True , but most folks nowadays are asleep even while they're awake . Their perception of the truth is nill . This world is in free fall right now , and people think that this is " The Golden Age of Opportunity " . They don't realize that there's no parachute to stop the crash at the end of the " Fall " . And Mystery Babylon is falling .
Fleck is great! He talks about watching out or expecting news bombs from time to time, and within just 2 hours of this podcast release, they announced tariffs on Mexico and Canada which spook the market. Well done, always enjoy listening to Bill.
Why do people keep saying "When boomers START withdrawing money"?. The oldest boomers are almost 80 already. Half the cohort has been withdrawing for almost 15 years already.
All my life I watched grants and subsidies get abused by companies, organizations, etc who could not get *_more,_* unless they spent every cent already received. Every admin creates *_new_* "bureaus," "committees," "contractors," etc. I bet finding $600B to cut would be *_easy_* (probably in college and university grants alone). Edit: I'm 71yrs
I have no problem with the US doing a means tested SS. If I in fact have too much assets/net worth to "need" a SS pension, all they would have to do is refund me all the premiums I paid and that my employer paid on my behalf both indexed to today dollars and we'll call it even. I actually lose in that case, but whatever. In no scenario does the government get to keep the premiums paid and not pay me the promised benefits. That is a breach of contract. In any case, any such major changes to SS cannot be immediately implemented. There would have to be at least a 20 year grace period before such things could come into effect, meaning those today within 20 years of full retirement age would not be affected (ever). Same goes for raising the full retirement age, eliminating widow assumption of benefits, etc. In order for those to come into play today, they would have had to be implemented 20 years ago.
The passive bid -- it's all that matters -- Bill knows that. Trouble is going to come when flows turn negative, and the retirement system takes a huge hit
Social security was supposed to be self funded. To cut this benefit to those who paid into it due to excess spending that basically ended up in oligarch hands. …maybe this would even upset some MAGA’s.
I would like to address the "means tested" social security. How can you tell what the financial condition of a person will be when they reach 62? If they will not be able to receive social security because they have made too much money, then how can they be re-compensed for the money they paid in plus the interest? A means-tested social security is nonsensical. What if they go broke at the age of 70? What then? Bunch of idiots watching this channel and interviewees that are bigger idiots. What if the person is rich when they are younger and poor when they are older and didn't put in money in social security as they would not be qualifed at that time to receive it because of means-testing? Adn what about the people who make $150,000 a year? Are we going to force them to pay into a system they are not likely to receive any funds from later? Or do we exempt them, they very people who could help fund social security? What an idiotic proposal.
For most economies there is not a big pot saved up, it is mostly taken from future tax revenues. What happens if the current generation can’t afford the pensions of the past generation? Unfortunately this is a unique experience which hasn’t happened before. Means tested would be based o your assets/income. So if you were retired and dropped below the threshold, you could then claim retirement benefits. Does someone who has millions in the bank need £200 or $200 a week?
@@WTFinancepodcast Well, we can afford to send billions to Ukraine and pay for all of their goverments incomes. How about stop taking mone out of social security funds that PEOPLE pay into and paying those funds back. And it is a ridiculous theory to think that future generations are paying past generations. Those people and their employers who pay into their social security accounts are supposed to be paying into THEIR social security accounts. I AND MY EMPLYER PAID INTO MY, MY, MY ACCOUNT.. I never paid into someone else's account, and if I did, the government mismanaged MY account that I AND MY EMPLOYER paid into. I did not put my social security payments into my grandfathers or fathers account. I put it into MY account. AND it is NOT whether or not they NEEDED it, it is wherther or not they PAID INTO IT AND ARE ENTITLED to MONEY back. So, if I have a savings program, the government can come and take it because I have TOO MUCH MONEY and give it someone else? You are ridiculous.🤡🤡🤡🤡🤡🤡
@@WTFinancepodcast Why isn't a big pot? I challenge the "belief" that the money in MY account is taken from past generations. I and my employer put 15% of MY income into MY pot! Why isn't it there? What happened to it and all the INTEREST it should have earned. You assume that current generations are paying for past generations. Where did you even come up with that? Current generations are actually, by law, paying into their OWN accounts. I am NOT going to pay into a system that "means-tests" me. So, you walk into a bank and put your money into a savings acount regularly over the decades and when you retire you go to get your money out and they say "Sorry, you can't have your money because you have too much money". That's insane. You're going to confiscate the money from the rich to pay for the poor. And having that means-testing, it would induce people do spend all their money and divest themselves to get their pension. It would create a morale hazard. If I put money into a retirement program, I expect to get it back out again. What would be the 'cutoff" point? The people on the line are always the ones who get hurt the most. You're living in a commie state of mind. Absolutely ridiculous Robin Hood.
Do you agree with Bill that the FED are going to continue to have issues with the bond market?
I like to listen to these kind of programs when i nap every day, they put me right to sleep
True , but most folks nowadays are asleep even while they're awake . Their perception of the truth is nill . This world is in free fall right now , and people think that this is " The Golden Age of Opportunity " . They don't realize that there's no parachute to stop the crash at the end of the " Fall " . And Mystery Babylon is falling .
Fleck is great! He talks about watching out or expecting news bombs from time to time, and within just 2 hours of this podcast release, they announced tariffs on Mexico and Canada which spook the market. Well done, always enjoy listening to Bill.
Doge and everything else trump is doing will just push the US into recession that much sooner
Why do people keep saying "When boomers START withdrawing money"?. The oldest boomers are almost 80 already. Half the cohort has been withdrawing for almost 15 years already.
Yeah they’re anticipating the second half since they’re basically two generations, I think. But idk.
And they have so much they are still 70% stocks at 78 because it’s just going to their kids
Excellent show!!!
Thank you Anthony.
OVER 700 BASES WORLDWIDE !!!! THATS THE REAL DEBT !!!!! SO DONT BE FOOLED !!!!!!!!!!
PENTAGON WAS AUDIT AND CRICKETS !!! THIS WANTS TO FINISH THE PEOPLE OFF TAKING THEIR MONEY
All my life I watched grants and subsidies get abused by companies, organizations, etc who could not get *_more,_* unless they spent every cent already received. Every admin creates *_new_* "bureaus," "committees," "contractors," etc. I bet finding $600B to cut would be *_easy_* (probably in college and university grants alone).
Edit: I'm 71yrs
I have no problem with the US doing a means tested SS. If I in fact have too much assets/net worth to "need" a SS pension, all they would have to do is refund me all the premiums I paid and that my employer paid on my behalf both indexed to today dollars and we'll call it even. I actually lose in that case, but whatever. In no scenario does the government get to keep the premiums paid and not pay me the promised benefits. That is a breach of contract. In any case, any such major changes to SS cannot be immediately implemented. There would have to be at least a 20 year grace period before such things could come into effect, meaning those today within 20 years of full retirement age would not be affected (ever). Same goes for raising the full retirement age, eliminating widow assumption of benefits, etc. In order for those to come into play today, they would have had to be implemented 20 years ago.
I just invested thousands of $$ never listen to these ppl on UA-cam
🤣🤡
The passive bid -- it's all that matters -- Bill knows that. Trouble is going to come when flows turn negative, and the retirement system takes a huge hit
Treasury bonds started a rally on January 13
Social security was supposed to be self funded. To cut this benefit to those who paid into it due to excess spending that basically ended up in oligarch hands. …maybe this would even upset some MAGA’s.
Where have all the specialist gone
There so much on UA-cam 99 of these shows
Really useless but Fleck have to listen
The Stein's bern whining since 90s. Hes still around?😮
I would like to address the "means tested" social security. How can you tell what the financial condition of a person will be when they reach 62? If they will not be able to receive social security because they have made too much money, then how can they be re-compensed for the money they paid in plus the interest? A means-tested social security is nonsensical. What if they go broke at the age of 70? What then? Bunch of idiots watching this channel and interviewees that are bigger idiots. What if the person is rich when they are younger and poor when they are older and didn't put in money in social security as they would not be qualifed at that time to receive it because of means-testing? Adn what about the people who make $150,000 a year? Are we going to force them to pay into a system they are not likely to receive any funds from later? Or do we exempt them, they very people who could help fund social security? What an idiotic proposal.
For most economies there is not a big pot saved up, it is mostly taken from future tax revenues. What happens if the current generation can’t afford the pensions of the past generation? Unfortunately this is a unique experience which hasn’t happened before. Means tested would be based o your assets/income. So if you were retired and dropped below the threshold, you could then claim retirement benefits. Does someone who has millions in the bank need £200 or $200 a week?
@@WTFinancepodcast Well, we can afford to send billions to Ukraine and pay for all of their goverments incomes. How about stop taking mone out of social security funds that PEOPLE pay into and paying those funds back. And it is a ridiculous theory to think that future generations are paying past generations. Those people and their employers who pay into their social security accounts are supposed to be paying into THEIR social security accounts. I AND MY EMPLYER PAID INTO MY, MY, MY ACCOUNT.. I never paid into someone else's account, and if I did, the government mismanaged MY account that I AND MY EMPLOYER paid into. I did not put my social security payments into my grandfathers or fathers account. I put it into MY account. AND it is NOT whether or not they NEEDED it, it is wherther or not they PAID INTO IT AND ARE ENTITLED to MONEY back. So, if I have a savings program, the government can come and take it because I have TOO MUCH MONEY and give it someone else? You are ridiculous.🤡🤡🤡🤡🤡🤡
@@WTFinancepodcast Why isn't a big pot? I challenge the "belief" that the money in MY account is taken from past generations. I and my employer put 15% of MY income into MY pot! Why isn't it there? What happened to it and all the INTEREST it should have earned. You assume that current generations are paying for past generations. Where did you even come up with that? Current generations are actually, by law, paying into their OWN accounts. I am NOT going to pay into a system that "means-tests" me. So, you walk into a bank and put your money into a savings acount regularly over the decades and when you retire you go to get your money out and they say "Sorry, you can't have your money because you have too much money". That's insane. You're going to confiscate the money from the rich to pay for the poor. And having that means-testing, it would induce people do spend all their money and divest themselves to get their pension. It would create a morale hazard. If I put money into a retirement program, I expect to get it back out again. What would be the 'cutoff" point? The people on the line are always the ones who get hurt the most. You're living in a commie state of mind. Absolutely ridiculous Robin Hood.
For sure the long end of the bond rates will drop when things collapse and the fed has to lower short end to zero.
We have a DEBT BASED FINANCIAL COLLAPSE.
If you can burn a book you can burn a bond I would absolutely refute twelve trillion immediately
Put me in there with Elon,l,ll show him how to cut government spending.😮
The main thing this guy's got going for him is his head of hair.
500 b in cuts is dwarfed by tax cuts for the oligarchs and sovereign debt interest increases on 36T on sovereign debt. Hmm.