Fed LIED About Lowering Interest Rates!
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- Опубліковано 8 тра 2024
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2:58 Kurt is a GEM! "Should I lower my expectations rate?", PURE GOLD BABY. Thank Kurt, you're a classic!
Kurt is seriously invaluable, the best co host in the game.
Isn't usa bankrupt a good thing? Fewer wars!
End the Federal Reserve.
I think there might be some truth to the conspiracy theory that the Titanic was sank because a few of the oligarchs who stood in the way of the creation of the Fed were on it. JP Morgan was supposed to be on that voyage, but canceled at the last minute. Similar to the many “important”people who just happened not to go to the Twin Towers on 9/11.
Now you have hit the nail on the head. Check out how it came into being and why ?
President Andrew Jacksonn was the only President who balanced the budget... no Govt debt..in ALL of America's history.
When you understand the history of the FED you will understand the 20th century and that happened in it.
Has KM ever made money with his unique brand of non-comedy?
RFK Jr. is the only one of the three main presidential candidates who criticizes the Fed and advocates for it to be reformed. The Fed sits at the center of many problems our country faces.
Did you know,...your income taxes go directly to the Federal Reserve ... Rothschield wants his pound of flesh,.... have agood day!!
“I have certain rules that I live by. My first rule? I don’t believe anything that the government tells me. Zero. Zip. Nada.”
-George Carlin
Isn't it interesting that he died exactly one week after doing a show that was harshly critical of the Establishment?
Indeed. If only so many on this channel has taken this advice properly a few years ago hmm?
It sounds like Debt Slavery.
"Debt Bondage" more specifically. Or _Indentured Servitude._ Remember _slavery_ is the original sin, unless it is to better serve "equity and social justice."
"BUt mUh sLAvEry b dIfFeRenTz! 1619!!!!"
Not really.
"1. Indentured servitude is a form of labor where an individual is under contract to work without a salary to repay an indenture or loan.
2. Indentured servitude was popular in the United States in the 1600s as many individuals worked in exchange for the price of passage to America.
3. _Indentured servants could be sold, loaned, or inherited, at least during the duration of their contract terms._
Today, indentured servitude is illegal in the United States and most other countries.
An illegal form of indentured servitude still exists as "debt bondage," a form of human trafficking."
_-Investopedia_
This basic understanding of "debt bondage" is so well defined, even _Investopdia_ can get it right without trying to twist it. The "loan" was just the justification for the slavery. But it was mostly "white-Europeans." So who cares? It's funny when they are slaved out, especially if it's the proper way. They deserve it. Right? It's even still going on throughout the Middle East and Northern Africa.
Now we just need to make sure they all know how terrible they are, and in their own growing "debt bondage" they kneel properly to their betters.
Right?
I can't physically lower my expectations any further.
But you will be happy.
The best thing about 20 years time is theres a fresh generation of kids where this kind of financial sitshow is normal. And then the rest of us who hate it. Will die off and nothing gets better. Its a slow boil that trancends generations of people.
I wasnt alive to see how awesome buying machineguns off the shelf was, but people definitely complained in 1986.
Most of them are dead now. And nobody really cares machine guns got banned
@@user-iz3gv7th6zExactly. Same thing will happen when this new generation decides to ban AR-15s and anything that holds more than 10 rounds. And in 20 years, there will be people saying exactly what you're saying. The cycle continues...
@@user-iz3gv7th6zExactly. Same thing will happen when this new generation decides to ban AR-15s and anything that holds more than 10 rounds. And in 20 years, there will be people saying exactly what you're saying. The cycle continues.
This Administration is running $7 TRILLION budgets! $2 TRILLION more than ALL REVENUE!
Yep... the U.S. government is the primary cause of inflation.
they sucking all liquidity out...
printing new Bills 4 their friends
Plus, bringing in millions of the worst people they can find.
Take their pensions!
I always thought revenue of $5 trillion could do the job - but these depraved politicians can't help themselves....
going to need to sew my pockets shut just to keep their hands out of them.
My grandmother was born in 1922 and lived through the great depression and always was in fear of another one. She grew her own food, had beef cattle, canned, saved water in charcoal lined jars in case we had no power, had a wood stove and lived on 15 acres she bought in 1947 for 1200 dollars that is still in our family. Im so glad shes not here to see what has happened to our country, but Im so happy she got me into gardening, canning, being frugal and raising chickens.
I was born in 1947 when there was only 2 billion people on Earth, now nearly 8 billion. No chickens in apartments
When you work on something that only has the capacity to make you 5 dollars, it does not matter how much harder you work - the most you will make is 5 dollars 💵
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Anyone that lived through the Carter years knows what is coming.
What happens next?
@@bergencounty6602 Persistent and devastating stagflation. It took the courage of Fed Chair Paul Volcker in the 1980's to raise interest rates to 20% to end inflation. Prior to the 1970's, single income households were common. That got wiped out by the end of the 1970's.
If you had savings, Carter worked out great for you. Earning 17% on a one year CD.
@bergencounty6602 It all comes crashing down. Inflation, rising interest rates, huge credit bubble….you know the rest.
@johnnypastrana6727 There are those with savings, and there are the masses who live from pay cheque to pay cheque. They take the full brunt of inflation and rising interest rates.
And they don’t care.
Anyone tired of feeding the gamblers while not feeding themselves
like an anvil chained around our necks.
Also tired of us giving them all of the Tax loopholes, and them using the extra money they keep to make everything even MORE expensive through their Rigged Equity markets
Grow your own food, folks. Raise chickens and invest in canning. Brace yourselves.
It's going to get so bad. I'm beyond glad that my family has a piece of property out in the woods, on a lake that I can go to at anytime. Far away from where the city slaves can get to once it all breaks down. As above, so below...
And stay alert so that your local government doesn't outlaw these things...by design.
I live in the inner city.
@harbinger_9152 Mortgage rates at some point in the 1980s were around 17%. I don’t recall any of my friends raising chickens or starting a vegetable garden to cope with it. Plus, not everyone lives in the country or even the suburbs. If it works for you, great. 😊
@@gwarlow National debt was only $2 trillion in the 80s. We're adding a trillion every 3 months now.
i like how from the end of the civil war till the establishment of the fed there was no regular inflation, and then BAM fed begins and inflation never stops.
That's what happens when using a Debt-incurred currency, as the US dollar is.
Isn’t interesting that most companies have a policy that raises can only be 2-4% a year, even though inflation is 8% a year.
I’m so, so, so sick of the greed. My entire adult life has been a slow realization that the world is being run by the kids on the playground that want ALL the toys.
God come quickly.
On purpose
God has always been here, Jesus is not God. Jesus is a messenger.
Image a world where we could afford to purchase a car, appliances, vacations...etc. paid in full up front? Forcing consumer debt, secures wealth longevity. The moment consumers no longer need to borrow, the elites would panic.
@@Zilma-jm8sz Yeshua is... Jesus is the jesuit version... False prophet martyr savior... Second coming is the setup for the antichrist
@@Zilma-jm8sz Exodus 33: 11-23
Matthew 17: 1-8
This is ridiculous, we can no longer afford to live under these conditions.
@may… So, what’s your plan? Just give up? Hope not. 😊
Its amazing that the public is suffering but all government employees are thriving
I have friends who work for the government ... no they're not thriving. They just get by.
In U.S. Congress ... yes, they are thriving on bribes and salary. Why make silly generalizations that make you sound like a child?
If you believed the Fed, you weren't paying attention. And you're probably not that smart.
Of course they lied. That's all they do.
I’m in training now for depression coming, eating less food 2x a day now and less expensive food trying to spread it out because this ish is collapsing.
Get chickens
Good news!
Fasting triggers autophagy which cleans up the cells and it reduces risks of depression.
I've been preparing for 40 years, I'm ready. I envy people who get free food from the government, I know half of it is going to some leech living with them.
@@UniqueBreakfastTaco I got 4 and have more eggs than I know what to do with. I give them to friends. Also you can see and taste the difference between my eggs and store bought.
@@cjgamer2140 I notice the same with beef... quality and taste far exceed anything I've seen in stores. Take good care of those ladies, and they'll take care of you. 👍
just lower your expectations should be bidens campaign slogan.
It's really impossible to expect less from this administration.
There shouldn’t be interest on loans …. The banks are loaning money they don’t have and charging interest for it …. I can’t loan someone $5 I don’t have, the bank shouldn’t be able to either.
Oh yes you can if you own the systen/means of control. Humans have been doing it to other humans for as long as we have been homosapians
@@donsolos No they haven't; it's called USURY and a certain Austrian painter tried banning it.
Or, here's a better idea, make laws so they actually have a real reserve requirement not just invent money out of thin air
That’s exactly why they destroyed Libya. So you can’t see the truth. Interest free works
@@rodiculous9464 ITS CALLED USURY.... AND HISTORICALLY CARRIED THE PUNISHMENT OF DEATH
Prices are going up and up, there was no way they’d cut rates.
Unless they want hyperinflation
Oh but they are; I expect at least 2 rate cuts later this year
@Daniellihomes If they do, it’ll be a pre-election sweetener. And it will create bigger problems.
@@Daniellihomes then you can get ready to use your money as toilet paper
Sounds like a great man made opportunity for a Great Reset! If only a world controlling organization with highly questionable motives would come to the rescue with this idea!!
Delaware is a 'Credit Card Industry State', and who do we know that was a US Senator from Delaware? That would be Joe Biden. He has always voted on the side of the 'Credit Industry' and has been deep in their pockets for a very long time. POLICY MATTERS
They used to call him “the senator from MBNA” instead of the senator from Delaware, back when mbna was the monster credit card company in Wilmington.
The older I get the more I appreciate the wisdom of my grandmother, rest her soul. Woman lived nearly 93 years and never had a credit card. Admittedly a whole lotta stuff I didn’t listen to her about that I should have but w all the dumb shit I’ve done, never had a credit card. Like the one good decision I’ve ever made lol.
To be fair though, I'm not sure if it's possible to buy a house without a credit card history. Heck even renting an apartment now requires a credit card history. Maybe back when she was alive things were different.
No comparison. Your grandma didn't need a credit card because grandpa's salary at the plant covered everything.
After being forced to file chap 11 due to medical issues in 2003, I opted out of the credit card scheme. Best idea yet.
And sell a kidney while your at it 🤣
The Nvidia 4090 GPU users already are. 😅
It's good economic policy to throw Americans out of work and into debt, but bad economic policy for DC to spend less.
This guy gets it
Don’t carry a balance on a credit card is personal finance 101
Thanks mom ... maybe people aren't making enough money to cover their expenses because of inflation, etc. Economics 101
25% interest used to be considered loan-sharking. You know, Organized Crime type of stuff.
Credit cards shouldn't be a thing to begin with. I forgot who said it, but the saying goes something like, "people are buying things they don't need, with money they don't have."
That was George Carlin.
All by design. The whole system runs on debt.
Rates aren’t going anywhere in 2024 - Biden-nomics
If the Fed cuts interest rates, inflation will explode.
Why is consumer spending strong even though we have higher prices? Rates will go down when people start limiting spending, but they're not. What do you think is going on?
It's all neoliberalism. 50 years of the same economic policy agreed to by both parties. Wall St bank credit over government investment.
This is beyond Biden MAGgot
Lol.@@SJ-vo1bw
FED NEVER said 3 cuts....banks predicted that
It was based off the Fed's guidance but you are right - some analyst on markets were projecting as many as 7 following Powell's December speech.
This end stage capitalism stuff is hilarious
2:58 Kurt is a GEM! "Should I lower my expectations rate?", PURE GOLD BABY. Thank Kurt, you're a classic!
Kurt you on roll
Rhodesia, Venezuela, Hungary and the Weimer Republic weren’t wrong 😂
Wimier and Venezuela had a collapse in their currency, not the interest rate, and I don't know about Hungary
@@mattboyer3385 Venezuela interest rates is around 58.98 % btw, might of not been the start of a downfall but its mostly the cause of the pain.
US Trump imposed a total economic embargo Venezuela
The Rhodesian dollar to US dollar in 1979 exchange rate was R$1/US$1.10..ten years later you couldn’t buy a loaf of bread with a wheelbarrow full of R$’s and people were starving to death, but hey, at least they had their freedom.
Ami right? 🤦
The chemistry among these people is so great. So funny, I was laughing along
if they cut rates now prices are going to soar higher.
I’ve heard some credit rates are above 25% right now.
It’s called “usury”.
35% for me
@@HedonisticPuritan-mp6xv I've had one credit card since 1972, never paid one dime in interest. I agree with you 100%.
It is even worse than that...buy now pay later accounts are well above $1Trillion and those accounts will NEVER be paid back
Against historic rates, rates are not really that high. They are still very low.
Stuck in the mud and floor it?
The dumbest thing I heard today.
“Lower my expectation rates”!!!! AHAHAHA!! 10 point for Kurt!
Emotion is energy in motion. As you feel emotion, you launch powerful energy that brings like energy back to you.
Keynesian: just print more money!
Monetarism. Keynes was against the money print on account of the inflationary impact on prices.
Or to give it its real name: taxation of the poor.
@@TheDiamond2009 Keynesian, not Keynes.
@UniqueBreakfastTaco Keynesian economics refers to the English economist, John Maynard Keynes, who focussed on taxation and spending. Monetarist policy relates to the money supply.
@UniqueBreakfastTaco We’re not fighting, squire! I come in peace ✌️
@@TheDiamond2009 you're thinking about this way too hard bro
If the Fed was Pinocchio, imagine how big its nose would be.
small banks are failing and the big banks will buy them at a good discount = bank consolidation ! monopolies are bad only for us the small people on the top they want to own it all !!!!
Jimmy, thank you so much for coming to Edmonton tonight. I loved your show and I have a picture with you now. I’m soooo happy. Your wife is awesome too.
Did he call him Kurt Mexican? 😂😂
Oh yea that was awkward. 😂😅
"Kurt mexican"😂 0:08
This financial guy is bogus.
What exactly is an “over eating economy” to a family who has jobs but is still homeless?” WTF?!
The US sofa needs a go fund me...and that isn't a joke! I am going to try to set this up on go fund me..
They interest rates should be capped at 20% for credit cards. Some people are paying over 30%. It's a scam.
Kurt Mexican?😂
In college, in the late 90s, I racked up about $100 on my first ever credit card, just from ordering a lot of pizza from Papa Johns, and then I just forgot about it after I graduated and moved away. Then a year later I found a job in Pittsburgh PA but couldnt get an apartment anywhere because of my credit score. My credit card company reported to all the credit bureaus that I defaulted on an undisclosed amount, which was effectively equivalent to possibly defaulting on hundreds of thousands of dollars. I was eventually able to get an apartment in a very seedy part of town, the Oakland district, where someone once told me that every male they knew that lived there was eventually mugged and every female eventually raped. But, thankfully, I made it out without either.
They need to hold rates as high as possible and as long as possible or we’re all screwed.
Not paying your debts only raises the interest rates for those who can pay...thanks Kurt!!
i always pay majority of my card on Closing Date (not due date), leaving only $10 or $15 on balance, before the Closing Date.
Then after the closing date, i pay it off right away or let the autopay take over, never have to worry about interest.
I never use the card if i'm not 100% i can pay it within the time frame of the Closing Date. (website shows it, with a little finding, most apps wont show it, only the due date)
Nobody who is not paying their CC debts is telling you to continue paying yours. There’s no social contract anymore. It’s every person for themself, unfortunately. You can be angry at people who figured this out well before you did, and continue living in your delusion that the contract exists, and see how well that goes for you.
@@katieandnick4113 like the Banks being bailed ?
Banks and corporations are getting bailed out in the U.S. to the tune of TRILLIONS in public funds over the last 16 years ... but it's all Kurt's fault! 😂
Americans ... dumber than rocks.
The economy in small town middle America is completely dependent on Social Security payments. The people that buy the flowers, hire the contractors, eat at the local burger shack... They are SS recipients. I know. I did the books for a small town business. All the money was made on the various SS paydays. The people that commuted to the big city did not spend their money in town, they were in the city and stuff was cheaper there. Look at any small town local restaurant's monthly budget. Take the peaks and compare them to SS paydays. This is not good, but it is what it is. People gotta eat.
Americans are forced to pay into social security while they work .... so hardly fair to ask them to starve to death while U.S. Congress sends hundreds of billions to Ukraine and Israel.
Thank you for the detailed information on small towns.
I don't think they lied - they just overestimate their ability to control the markets....
That was a good one. Instead of lower interest rates, they want us to lower our expectation rates
Most likely Fed isn't going to lower rates until at least october. The SS administration uses the CPI from June-September each year to calculate the COLA adjustment for seniors. If you watch the pattern this is what they do every year. If the Fed starts lowering interest now, inflation will rise, the CPI will be higher and the seniors will get a couple of extra dollars on their SS checks.
gonna be illegal to criticize the fed soon
I have to admit it's really weird watching Jimmy Dore do an ad, or any kind of publicity for that matter 😂
DON'T BUY ANYTHING ON CREDIT IF YOU WANT YOUR FREEDOM!
"Lesser of two evils"
Come on American patriotic citizens. TAKE BACK YOUR GOVERNMENT.
Credit card rates in the late 80s were 30% - Mortgages were 17.5% .. MORTGAGES !!!
Yes. And somehow people got through it. We are now used to having low rates for so long, we expected it to stay that way. Nobody seems to look back at history. It’s all there! 😊
Yeah because the median home price was $25K back then,
Interest rates have been artificially, low for last 100 years this is probably a needed natural correction
What are you talking about? Paul Volker raised effective rates to 19.39 percent in April 1980.
The monetary system has been a total fraud since 1913
@@MrB1923 Money will be worth more the moment they double the rates. If they raise the rates, I believe prices will drop. The printing presses are printing 24 hours a day right now.
@@MrB1923
Yes, you're right. Volcker did that. How do you know that THIS wasn't artificially low?
I'm asking because I'm curious. I'm not trying to come off as antagonistic.
If you pay your balance every month, then this crap doesn't bother you. Simple rules to live by: Do I need this product? Can I pay cash for this? Is the product a liability or an asset? The rule of five, for example, would be if the item costs $100, then you should have $500 to actually afford to purchase the item.
Not all debt is bad, but if you are worried about credit card interest rates affecting your monthly bills, then you need to learn more about personal finance before using debt to make money.
Of course they lied
Milton Freidman and Thomas Sowell have written books about this very situation. Economics isn't something they teach anymore in school.
Two clowns who speak for the billionarie class ... not average Americans.
Inflation is solely caused by deficit spending. High interest rates are the result not the cause and not cure.
I have a silver coin from old Livonia that was so thin it actually snapped in half!
And no, it wasn't so thin from simply passing among the hands of working people :
The charging of "interest" on money goes back to the old practise of money-lenders of "shaving" gold and silver coins each time one passed through their fingers.
After a while, "they" would have a bag filled with silver shavings and gold shavings, which could be melted down and sold ("free" money for them), while the coins themselves would get thinner and thinner and less-round lol
If we had public banks, the “normal” interest rate would be 1-2%, not 5-6%. Look at Ellen Brown’s work on the subject. Federal Reserve is a private central bank; there is nothing “federal” about it. Look into who owns it.
They are taking back the money they printed
Jimmy's guest: the solution to all your problems is to buy my product and invest in my company!
Same as every financial grifter.
I love when kurt laughs hard as hell at his own jokes
Lower interest rates will cause higher inflation. Higher interest rates will cause everything to crash.
You can decrease inflation by reducing government spending...
And we need a crash....it's gonna be painful, but it's either inflate ourselves to the point we cant afford anything or get people to stop buying sh!t (aka: crash). Either way, you ain't buying anything at some point in the future.
@@kylewatson5133government spending is part of the calculation for GDP. At this point, cutting government spending without doing something about the other parts of GDP calculations will cause a recession.
@@filmbuffoon It's addition by subtraction.
Those "other parts" of GDP are negatively effected by government.
Printing more money causes information.
Problem is you can't lower inflation when it's due to straight profiteering.
You'll see everywhere that companies are saying prices are high due to inflation while making record profits.
Until laws are introduced to limit profiteering, prices will remain high and keep getting higher until people simply can't pay.
This is not about an oversupply/surplus of money. This is greedy corporations making as much as they can, as fast as they can for as long as they can.
So we as consumers end up paying more for everything. Much of which is essentials. Food, mortgage, living costs, fuel. Then to top it off we are paying more on the inevitable debt we have in life. Mortgage, car loan, credit card. Meanwhile banks just create loans from nothing. No wonder they are making record profits thanks to interest rates also.
They broke the system with all the quantitative easing, zero and even negative, interest rates. Constantly bailing out too big to fail organizations.
It's a one sided bet. They win, they keep all the profits. They lose, they declare bankruptcy and try again. Tax payers foot the bill. Meanwhile you'd lose everything and you won't be bailed out. Fiat money is eroded to nothing. The system is ruined.
It’s a good thing keep them high.
His lies are what moves the markets.!!
Yes, especially his credit cards.
Personal loans in Canada with companies like:
Spring Financial
Easy Financial
Fairstone,
And about 50 others, is 44.00%-49.99%
Credit cards are 19% on average.
They ADVERTISE rates roughly ¼ the ACTUAL rates they end up offering you after the application.
My Capital One CC is changing from Mastercard to Visa. (For some reason) The interest rate is going up too!! It was ridiculous at 25.8%. Now it's 28.8%!!! Unbelievable....
I'm probably too european to understand but why does anyone have a creditcard? Buy things with ... uh, money?
haha "and kurt mexican"
All I can say is one word
Silver Silver Silver
Lol. Is it going to the moon! Please tell me it's going to the moon
@@donsolos Look what 'THEY' did to gold during the Weimar republic. Gold vs. The mark
That’s 3 words
@michaelwills1926 No, it’s only one word….repeated twice.
Lot of upside in Silver, I like it.
Rates need to go up
I am glad that they lied about losing the interest rates. The rates were too low.
We should not be lowering interest rates. They need to increase to deal with this inflation. We also need to stop printing money to send to loser countries.
The money printing got us into this mess.
It's a fridge for the economy 😂
Said it for years now. Credit cards and debt have replaced living wages.
So, I guess we can forget about Mastercard ever sponsoring the Jimmy Dore show... 😆😅🤣🤣 Kurt is on fire here.
I was too transfixed by the guest's eyebrows that i didn't comprehend what he was talking about
Did he steal eyebrows from nancy pelosi
Jimmy you are not lying about Gold, I have bought Gold & Silver my entire life, It feels good in your hand, best part, no matter what happens to the paper, your covered. Not to mention, I sleep really well at night . As far as the interest rates go, the rates actually need to be around 12 % for CD's and 16% for Consumer loans. Let the hide go with the hair. It's the only way out.
How do you spend gold and silver? Don’t financial institutions charge a fee to exchange minerals into cash? Honestly curious. 😊
@@gwarlow I don't sell, I buy. I would think if a person wanted to sell, he would just go online the price is posted daily. Spot market.
The fed needs to leave the rates where they are. Lowering the rate will only make house prices skyrocket
Watching from Mackinac Island Michigan
If you want low interest, stop complaining about inflation
So jerome Powell is adjusting rates based on whether he hears complaints or not ....
I like your new co host Kurt Mexican. Lmao, thank you Jimmy.
I want a U Turn sign at our borders.