name dot blockchain. That’s right, Unstoppable Domains and Blockchain.com partnered to create NFT domain names ending in dot blockchain. It’s the perfect ending to show that you’re a believer in a decentralized future. The blockchain.com community can get one right now, for free from within their wallets. Free NFT domains provide all the benefits of premium Unstoppable Domains, including fee-free, lifelong ownership. Don’t have a blockchain dot com wallet? No worries, these new domains are available to everyone. Either sign up for a free blockchain.dot com wallet or visit Unstoppable Domains dot com to buy your domain today, starting as low as $5. ======================= Crypto is all about giving the power back to the people and our sponsor, Pipe, is doing that in a big way. Pipe is the world’s first trading platform that allows you to trade recurring revenue streams for up-front capital. And with Pipe’s new API, companies with recurring revenue can build seamless, embedded financing options into their platforms. One of the most interesting uses for Pipe’s new API right now is Compass Mining’s “Mine Now, Pay Later” which powers payment plans on bitcoin mining hardware so more miners can start or scale with a smaller up-front investment. Whether you’re looking for mining hardware or scaling any business with recurring revenue, check out Pipe to access growth capital with: No loans. No dilution. No restrictive covenants or warrants. Just growth on your terms And right now, Pomp Podcast listeners can access tens of thousands of dollars even millions fee-free for 12 months. Whether you are a bitcoin mining company looking to enable financing for your customers or a SaaS, DTC, or any business that has recurring revenue, sign up at http://pipe.com/pomp to start trading today.

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:02Anthony Pompliano?

  What's up everyone, this is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp Podcast, simply the best podcast out there. Now let's kick this thing off. Today's podcast is episode 1000, and I thought that it would be timely for us to spend some time talking about the most important topic of the current decade, inflation. This episode is brought to you by FTX US. FTX.us is the safe, regulated way to buy and sell Bitcoin and other digital assets. You can trade crypto with up to 85% lower fees than top competitors. There are no fixed minimum fees, no ACH transaction fees, and no withdrawal fees either. FTX.us is also the only leading exchange that supports

• 0:42Anthony Pompliano?

  both Ethereum and Solana NFTs. Download the FTX app today and use referral code Pomp to earn these free crypto on every trade over $10. The more you trade, the more you earn. Go download the FTX app today and use referral code Pomp. This episode is brought to you by Unstoppable Domains. They recently launched an awesome feature to level up your unstoppable domains profile. It's called badges. They translate wallet activity into achievements, so celebrating, reliving, and sharing your crypto story has never been easier. Before, these stories were buried in transaction logs that were hard to read, making them difficult to find and understand as well. But since unstoppable domain badges are rewarded based on your wallet activity, they're a super fun, easy

• 1:24Anthony Pompliano?

  way to build on-chain reputation just by doing what you do, like supporting NFT projects, collecting domains, or holding crypto. Unstoppable domain owners can activate badges from their account profile page right now. If you haven't minted an NFT domain yet, go to unstoppabledomains.com right now to own your name, starting as low as $5. Again, head over to unstoppabledomains.com right now to get started. Today's episode is brought to you by Pipe. Crypto is all about giving the power back to the people, and our sponsor Pipe is doing that in a big way. Pipe is the world's first trading platform that allows you to trade recurring revenue streams for upfront capital. And with Pipe's new API, companies with recurring revenue can build seamless, embedded financing options into their platforms. One of the most interesting uses for Pipe's new API right now is Compass Mining.

• 2:10Anthony Pompliano?

  Mine now, pay later, which powered payment plans on Bitcoin mining hardware. So more miners can start or scale with a smaller upfront investment. Whether you're looking for mining hardware or scaling any business with recurring revenue, check out Pipe to access growth capital with no loans, no dilution, no restrictive covenants or warrants, just growth on your terms. And right now, Pomp Podcast listeners can access tens of thousands of dollars, even millions, fee-free for 12 months. Whether you are a Bitcoin mining company looking to enable financing for your customers, or a SaaS, DTC, or any business that has recurring revenue, sign up at pipe.com/pomp. Again, pipe.com/pomp to start trading today.

• 2:55Speaker 01

  Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only.

• 3:18Anthony Pompliano?

  Inflation in the United States was reported at 8.6% this morning. This is the fastest year-over-year growth in over 40 years. The most concerning part of this report is that economists and market analysts believe that inflation had peaked in March at 8.5% and was going to start trending downward in April and May. We saw 8.3% in the April report, but the May number surprised these experts to the upside. Inflation hasn't peaked and is continuing to accelerate higher. There is plenty of debate on why inflation is occurring. Is it undisciplined monetary and fiscal policy? Is it supply chain disruptions? Is it the Russia-Ukraine conflict? The economy is a complex machine, so each of these situations likely plays a role.

• 4:01Anthony Pompliano?

  Rather than debate how we got here, we need to be focused on what we can do moving forward. The average American family is getting decimated financially right now. The cost of eating food at home has increased 11.9% over the last 12 months. Gasoline is up nearly 50% in the same timeframe. That is almost impossible for a family to withstand, especially when wages aren't growing at the same rate. But this data is not telling the full story. Take gasoline as an example. Prices have doubled in the last 18 months. If you look at shelter, it is being reported at a 5.5% annual increase. That doesn't make a lot of sense, though. Rents are up more than 15% nationally, and real estate is up more than 20%.

• 4:44Anthony Pompliano?

  The lower official number is the result of methodology that doesn't accurately reflect reality. Speaking of methodology, many people may not realize that the last time inflation was this high in America, the methodology and calculation of the CPI metric was changed. In layman's terms, CPI was historically calculated by simply measuring the increase in price of various goods over time. If an item cost $1 a year ago, and now it costs $1.10, the inflation reading would be 10%. Starting in 1980, and numerous times afterwards, the CPI metric began to change as the Bureau of Labor Statistics attempted to more accurately measure inflation. These changes included in an assumption that people would stop buying expensive items

• 5:27Anthony Pompliano?

  during high inflation and swap them out for lower-cost items. There is also a focus on incorporating changes in quality into the calculation. Regardless of whether you think these changes are good or bad, it is hard to see a world where the average American family is only experiencing the numbers that are being reported officially. There are other measurements of inflation that we can look at. Trueflation is a private market attempt to more accurately measure inflation, and they are reporting just under 11% over the last 12 months. This doesn't mean they are right, but it does mean that they are showing different numbers than the official metrics. This brings me to my last point. Wages in America have failed to keep up with the historic levels of inflation. In fact, the inflation-adjusted average hourly earnings of American workers have been

• 6:12Anthony Pompliano?

  negative for more than a year. The cost of goods and services are increasing, while wages are not keeping pace. This is disastrous for millions of families. These folks don't want to take over the world. They simply want to build a life of happiness and financial security for their loved ones. Without the right education, the bottom 45% of Americans get financially damaged during these high inflation times. They have no investable assets and then live with 100% of their life savings in US dollars. The Federal Reserve is backed into a corner now. You have G... you have Q1 GDP contracting. Inflation hasn't subsided even though the Fed has been increasing interest rates and conducting quantitative tightening. They don't have many more options, other than to simply put their foot on the gas.

• 6:57Anthony Pompliano?

  The Fed could try to accelerate the interest rate increases, both in speed and severity, along with accelerate quantitative tightening. I'm not sure that they will do it, but there aren't many other avenues to pursue. If the Fed does nothing, the real situation on the ground is not going to get any better for the average American. Inflation reports may start to look like numbers are falling, but much of that will be due to the base effect of increasing inflation, starting last summer. People need help. Undisciplined monetary and fiscal policy created this mess. We just have to be careful that a continuation of bad decision-making doesn't create an even worse situation. I hope each of you has a great day, and I hope that you enjoyed these episodes. Inflation is one of the most important topics of the current decade, and for episode 1,000,

• 7:42Anthony Pompliano?

  I thought it was the perfect thing for us to cover. Thanks so much for listening to today's episode. I really hope you guys enjoyed this one. Make sure you subscribe on Apple, Spotify, or your favorite podcast player. And if you're looking to try to transition to get a new job in the Bitcoin or crypto industry, we've got you covered. Head over to pompscryptocourse.com. We've developed a curriculum with the top teams across the industry. It's a three-week intensive training program with over 50 events packed into that three-week time period. Go to pompscryptocourse.com to learn more, and I'll meet you guys for the next episode.