I am better off than I was four years ago, but only because I sold my big house in New Hampshire and moved back to the middle of Wyoming where I bought a house that cost half of what I sold my other house for. Utilities are a fraction of what I was paying back east and things are cheaper here. That is the only reason I am above water now.
I know I live in So Ca. Electric for my 3500 SF house is 3,500 a year and I keep my thermostat at 62 in winter and 80 in summer. I think are rates are the Highest in the Lower 48 ...
That's great for you with wealth that was accrued over time but the cost of living is un bearable and un sustainable for millennials and younger people that have not had that opportunity.
I haven’t noticed the groceries going down. 😢 We 😅are retired and eat at home. We try to eat as economically as we can. The only time we go out to dinner is for special occasions. Too expensive!😢
I have enough money to last till I die .... 69, healthy, no family, never married, no kids, no debt ... so no one to leave any money to .... figure I'll leave the balance to a dog/animal rescue .... Old Man Gold was taking again today ... I have a 1/4 of my portfolio in Gold ... I've been in/following markets for 50 years (I worked with Volcker) .... this clown show is not going to end well ... expect civil unrest when it starts to get bad .... I give it another 6 mo's
Dude I am 40 years old and I hear you loud and clear. I think social unrest is end game to this crap, for sure. Out of control, corrupt government, for sure.
I'm going to leave my estate to a dog rescue organization as well. Been trying to find the one I want to go with. Most are all liberal organizations that are very political. I won't donate to those.
@@ronaldlindeman6136 wrong again. Govt spending, especially welfare, outpaces tax cuts. Your robotic narrative of tax cuts to the wealthy proves u know nothing about Econ 101
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
With all due respect.... Most adult's with a proper education still don't understand. I love that you are getting interested in finance/ economy at su c h a young age. I stated investing at 22 , 3k per month. I'm a multi millionaire from that alone. Saved around $1 million in bonds/cash and I hold more real estate that I should be allowed to buy. You will be fine, but you have to invest early. The stock market goes to and down... just invest consistently and you'll be rich too. Savings is crap without investing. Renting vs buying is also a poor idea. Always buy assets, not liabilities!!!
Ever heard of John Perkins? He used to work for the IMF and from his experience there he wrote a book entitled 'Confessions of an Economic Hit man'. He wrote about how the IMF would take countries loan requests and tailor them, using their demographics and economic statistics, into a loan package the IMF KNEW they could never meet the terms of. When they would default the IMF would foreclose and take ownership of whatever asset they made the country use as collateral. This could be a hydro-electric system or some natural resource the country possessed. BTW The IMF, the World Bank and the current dollar reserve scheme ALL came out of the Breton Woods agreement at the end of WWII.
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
@@hvaball150 The FED is printing an unlimited amount of dollars. The US Government is doing 100X too much hiring on those dollars that came out of thin air.
@@hvaball150 More money printing chasing the same goods, will yield higher inflation as a consequence. It’s simple economics. Milton Friedman explained it in the 1980’s and both parties ignored it. Government is allowed to print endless money legally while if people get caught printing money, we go straight to jail.
@@hvaball150 Prices don't inflate, as you rightly said they increase. And to answer your question: When more dollars get created (currency supply being inflated), that doesn't necessarily cause any matching increase in the supply of eggs (or other goods and services). You can think of it like an auction: The more dollars, the more the prices for material items are bid up. (And that's occurring at every stage of the production supply chain, not just the retail outlet such as Walmart.)
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
That’s why I enjoy my life to the fullest before getting old. I drink and eat what I like, and my retirement plan is not to make it to retirement age. I much rather enjoy life now while I’m young and can sleep with woman without needing blue pills, my eyes work well enough to drive my corvette at a fast speed, and I can stay up late and work the next day. Life is too short to waste the best years of your life being scared and saving all your money just to end up with a bunch of money you can’t enjoy because you are too old to do so, yes be smart with your money, but enjoy the one and only life you get in the process. Good luck to everyone, God is with us all.
@@5dc61 That was what I thought too. Hope your genes aren't as good as mine. Also you might take up smoking, drinking and helling around. That works for some people. I lead too clean a life and have great genes. Who knew?
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
I’ve got my own business in an essential trade and can still afford my mortgage and groceries. What I don’t spend money on anymore is restaurants and other consumer goods, since I can cook and have plenty of stuff. Inflation damages people’s savings in banks and lower income folks mostly. Guess which people like to vote in more money spending and printing?
I don’t know anyone who eats at restaurants anymore. My family eats all organic food. I don’t need to spend $200 going out to eat where the food is filled with seed oil and half of it is frozen/canned.
We noticed shrinkflation happening all around. We stopped fast food and most ultra processed food altogether this year. Been cooking and eating at home most of the time, and just sometimes at a local restaurant to treat ourselves.
It’s like being on a state of the art unsinkable cruise ship, screaming “ice berg!” And everyone aboard claps and cheers as the captain steers safely into it ! 😂😂
$1,000,000,000,000- .. let them zeros sink in ..that’s the service paid on our annual debt. It’s bigger than the entire budget of the Department of Defense! It’s obscene .. WAKE UP PEOPLE !!!
@@plecoful we have not the courage to raise revenue and cut spending. Ever since bush paid the price for no new taxes, it’s not gonna happen. Clinton and Gingrich for all of the vitriol had that combination and the fed was worried that what will they world use for liquidity when there were perpetual surpluses to come.
@@dougmphillywe don’t have the courage… but I’d go in a different direction. Revalue the dollar to the gold standard. Which would crush the world economy… and all of these wars. However, the result of using honest money will bring peace and prosperity to the masses.
@@HarrisonCountyStudio gold standard did nothing to stop any wars. There was far more war than until 2022. What in Putin’s or hamas’s playbook has anything about the differences between the Austrian & Keynesians?
@@dougmphilly War, was certainly restricted when real money was spent. The FedGov has been running proxy wars since the 1950’s and the Federal Reserve has been expediting the funds over the last 50 years… the same time period that the Nixon administration took us off of the gold standard.
BANXICO central bank of Mexico will begin using gold or else to back up the peso. Iam expecting getting rid of USA bonds or stocks. They see USA dollar going to trash
We should have never abandoned Keynesian Economics in 1980. We should never have sent Alexander Hamilton’s 11 Point Manufacturing packing to China. It had been in place from 1779 up to 1980. We went from being the biggest creditor in the world to the largest debtor. We now import everything!
I have noticed that if you absolutely refuse to buy something after they've raised the price at the grocery store, eventually they have to cave in and mark down the price.
Is anyone talking about how the national debt went up 500 billion dollars virtually over night? We just crossed 35 trillion and we are closing in on 36 trillion now, where is all of this money going??
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
IMF headquarters is in Washington, DC. They’re walking distance lunch buddies with the Federal Reserve, World Bank and Inter-American Development Bank.
Trump is owned by the same people. Wilbur Ross bailed his ass out many years ago with his casino in NJ. They are all pawns to the same parasites. There is no political solution, until I hear a politician talk about ending the Fed reserve! They have been removed twice from our country already. But people today are too stupid to know history.
Do you realize "Tariffs" are a problem? It's basically a tax on all imports that the American middle-class consumers pay for. Large Corporations pass the Tariff costs to the consumers in the form of higher retail prices. Think before you post, will you? Independent here that has a low tolerance for stupidity.
If tariff is a problem, why are so many Asian exporters championing tariffs on steel, agricultural products and so on? Are they immune to inflation? No. Before inflation started, these Asian countries who are also big exporters imposed tariffs and Non tariffs barriers (NTB) and they were already in place for many years to restrict or ban foreign imports, and these same Asian countries do not suffer from inflation. So - tariffs isn’t the problem that caused or contribute to inflation - rather it’s excessive money supply who is the culprit that causes inflation.@Michael
@@bidensenile4196 when Clinton was in office he signed a peace treaty with China and clause of the fair trade agreement that USA share our secret weaponary with China look it up in that bill he signed
Michael, it’s not just the endless printing of more currency- the fractional reserve banking system is a problem as well as it increases the money supply by allowing banks to lend money they don’t even have on deposit.
I'd unfortunately agree, watching the ship go down! Gen Z and Alpha are stuffed. Unnecessary cultural wars created by government. In particular, taxation regimes or lack thereof. No poll needed, the Labor Party will be coming down.
You are correct. Inflation and growing national debt is not just a U.S problem. There are only a handful of countries that are without public debt...Switzerland, Norway, Sweden, Denmark are examples. I'm also amazed that neither side want to address this issue. Sooner or later the sheer scale of this debt is going to bite us on the butt.
They as a uniparty have already decided, whereas the handful of senators who want to fix the debt are outliers. They dpn't want shrinking government, less power, less control, and paying off the debt, nor austerity or recessions. They want more government because it grows the GDP on the books so they can loan/print even more money and push ideological agendas through power and control of the major spending purse. The policy is thus loot the US until broke and then declare a economic depression, it is the goal, it will come once they pull the rug of these fake statistics and numbers at their time of choosing. Prepare!
Since 2021, I have one shopped at Aldi, Trader Joe's and a local discount grocery chain. While prices have kept rising, at least I've been able to manage within my budget. Krogers, Safeway and the other national chains lost my patronage forever.
I know that if you follow loss leaders and shop around you can stay within budget. Homesteading, and big box stores can help. (Except Costco) that's just full of stuff we can live without, we stll have it for my mother in law. We have access to restaraunt depot, that helps us afford meat we don't raise ourselves.
Future generations (if there are any?) will look back at Central Banks, i.e. The Federal Reserve and their ilk, as the main failure of Modern Man to understand the insidious criminal nature of fractional-reserve banking coupled with compound-interest bearing loans. How they “make money” from thin air and then charge us interest while we’re using it? “What is robbing a bank compared to founding a bank.” Bertolt Brecht
It's called usury, and it's a favorite tactic of one specific type of people we can't name. The central banks have been booted from this country twice in the past for the same reason. These people have been expelled from 109 countries and thousands of cities. People wonder how Hitler rose to power?? Just watch as they do it again.
03:30 VERY GLAD you stuck with it!! Your channel is one of my go-to sites for up to the minute info regarding one of the most important segments of American society. It's a short list...and you are at the top. Keep up the great work...THANK YOU.
What do you think about corporate profits and the deficit? Don't corporations pay like only 3 or 4 percent of the taxes in the US? Seems like they're laughing in our faces profiting while the country burns.
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenbook. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
Hearing from an experienced investor who has survived adversity and prevailed is always motivating. It may be frightening when your portfolio goes from green to red, but if you have invested in strong firms, you should maintain growing them and stick to your goal.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.
Your invt-adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same invt-adviser and how I can get in touch with them?
My Financial Consultant is Sophia Maurine Lanting. I found her on a Kiyosaki interview where she was featured and reached out to her afterwards. She has since provided entry and exit points on the securities I focus on. You can run a quick online search with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so
Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Stacy who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
What most don't understand is debt is money. The only way a dollar comes into existence is to be borrowed, period. The Fed and the banks do not print money, they loan it, no loan, no money, no debt.
@@joshuaquilliam2887 I imagine that was the reason Henry Ford said; "It is well that the people don't understand their banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning!"
Re food prices: by now everyone knows food prices are way up because fuel prices are way up. It costs more to deliver stuff. With lowering interest rates we will enter hyperinflation which will be disastrous for the lower and middle classes, money won’t stretch as far. Our national debt is at 36 trillion dollars and adding another trillion every 100 days, or better put- 100 grand every second. We will lose the World currency status next week, and electing a candidate in 2 weeks (doesn’t matter which one) who will preside over the end of the US. I hope your readers are prepared.
Michael, Yellen said the public debt was unsustainable at USD 22 trillion when she was Fed Chair. It’s now nearly 36 trillion and short end yields are falling. The main issue is no one knows where the tipping point is. It could be USD 37 trillion or USD 75 trillion? No-one knows. They’ll continue on the current trajectory until they find that point.
the problem is they cant do 20% rates because it would cause the US government to default. we're not going to be able to hold rates high enough to get rid of inflation. it's here to stay, do not hold cash.
Starting in 2015 cars were engineered to fail around nine years or require $10k in repairs. It's 2024. Now we see when consumers hit that they abandoned the car and just stop paying the loan. And have no hope of approval on the tremendous cost of a new car. Crashing loan markets hit the banks first and this may be the straw that breaks the camel's back - on top of commerical real estate disaster, tech over value disaster, consumer credit disaster, and social security/medicare disaster.
I think a .50 raise about 6 to 8 months ago or .25% 2x would have just about taken us. Into a better situation by now. The cut was BS. Economy is going down either way..just a timing issue. Like Michael says.
imagine what it must have been like waking up every day the past 2 years and pretending that this bull market in stocks wasnt, couldnt possibly be happening? that must have been torture. oh the horror. And yet it did.
I made my own bbq sauce yesterday. With 2. cans of tomato sauce, spices, honey, vinegar and cornstarch. It not like it really makes a big difference in the budget, im just tired of giving companies too much money for poisionous products.
grocery price is not 50%, how often that you pay for 3.99 for 1 dozen of eggs at 2019? I believe it is 1.39 for that dozen of eggs. that is more than 100 percent increase.
Interest on the federal debt costs almost $700 billion a year. Congress is in charge of the budget but one is willing to hold them responsible for actually doing their job.
Just watch the 10 year treasury yield TNX. With the rate cut from FED yield went from 3.5% to over 4%. If we break 4.35% we will test 5% again . Proving the cut is going to bring back the inflation. We see.
My wife has three or four stores she goes to including aldes for certain things like meat or fruit and looks for coupons or specials. Where we live there are a number of grocery stores in a small area.
I am so happy that I discovered your channel Michael,voice of reason and source of info. In this crazy frenzy around us, with so much of dishonesty, I very much appreciate your point of view on things, and informations about state of economy. Best wishes. LD
@@PlagueGuy with inflation there is infinite road. It is hard to believe, but a loaf of bread can cost $1 million. There is proof with recent history. Look at Argentina and Zimbabwe. Zimbabwe was printing multi trillion dollar notes at the peak of their inflation. Argentina is experiencing 100%+ inflation annually. Also with Venezuela, it would literally take wheelbarrow full of currency to buy a loaf of bread and digital credit card readers didn't have enough digits to read out the cost of a purchases. Those are all modern day examples, but you can look at multiple scenarios throughout history of this playing out. In fact you will find no example of government being responsible and maintaining the value of a fiat currency over long term.
@@tylerhill9483 That's because it's always the same people in charge of the currency. They wear tiny hats, and have beady rat looking eyes. Of course you can't talk about these parasites because they pass laws to protect themselves from being criticized.
There is no more road to keep kicking the can, the dollar is collapsing. Start preping with food and weapons. People better hope Trump wins or this country is done.
Imagine when all countries will used own currencies to conduct bussiness worldwide bypass dollar. De dollarization will made US treasury bonds became junk , no one want to buy US treasury bonds anymore. How can US payback US 35.5 Trillion dollar and counting ?.
Hit me up if you want to hear about the Dutch market! I'm American but have lived here for years, it's gnarly how quick they ruined their economy here by going from low debt to a real estate economy that is completely in outer space
very curious to hear about that. Hope you write Michael an email on the topic for a segment. The Dutch always seemed to have a great economy with a solid social safety net but apparently it’s changing fast and people have a hard time buying or renting homes
![[UA] NAVI vs MOUZ | BO5 | IEM Rio 2024](http://i.ytimg.com/vi/CMBYk0cbGoA/mqdefault.jpg)
They Say Grocery PRICES ARE CHEAPER THAN 2019...ua-cam.com/video/tQMslR-A1kk/v-deo.html
They're just mocking us now.
What a crock!!
Toilet paper is cheaper now than it was in 2020
What "they" say and reality are 2 different economic worlds.
@@darcydjHey ,we saved on something ,sadly very important 😊
Most politicians don’t care about the deficit because most are days away from dying.
Mandatory age cap of 65 for politicians.
Agree 👍
Term Limits
They are just setting their families up.
It won't affect them in their lifetime
I am better off than I was four years ago, but only because I sold my big house in New Hampshire and moved back to the middle of Wyoming where I bought a house that cost half of what I sold my other house for. Utilities are a fraction of what I was paying back east and things are cheaper here. That is the only reason I am above water now.
I know I live in So Ca. Electric for my 3500 SF house is 3,500 a year and I keep my thermostat at 62 in winter and 80 in summer. I think are rates are the Highest in the Lower 48 ...
That's great for you with wealth that was accrued over time but the cost of living is un bearable and un sustainable for millennials and younger people that have not had that opportunity.
Ive heard New hampshire is cold af, hopefully you are enjoying some better weather along with your lower cost of living!
@@Thebankfisherhave you bought yourself a new car before? Do you carry credit card debt?
@@Thebankfishercry about it. I’m a millennial and a homeowner. Stop being a victim
I can tell inflation is accelerating each week I go grocery shopping.
I'm an economist. I'd like to know details. What exactly are you buying?
@@AssetAddict Look at your food bill!!!!
I haven’t noticed the groceries going down. 😢 We 😅are retired and eat at home. We try to eat as economically as we can. The only time we go out to dinner is for special occasions. Too expensive!😢
@@hot89103 what the hell are you buying that's growing up every week
@@Opus4p Ask your Mom to show you the grocery receipt.
I have enough money to last till I die .... 69, healthy, no family, never married, no kids, no debt ... so no one to leave any money to .... figure I'll leave the balance to a dog/animal rescue .... Old Man Gold was taking again today ... I have a 1/4 of my portfolio in Gold ... I've been in/following markets for 50 years (I worked with Volcker) .... this clown show is not going to end well ... expect civil unrest when it starts to get bad .... I give it another 6 mo's
Give your money to a Patriot Militia - OR - supply snug & omma
Dude I am 40 years old and I hear you loud and clear. I think social unrest is end game to this crap, for sure. Out of control, corrupt government, for sure.
I'm going to leave my estate to a dog rescue organization as well. Been trying to find the one I want to go with. Most are all liberal organizations that are very political. I won't donate to those.
Me Too my Hospital gets it all saved me at 51..Take Care TRAVEL !!!!!!!!!!
@minigirl6839 what about asphalt? I adopted my current puppy from there. She is such a sweet dog.
The government is spending too much!
Every dollar spent is someone’s salary.
That is not the problem. The problem that there have been to many tax cuts to the wealthy.
@@ronaldlindeman6136 wrong again. Govt spending, especially welfare, outpaces tax cuts. Your robotic narrative of tax cuts to the wealthy proves u know nothing about Econ 101
Yes, because they are just the parasiting on us who still are working.
That is why Trump says he can save a lot of money and our tax dollars by cutting or trimming many unneeded departments with bloated staff numbers.
Hay man don't ever stop your content some people want you to sugar coat what's really going on keep up the good work 👍👍👍
I appreciate that!!
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
17 years old and this is very clear to me
Spread the word bro. 58 here bravo
What do you think of the reaction of the 10 year to the Sept rate cut?
You have no idea at 17 y/o. Trust me.
With all due respect.... Most adult's with a proper education still don't understand. I love that you are getting interested in finance/ economy at su c h a young age. I stated investing at 22 , 3k per month. I'm a multi millionaire from that alone. Saved around $1 million in bonds/cash and I hold more real estate that I should be allowed to buy. You will be fine, but you have to invest early. The stock market goes to and down... just invest consistently and you'll be rich too. Savings is crap without investing. Renting vs buying is also a poor idea. Always buy assets, not liabilities!!!
Forgot to say, I'm 45... but been rich for over 15 years.
Listening to the imf is like listening to a politician.
A Glorified Baine Capital ( Mit Romney )
Ever heard of John Perkins? He used to work for the IMF and from his experience there he wrote a book entitled 'Confessions of an Economic Hit man'. He wrote about how the IMF would take countries loan requests and tailor them, using their demographics and economic statistics, into a loan package the IMF KNEW they could never meet the terms of. When they would default the IMF would foreclose and take ownership of whatever asset they made the country use as collateral. This could be a hydro-electric system or some natural resource the country possessed.
BTW The IMF, the World Bank and the current dollar reserve scheme ALL came out of the Breton Woods agreement at the end of WWII.
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
Inflation is an additional tax on tax payers. The government is solely responsible for the inflation, but there is no accountability.
How is the government directly responsible for the increase in my price of eggs?
From $4 to $10. 60 count at Walmart.
Go for it. Tell me.
@@hvaball150 The FED is printing an unlimited amount of dollars. The US Government is doing 100X too much hiring on those dollars that came out of thin air.
@@hvaball150 More money printing chasing the same goods, will yield higher inflation as a consequence. It’s simple economics. Milton Friedman explained it in the 1980’s and both parties ignored it. Government is allowed to print endless money legally while if people get caught printing money, we go straight to jail.
@@hvaball150 Prices don't inflate, as you rightly said they increase. And to answer your question: When more dollars get created (currency supply being inflated), that doesn't necessarily cause any matching increase in the supply of eggs (or other goods and services). You can think of it like an auction: The more dollars, the more the prices for material items are bid up. (And that's occurring at every stage of the production supply chain, not just the retail outlet such as Walmart.)
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
You have become an excellent financial speaker. Way to go!!
I've worked hard all my life, now I'm too old. Not much I can do to help myself, and it is a bad feeling right now.
At some point it will be on us as Americans to help our neighbors.We are in it together. Take care.
That’s why I enjoy my life to the fullest before getting old.
I drink and eat what I like, and my retirement plan is not to make it to retirement age.
I much rather enjoy life now while I’m young and can sleep with woman without needing blue pills, my eyes work well enough to drive my corvette at a fast speed, and I can stay up late and work the next day. Life is too short to waste the best years of your life being scared and saving all your money just to end up with a bunch of money you can’t enjoy because you are too old to do so, yes be smart with your money, but enjoy the one and only life you get in the process.
Good luck to everyone, God is with us all.
@@5dc61 That was what I thought too. Hope your genes aren't as good as mine. Also you might take up smoking, drinking and helling around. That works for some people. I lead too clean a life and have great genes. Who knew?
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
8386 Well stated !
I’ve got my own business in an essential trade and can still afford my mortgage and groceries. What I don’t spend money on anymore is restaurants and other consumer goods, since I can cook and have plenty of stuff.
Inflation damages people’s savings in banks and lower income folks mostly. Guess which people like to vote in more money spending and printing?
I don’t know anyone who eats at restaurants anymore. My family eats all organic food. I don’t need to spend $200 going out to eat where the food is filled with seed oil and half of it is frozen/canned.
We noticed shrinkflation happening all around. We stopped fast food and most ultra processed food altogether this year. Been cooking and eating at home most of the time, and just sometimes at a local restaurant to treat ourselves.
It’s like being on a state of the art unsinkable cruise ship, screaming “ice berg!” And everyone aboard claps and cheers as the captain steers safely into it ! 😂😂
$1,000,000,000,000- .. let them zeros sink in ..that’s the service paid on our annual debt. It’s bigger than the entire budget of the Department of Defense! It’s obscene .. WAKE UP PEOPLE !!!
Unfortunately it's much too late for waking up-!!😭
@@plecoful we have not the courage to raise revenue and cut spending. Ever since bush paid the price for no new taxes, it’s not gonna happen. Clinton and Gingrich for all of the vitriol had that combination and the fed was worried that what will they world use for liquidity when there were perpetual surpluses to come.
@@dougmphillywe don’t have the courage… but I’d go in a different direction. Revalue the dollar to the gold standard. Which would crush the world economy… and all of these wars. However, the result of using honest money will bring peace and prosperity to the masses.
@@HarrisonCountyStudio gold standard did nothing to stop any wars. There was far more war than until 2022. What in Putin’s or hamas’s playbook has anything about the differences between the Austrian & Keynesians?
@@dougmphilly War, was certainly restricted when real money was spent. The FedGov has been running proxy wars since the 1950’s and the Federal Reserve has been expediting the funds over the last 50 years… the same time period that the Nixon administration took us off of the gold standard.
Inflation is too damn high!
My monthly expenses are too damn low!!!!!!!!!!!
You’re doing great, don’t let the negative energy rain on your parade
I know farmers that bought thousands of acres of land for 100 bucks a acre decades ago …. Unrealized capital gains will bankrupt them .
Its so sad
Excellent video. Michael speaks the truth.
We should have never stopped backing gold... Money printer go burr has ruined multiple generations... 😢
But wait! There's more.
BANXICO central bank of Mexico will begin using gold or else to back up the peso. Iam expecting getting rid of USA bonds or stocks. They see USA dollar going to trash
Name one generation ruined.
We should have never abandoned Keynesian Economics in 1980. We should never have sent Alexander Hamilton’s 11 Point Manufacturing packing to China. It had been in place from 1779 up to 1980. We went from being the biggest creditor in the world to the largest debtor. We now import everything!
That happened in 1971
I have noticed that if you absolutely refuse to buy something after they've raised the price at the grocery store, eventually they have to cave in and mark down the price.
I have NO worries I have enough money to last until I die, if that happens within the next two weeks
Is anyone talking about how the national debt went up 500 billion dollars virtually over night? We just crossed 35 trillion and we are closing in on 36 trillion now, where is all of this money going??
Maybe someone booked party 🥳 for Donny coronation 🤡
I suspect ten percent is going to 'the big guy'
In today’s world 🌎 is easy to send several billions even overnight. Just ask Joe’s son how he is doing those things 😮😮
The Ukrainian soldiers
⛔⛔ IMF and World Bank are US govt regime banks. I'd be careful of what these 2 banks broadcast. They have been used to loot, enslave poor and modern countries in forever debt to the US. The OGs of debt diplomacy! They will project others issues, but rarely US debt issues. IF they do...its controlled. US debt is 10000x's worse but IMF and WB will downplay to protect the US ponzi con-omy and fiat dollar. ⛔⛔ US is 4% of the global population but owns well over 50% of the global debt! ITS NOT A GLOBAL ISSUE....ITS A USA ISSUE!
IMF headquarters is in Washington, DC. They’re walking distance lunch buddies with the Federal Reserve, World Bank and Inter-American Development Bank.
Federal Reserve & IMF are both owned by the Rothschilds. Look it up.
And well versed in UNITED NATIONS
And the headquarters is luxurious, and gives very substantial perks to its employees, in part at US taxpayer's expense.
All ran by the 👃
I was having a good week. I figured I'd go into the weekend miserable, I got there in the first thirty seconds.
Love it 🥰
The IMF started the plunge into chaos in Haiti.
Need to set interest rates at 20% and give it 10 years to work the bs out.
It won't take 10 years,maybe 6 months...if that....
@@andrewgleason586nice thought but likely will be a decade if not more. Depends
Never going there again. See the plaza accord of 1986. It would not be tolerated by other countries.
The smartest person in the chat room.
It will bankrupt the global economy within 5 years
Hey Mike! Hope all is well sir. Have a great weekend.
Growth is hard to achieve with very high inflation.... unproductive.... debt makes inflation much worse....
Hate to say it, but we have to get the CIA out of control of the government. Even if that means voting for Trump. 🤷♂️ - lifelong Democrat here…
Sure, bud
Trump is owned by the same people. Wilbur Ross bailed his ass out many years ago with his casino in NJ. They are all pawns to the same parasites. There is no political solution, until I hear a politician talk about ending the Fed reserve! They have been removed twice from our country already. But people today are too stupid to know history.
I'm in Australia, everything you talk about is happening here too..
Sorry about that.. US should be a role model but at the moment far from it..
Rapport Murdoch from Australia has much to do with this. He is a libertarian
Tariffs is not the problem- the problem is printing excessive money which causes inflation
The real issue is the bankers who control everything look it up sometimes
Do you realize "Tariffs" are a problem? It's basically a tax on all imports that the American middle-class consumers pay for. Large Corporations pass the Tariff costs to the consumers in the form of higher retail prices. Think before you post, will you? Independent here that has a low tolerance for stupidity.
Tariffs is also a problem. The consumers pays higher costs.
If tariff is a problem, why are so many Asian exporters championing tariffs on steel, agricultural products and so on? Are they immune to inflation? No. Before inflation started, these Asian countries who are also big exporters imposed tariffs and Non tariffs barriers (NTB) and they were already in place for many years to restrict or ban foreign imports, and these same Asian countries do not suffer from inflation. So - tariffs isn’t the problem that caused or contribute to inflation - rather it’s excessive money supply who is the culprit that causes inflation.@Michael
@@bidensenile4196 when Clinton was in office he signed a peace treaty with China and clause of the fair trade agreement that USA share our secret weaponary with China look it up in that bill he signed
Michael, it’s not just the endless printing of more currency- the fractional reserve banking system is a problem as well as it increases the money supply by allowing banks to lend money they don’t even have on deposit.
You're absolutely right, fractional banking should've never have been allowed to happen!
Yeah like what’s that all about. Heard this over and over .. nothing in reserve but let’s go ahead and lend it out anyway. Just in case
Government just keeps spending money like idiots. Individuals are making tough decisions.
I'd be questioning the IMF as a guiding global financial institution too. Toothless tiger.
I'd unfortunately agree, watching the ship go down! Gen Z and Alpha are stuffed. Unnecessary cultural wars created by government. In particular, taxation regimes or lack thereof. No poll needed, the Labor Party will be coming down.
You are correct. Inflation and growing national debt is not just a U.S problem. There are only a handful of countries that are without public debt...Switzerland, Norway, Sweden, Denmark are examples. I'm also amazed that neither side want to address this issue. Sooner or later the sheer scale of this debt is going to bite us on the butt.
They as a uniparty have already decided, whereas the handful of senators who want to fix the debt are outliers. They dpn't want shrinking government, less power, less control, and paying off the debt, nor austerity or recessions. They want more government because it grows the GDP on the books so they can loan/print even more money and push ideological agendas through power and control of the major spending purse. The policy is thus loot the US until broke and then declare a economic depression, it is the goal, it will come once they pull the rug of these fake statistics and numbers at their time of choosing. Prepare!
Yes, working for yourself is important. Yes, you work hard and earn everything you have. Keep up the good work Michael.
It's like when Deebo has your bike and you gotta ask for it back
Watching from Melbourne Australia, really enjoy your content, it’s genuine and tactful cheers MB.
Another Melburnian 😊
Michael, another great video. I am and Aldi shopper - I applaud Aldi for realizing the problems we as consumers are having - and being honest - wow.
Since 2021, I have one shopped at Aldi, Trader Joe's and a local discount grocery
chain. While prices have kept rising, at least I've been able to manage within my budget. Krogers, Safeway and the other national chains lost my patronage forever.
I know that if you follow loss leaders and shop around you can stay within budget.
Homesteading, and big box stores can help. (Except Costco) that's just full of stuff we can live without, we stll have it for my mother in law. We have access to restaraunt depot, that helps us afford meat we don't raise ourselves.
gold slowly climbs every day, thats all the confirmation bis i need to stay where i am.
Our host makes a good point. We don’t “feel” worse off, but we are. Borrowing and inflation
Again ,,Michael ,you are right on every account,,,, appreciate all your honesty,,,,honesty we can't get from anywhere else,,,,,it's true !!!!
Thank you to our host for this beautiful outdoor walk around tour. Good topic and good content. I used to travel regularly to Brazil and Argentina
Future generations (if there are any?) will look back at Central Banks, i.e. The Federal Reserve and their ilk, as the main failure of Modern Man to understand the insidious criminal nature of fractional-reserve banking coupled with compound-interest bearing loans. How they “make money” from thin air and then charge us interest while we’re using it? “What is robbing a bank compared to founding a bank.” Bertolt Brecht
It's called usury, and it's a favorite tactic of one specific type of people we can't name. The central banks have been booted from this country twice in the past for the same reason. These people have been expelled from 109 countries and thousands of cities. People wonder how Hitler rose to power?? Just watch as they do it again.
03:30 VERY GLAD you stuck with it!! Your channel is one of my go-to sites for up to the minute info regarding one of the most important segments of American society. It's a short list...and you are at the top. Keep up the great work...THANK YOU.
What do you think about corporate profits and the deficit? Don't corporations pay like only 3 or 4 percent of the taxes in the US? Seems like they're laughing in our faces profiting while the country burns.
Corporations don't pay taxes. They pass it on to consumers. Higher corporate taxes causes higher prices to the consumer, ie inflation.
Well you said it youself. You are exceptional, Michael!
There is one sure fire way to stop the spending, stop supplying the money.
Confiscate it ., put US on a fiscal diet. Let’s go..
My husband and I usually watch your videos on the TV. Dropping a comment and 👍 as I watch this on my phone. Keep up the good work
This is true. To many spenders still.
"It's not like you feel you're worse off, you actually are worse off". That's a good line. Lol
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenbook. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
Hearing from an experienced investor who has survived adversity and prevailed is always motivating. It may be frightening when your portfolio goes from green to red, but if you have invested in strong firms, you should maintain growing them and stick to your goal.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.
Your invt-adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same invt-adviser and how I can get in touch with them?
My Financial Consultant is Sophia Maurine Lanting. I found her on a Kiyosaki interview where she was featured and reached out to her afterwards. She has since provided entry and exit points on the securities I focus on. You can run a quick online search with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so
Facts, Post Everyday! 🤔
Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Stacy who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
That Aldi deal is only for TEN people.
What most don't understand is debt is money. The only way a dollar comes into existence is to be borrowed, period. The Fed and the banks do not print money, they loan it, no loan, no money, no debt.
You are closer than most in the chat.
And how exactly do you ever repay the debt if the very first dollar has interest attached? That's not money, it's slavery!
@@joshuaquilliam2887 I imagine that was the reason Henry Ford said; "It is well that the people don't understand their banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning!"
Thank you for this content. You are very level with your analysis. Glad I found you.
Much appreciated!
I'm with you. Pass the popcorn.
Higher inflation will be the new norm until the debt is bought down
Re food prices: by now everyone knows food prices are way up because fuel prices are way up. It costs more to deliver stuff. With lowering interest rates we will enter hyperinflation which will be disastrous for the lower and middle classes, money won’t stretch as far. Our national debt is at 36 trillion dollars and adding another trillion every 100 days, or better put- 100 grand every second. We will lose the World currency status next week, and electing a candidate in 2 weeks (doesn’t matter which one) who will preside over the end of the US. I hope your readers are prepared.
Touch some grass
Michael, Yellen said the public debt was unsustainable at USD 22 trillion when she was Fed Chair. It’s now nearly 36 trillion and short end yields are falling. The main issue is no one knows where the tipping point is. It could be USD 37 trillion or USD 75 trillion? No-one knows. They’ll continue on the current trajectory until they find that point.
Too bad there isn't any gold in fort Knox or we'd be okay
Not working hard to pay mismanaged taxes.
20% rates like in the early 80’s would eventually cure this but it will be painful.
the problem is they cant do 20% rates because it would cause the US government to default. we're not going to be able to hold rates high enough to get rid of inflation. it's here to stay, do not hold cash.
I’ve been buying gold and silver since 2016
Mike you are not working for yourself my friend, you are working for UA-cam ;) and they can change and twist their terms any day now...
He was a realtor. Expect a spin.
Thinks he owns his condo too.
If people like a creator enough they go beyond the platform they are on.
Demonitise - Censor - Cancel - Delete - sound familiar ?
Starting in 2015 cars were engineered to fail around nine years or require $10k in repairs. It's 2024. Now we see when consumers hit that they abandoned the car and just stop paying the loan. And have no hope of approval on the tremendous cost of a new car. Crashing loan markets hit the banks first and this may be the straw that breaks the camel's back - on top of commerical real estate disaster, tech over value disaster, consumer credit disaster, and social security/medicare disaster.
The fed should have raised intrist rates, or at least left them alone!
I think a .50 raise about 6 to 8 months ago or .25% 2x would have just about taken us. Into a better situation by now. The cut was BS. Economy is going down either way..just a timing issue. Like Michael says.
imagine what it must have been like waking up every day the past 2 years and pretending that this bull market in stocks wasnt, couldnt possibly be happening? that must have been torture. oh the horror. And yet it did.
I go out of my way to not buy things made in China so, regarding tariffs, I don't care.
Iphone? Computers?
That’s nearly impossible these days
Look around in your car….china produced parts everywhere, Tariffs suck big time
I made my own bbq sauce yesterday. With 2. cans of tomato sauce, spices, honey, vinegar and cornstarch.
It not like it really makes a big difference in the budget, im just tired of giving companies too much money for poisionous products.
Forever chemicals in water too
I eat too much - 3 times a day .
Same. Spanking it 3x a day too
At what point in history did we become 3 meals a day eaters?
I was born 1946 until I left home 3 meals a day, breakfast, Lunch and dinner and still do although now the meals are smaller.
grocery price is not 50%, how often that you pay for 3.99 for 1 dozen of eggs at 2019? I believe it is 1.39 for that dozen of eggs. that is more than 100 percent increase.
I sold all my stocks and bought gold 9 months ago. I'm very happy 😊
Really😂 how bad was the gov tax penalty on your gains?
@@dfwdamon Very bad 40%
Interest on the federal debt costs almost $700 billion a year. Congress is in charge of the budget but one is willing to hold them responsible for actually doing their job.
7641 Well stated !
Just watch the 10 year treasury yield TNX. With the rate cut from FED yield went from 3.5% to over 4%. If we break 4.35% we will test 5% again . Proving the cut is going to bring back the inflation. We see.
Yep 30 year fixed is rising,home prices are diminishing.....
My wife has three or four stores she goes to including aldes for certain things like meat or fruit and looks for coupons or specials. Where we live there are a number of grocery stores in a small area.
I just treated myself to half dozen of, extra large Crabs 45.00 and I enjoyed them, I hadn't had any in months
@11:11 thats because people only live around 70 years and the new people forget it happend
Because only certain people are doing OK....
Well stated !
@@albertgrant1017 Thank You Dear Albert....God Bless 🙏 💞 💖
Worst 4 years ever due to corrupt and evil in charge
Screw the globalists
The debt is too damn high.
Gold & Silver to the 🌕 baby we out 🚀 the more the national debt rises 📈 the more precious metals i buy 😍
I am so happy that I discovered your channel
Michael,voice of reason and source of info.
In this crazy frenzy around us, with so much
of dishonesty, I very much appreciate your point of view on things, and informations about state of economy. Best wishes. LD
Cant wait to see what the debt reset button will look like🤣🤣🤣
Think in World War images. You'll get it.
Throughout history, when a country is in too much debt,....war follows.
Tomorrow never arrives. Kick the can down the road.
There is no more road.
@@PlagueGuy There is no can either!
There are no legs left to kick the can,no kicking....lol
@@PlagueGuy with inflation there is infinite road. It is hard to believe, but a loaf of bread can cost $1 million. There is proof with recent history. Look at Argentina and Zimbabwe. Zimbabwe was printing multi trillion dollar notes at the peak of their inflation. Argentina is experiencing 100%+ inflation annually. Also with Venezuela, it would literally take wheelbarrow full of currency to buy a loaf of bread and digital credit card readers didn't have enough digits to read out the cost of a purchases. Those are all modern day examples, but you can look at multiple scenarios throughout history of this playing out. In fact you will find no example of government being responsible and maintaining the value of a fiat currency over long term.
@@tylerhill9483 That's because it's always the same people in charge of the currency. They wear tiny hats, and have beady rat looking eyes. Of course you can't talk about these parasites because they pass laws to protect themselves from being criticized.
Thanks Michael ,i would like to see prices go back down .
There is no more road to keep kicking the can, the dollar is collapsing. Start preping with food and weapons. People better hope Trump wins or this country is done.
😂 ... yeah, he reduced the deficit & the debt while he was in office the last time ... oh wait
@@jacqdanieles 🤡 enjoy ur pos communist party losing in 2024
How is Trump going to save you? Please explain.
Imagine when all countries will used own currencies to conduct bussiness worldwide bypass dollar. De dollarization will made US treasury bonds became junk , no one want to buy US treasury bonds anymore. How can US payback US 35.5 Trillion dollar and counting ?.
International Mafia Fund
Hyperinflation incoming
For the algorithm.
Thank you so much Edward!👍
Hit me up if you want to hear about the Dutch market! I'm American but have lived here for years, it's gnarly how quick they ruined their economy here by going from low debt to a real estate economy that is completely in outer space
very curious to hear about that. Hope you write Michael an email on the topic for a segment. The Dutch always seemed to have a great economy with a solid social safety net but apparently it’s changing fast and people have a hard time buying or renting homes
Non stop doom & gloom 😂
Spot on as usual Michael.
Buy gold !