U.S. Debt Crisis Signals HISTORIC COLLAPSE with John Rubino
Вставка
- Опубліковано 8 чер 2024
- Subscribe to John Rubino's Substack: rubino.substack.com
The U.S. debt crisis has never been worse and signals a historic financial collapse. John Rubino, Macro-Analyst and Co-Author of The Money Bubble, provides information on what we should expect in the coming months and years ahead.
#useconomy #housingmarket #usrecession
Todd Sachs is a Maryland Real Estate Broker and not a Lender, CPA, Attorney, or Financial Advisor.
Any information provided in this and any of Sachs Realty's videos and/or descriptions are for entertainment purposes only and not to be construed as broker representation, legal, financial or tax advice. All content written, spoken or implied is for informational purposes and deem to be accurate, but not guaranteed. It is your sole responsibility to verify any and all information for accuracy and correctness.
Todd Sachs or Sachs Realty is not representing you unless you have a written representation agreement. This is not an advertisement for a property for sale, and if you're currently represented by another Real Estate Brokerage, this is not an attempt to solicit your representation.
Sachs Realty is REAL ESTATE WHEVER YOU ARE!
Looking to buy or sell? We efficiently assist buyers, sellers, landlords and tenants in Maryland with both residential and commercial real estate services.
NOT IN MARYLAND? We offer nationwide assistance to buyers and sellers through our PREFERRED BROKER REFERRAL of great real estate professionals like us!
If you're in need of residential or commercial assistance, you can always expect timely, reliable and top-notch service from Sachs Realty or any referral agent we recommend.
What's your real estate need? We want to hear from you! Email Todd Sachs directly at ts@sachsrealty.com with your inquiries.
Main Office: Sachs Realty 443-318-4514
Maryland Broker License Number 607720
Equal Housing Opportunity
Excellent show. John Rubino is a 100% class act.
No he isn’t a good host. First the woman guess did not say anything. Second they brought up nothing about our manufacturing sector. That we need to start making things with out these corporate oligarchs getting involved.
John Rubino is a 100% class act.
Rubino is a great listen to. Professional, he really knows his stuff. ...appreciate you sir!!
I usually don’t go for “horror movies”, but I had to watch this interview, because I am doing my best to prepare for the comming financial apocalypse. Rubino’s excellent analysis of the inevitable financial disaster should be taken seriously, and used to prepare ourselves and our families as much as possible.
Thank you for your valuable information, great interview..
My father told me that when he was a young man growing up in New York in the 1930s, he had observed people with large bags of money, going for a loaf of bread. People say we can’t get that bad, but they didn’t think it could get that bad during the Great Depression - but it did.
My great grandmother gave me a cookbook from the great depression Era. It includes ingredients such as squirrel and possum bc there was no $ to buy food.
@@privatecitizen4001 that’s a great item to have from your G-grandmother showing how bad things were during that time. Hold on to it, it may come in handy.
That is what happened in the Weimar Republic in Germany in the 1930s.
There was hyper inflation during the depression?
I also am dumbfounded when I hear people say that can't happen here, we're too big to fail. And my immediate reponse is I'm sure every major society that's collapsed since the dawn of civilization thought the same thing. It just take longer to happen and when it does its much more damaging
Wife and I have begun praying for you as your show is invaluable!
John Rubino is one of my favorite guests that you have had on. Please have him back!! Great show.
Ditto.
Man.. John gets it.. excellent interview.. folks like this makes me glad I'm doing what I'm doing..
“The borrower is a slave to the lender.”
So you buy the $800,000 house, put 20% down, you finance $640,000 at 6.5%. You plan to refinance if rates drop, then the bubble pops. Rates drop to 4% at the same time values plummet to $400,000. You won’t be able to find a lender who will loan you $640 on your home valued at $400,000. You loose and you loose.
The next problem is what happens to the local government who keeps increasing your property tax based on the inflated value. The local government is used to big annual incomes from taxes. The inflated taxes go away, or should. It is time for the counties to take a deep dive and tighten their belts and drop all the special deductions on taxes if your taxed citizens pay reduced rates because they are a teacher or a fireman, a policeman, a widow, over 65 years old, blind, whatever. This next 3 years will be exciting.
@johndrago8370 I'm not the brightest when it comes to this stuff, but maybe people should stop buying houses outside of their means? Or am I not understanding this correctly?
@@evorussoulseeker9290 you sound bright to me. You simplified my statement. What I was saying was as interest rates go up less people qualify for loans and less people qualifying for loans bring home prices down. Lower prices mean lower home values. Loans are based on values. In my comment I was saying the lender will not loan the 640K on a home whose value drops to 400K necessitating the person refinancing bringing $220,000 plus closing costs to the transaction to refinance the house he originally bought for $800,000.
A slogan Realtors often use when trying to sell a hose and make their commission is to marry the house and date the rate. A disaster for the buyer but a win-win for the seller and the realtor because of what I just explained. Prices likely will be coming down in the next 2 years. Rent till they do and you will be the winner.
And lose!
Current generations do not understand this scenario is very possible. It happened in the 70's. People tried to walk away from their mortgages. However, most banks had a clause which stated you will always be responsible for the balance of the mortgage whether the home's value is higher or lower than the mortgage owing.
@@evorussoulseeker9290 nah, you're right this guy wants to reap the gains and subsidize the losses.
Remember, WHEN YOUR HOUSE GOES DOWN IN VALUE, ITS YOUR 20% THAT GOES DOWN 1ST, NOT THE BANKS ..
A comment on farmland. DO NOT FORGET ABOUT REAL ESTATE TAXES. During the great depression many farmers lost their land over non-payment of the land taxes. I tell my siblings make sure the next year's real estate taxes are in the bank.
Excellent point. What a scam property tax is- you should be able to pay police fire road itemized- and schools if you partake. And gas tax should cover most road tax. It’s like you never actually own anything in America you constantly have a landlord, uncle Scam
I bought a house that had 10 years back taxes, they wait till you die then collect when it sells. That is in Clinton county Ohio, great place to live little town called Blanchester.
Thank you Todd for mentioning the government’s role in creating the student loan bubble.
One of the best interviews and understanding of the long term effects, that I’ve seen in a long time.
This was a great video for anyone under 30
@@thedot66 funny you say that I’m 28
@@yyuguyI’m honestly suprised anyone under 30 is watching this or content like it. Good for you bud.
@@jerrysanders9101yeah my kids /gkids are too busy being spoiled and arguing about stupid things. I’m over here trying to warn them and they’re too busy arguing about their feelings or trivial maters. 🙄😤
What a great, outstanding podcast. Thank you Todd, Melissa and John Rubino.
After being a home owner for 40+ years I am renting... not loving it, but this interview makes me feel better that I am doing the right thing. Patience! Thank you 🙂
Did you sell your home? Why?
I’m concerned about our overpriced rent now though. If our dollar is worthless than even if we have a job it’s not gonna pay for what we’re paying. Other issue is who’s to say if we’re paying the owner they’re just pocketing it and not making their own payment. I’m not sure what’s gonna happen then. I do know ours refinanced so they could buy two new houses to rent out. So they’re way over leveraged. And our area is desirable so if it goes into repo, someone’s gonna snatch it up quick and we’re possible on the streets.
@kimberlycoffman9478 if the owner isn't making their payment, believe me, you're going to find in short order when they force you out and repossess the property.
Me too! 🙏
I don’t want to go back to renting. I would think having a house that’s paid off is best.
Lay away is the exact opposite of buy now, pay later. One is delayed gratification, the other is instant gratification.
My mom used to tell me "you can say sorry all u want but the watch is still broken"
I just watched The Big Short for the second time. Ya'll, we're there again, and the ramifications are going to be worse than in 2008.
Gain wisdom, question everything, and may our human nature stop being greedy.
Thank you, Mr. Rubino! And thank you Todd and Melissa as well.!
One big thing that was missed. The standard deduction for married couple in 2024 is $29,200 which makes the mortgage interest deduction not usable at all.
South Park’s “Into the Panderverse” had a great episode where AI killed the white collared jobs, and blue collared jobs made all the money.
Thx. Checking this out now
Great chat everyone. Was concerned it was going to be a real estate pow wow, but you actually hit on the real issues. Fantastic!
Mr.John Rubino pinpointed almost ALL that's happening he can go farther that WILL happen. But he is limiting himself from oppositions. Very understandable .
Great podcast, just subscribed. Thank you Melissa, Todd and John Rubino.
Since 1971 bank reserves no longer limit banks from lending as much as they feel comfortable with. The fractional reserve system no longer exists; it was replaced with a fiat funny money system that functions like a Ponzi scheme.
Very smart guy. Thanks for bringing him on.
Great show Todd, you and John Rubino Are bang on as usual. I wish more people would listen to your show. Melissa also does a great job as your right hand person.
Angry that paying into Social Security all my life and the money was wasted on wars, now never ending wars. Social Security now broke because the money was not invested but squandered.
Yep.
Get ready.
Very helpful.
Thank you.
EVERY US CITIZEN SHOULD LISTEN TO THIS SHOW ND especially John Rubino. Thank you for your insight and experience!
i really enjoyed what John had to say! I felt like I learned some things. Please have him back!
Thank you, excellent interview!
Very good information! Thank you so much for this video.
Great video. I missed it live....but wanted to say thanks. Keep up the good work! Great info.
Great Rubino!🌞
Excellent interview. I hope this reaches more people so that they understand what is happening…
This Rubino interview was really good !
Love the focus on COMMUNITY as essential to our survival not hyper individuality 🎉
What an amazing show, packed with actual fact with current markets
This is an excellent program.
One if the very best interviews ever! John at his best.
Thank you, John Rubio
Great interview!
Great information!! Thanks
Great interview 👍!
Thanks everyone. Top notch content
GREAT SHOW!! Thank you!! I’m not hearing anything talking about what’s been rolling around in my head for several yrs now!! The implications are limitless. We really don’t know what’s gonna happen in other words. 🤷♀️
The quality and integrity of this channel is amazing. Todd you are so relatable it shines through and is why you are so successful dealing with people. Keep up the great content. Nice to see my favorites (like Melody, Todd, and Nobody Special) forge relationships.
Great show, very valuable 👍
Thank you so much for this honest information.
Great show,everything he say is true but it just take to dam long.they slow cook us and we forget about it.
😂 The Fed controls the District of Columbia and it’s Human Resources fka citizens. I don’t think we find ourselves in this dire mess accidentally. It was by design.
"The handymen will inherit the Earth".
Great to hear... Can't wait to take possession!
Where did they say this? This handyman is waiting...
Handyman and also could take a framing square with rafter tables and cut out an entire yard building including all the rafters and angles. Also create a materials and cut list with very little waste. But I am old and give out. Zero debt, but the property taxes and hassle of govt.trying to raise fees and inspection requirements and operating permits may make me sell out and look elsewhere.
Problem is everything is broken.
Thank you😊
Thanks for speaking the truth.
The plan is not 30 years old, but more than 100 )when the rich snuck off to Jekyll Island).
Great show
Melissa, beauty with brains!
Great show 🤙🏻
THANKS FOR A REAL GOOD EPIC EPISODE ON THIS CHANNEL! 🎉🎉🎉🎉 /Mikael
Great show! Covered all important topics for the now. Side note: there are SO many real estate agents that don’t know what they’re talking about. I cannot believe how many have tried to feed me lies about interest rates or refinancing down the road (with zero percent down mortgage)…. It’s unbelievable. I told my husband that they are either willfully ignorant of their own industry or they are purposely deceiving people for a paycheck. Disheartening. I do believe that buyers who are taking out a mortgage should first be required to take a class on how mortgages and interest works. They should have access to mortgage calculator tools that will break down what they will pay (principal, interest, insurance, property taxes,etc) every month and year. My husband teaches this to high schoolers in Financial math class. High schoolers can see it’s an awful time to buy. But you have real estate agents basically trying to force your hand to sign in the dotted line.
Really really good!!!
thank you john
Love your guests,
John is very knowledgeable,
Thank you
Watching this 4 days later and this is a great interview. Mr. Sachs, you have one killer channel going on here. 🫡
Excellent, useful content.
Brilliant!
Great conversation! Thank you All!
Beans, rice, PM’s and pew-pew. 🙏👍
Todd, I really like your rubber meets the road synopsis. No hype, just the facts.
Layoffs from sectors like delivery and retail would be expected in January because of seasonal employment. I agree with analysts like Luke Gromen who see the problem emerging from the Treasury Market.
John is great!
Interest on a loan or mortgage is added on daily. You divide the interest rate or annual percentage rate by 365. Then you add that percentage to the balance everyday which compounds daily so in effect you owe more than the loan or mortgage before you make the first few payments as so little of the principle is initially paid back. Over paying early on or putting down a bigger down payment saves a lot more money in interest than paying the extra back later on.
I to was a Ronald Reagan fan to. He help gave me a pay roll tax cut. I was a working guy. I got a 10% one year then 10% second year and a &% third year. On my pay check. it was a payroll tax cut. I enjoy listen to John Rubino he dose a great job of Articulating what's going on.
You all covered a terrific scope of topics, all of them being relevant. The interview is much appreciaed & ALL the comments were appreciated. Sorry if name icon comes up 2x. Some sort of computer glitch we don't know how to fix.
What is the total value of assets of fed reserve. If, like Andrew Jackson did, fed res was shut down and their assets seized, would US debt be paid off just as Jackson did?
John is spot on about Jamie and getting ahead of the populist movement.
Double entry accounting is 700 years old.
In Wealth of Nations Adam Smith wrote "read, write and account" multiple times. He used the word 'education' Eighty Times.
The US could have made accounting/finance mandatory in the schools since Sputnik.
So we have this mess with economists who won't even talk about planned obsolescence.
Look at the Repo Crisis in the automobile market.
Love Johns TRUTH …! Brilliant guest thanks for his courage to speak out … he is correct …! I see what he is saying every day …! It’s a disaster ( worried - is an understatement!!! ) how about farmers fishermen truckers … these are the very systems that rely on small loans to finance jobs and small business and here we are … we have brought war directly upon them …! The cities people will soon learn where the food and fish come from … when it stops hitting their supermarket shelves …! As in Europe ..!
Foreclosures, is the only way to shop.
Excellent interview and John is 100% right little early but very accurate. Physical gold and silver he said and he is not selling it or promoting the metals.
Interest rates are good where they are at. Need to leave them at this level for years and let the economy adjust to normal interest rates.
The debt counter 😂😂😂
There needs to be a national sales tax to fund the pensions. If the pensions fail, it’s over!
Well balancing the budget can’t be about raising taxes. It has to be about cutting spending.
Views supported by facts, thank you John Rubino
Mr. Rubino is one of the best, and a personal favorite of mine. It's interesting to note that healthcare used to be quite affordable, with many doctors making house calls and being paid, in cash, on the spot. Once insurance companies got a corner on that market, healthcare costs ballooned accordingly. Housing is similar, in that folks used to pay cash for their homes. Once bankers got a corner on that market, house prices went to the Moon. Whenever you have a middle-man, and that middle-man has political backing you end up with this scenario: The middle-man skimming huge profits, inflating the prices to the point where you NEED the middle-man. Pretty good gig, huh?
John is a smart man.
Exactly John … !
Restaurant cooks usually work 2 full time jobs. 1 job 7am-3pm and 2nd job 4pm-11pm 5 days a week at each restaurant.
I really struggle finding anything to disagree with John on.
Personally speaking, inflation made me pull back my spending, not horde or panic buying. Everyday necessities haven’t come down to pre-Covid levels so corporations should lower prices and house prices need to come down to offset the required higher interest rates. Interest rates in the 80’s were over 12% but home prices weren’t 6 or 7x the median income.
We need to start holding politicians accountable!!!
Subscribed due to Andrew Jackson historical reference! Quality!
at 1:29, when you buy through a brokerage house, the stock is in the house name only if you buy the stock on margin. Margin is you putting up half the money and the house putting up the rest, or what ever the margin amount is. In 1929 the margin was 10% so no wonder a crash. In the 70s it was 50%. If you pay in full they will mail you the shares. If the stock goes the wrong way from your purchase, then you get a margin call to kick in more money to keep the stock at the original margin. If you have no more money you are forced into a sale, which means you are guaranteed to lose money on the trade.
Regarding high rates on cc. All borrowers need to call the cc company and request a lower rate. Do this every 6 months. The cc co will never lower a rate without a request. And they have rules requiring they respond when requested if you carry a good history
Very smart guy
Agree W/The Whole Forecaat Beinf a Lender Mtg Broker I've Seen The Extreme Price escalation and The Precipitous Drops in Prices. Still believe in Owning your own Real Estate Juat have to do it by the Numbers and Be Aware of The Local Trends in the Town/State laws that are being put in place. Nice Candid Honest show Thanks
Awesome interview. Thank you! Loved the info and outlook. ...Despite how negative it was. Hahaha
One of the best and informative interviews yet.
Chronically underviewed