Get more out of your credit cards with Kudos → save.onelink.me/4iKP/davidlin Use code "DAVIDLIN" and earn $20.00 after your first eligible purchase! Submit to us your questions for Prof. Hanke's next appearance! My email: david@thedavidlinreport.com Prof. Hanke's email: hanke@jhu.edu As always, "like" this video and subscribe!
Will Your Assets Be Confiscated? As a former cop, and a veteran of two urban riots, please allow me to share my thoughts. If those in "supposed" power attempt to seize assets that required a lifetime of hard work, blood, sweat, toil, time, tears and sacrifice to earn and save to benefit themselves and their families, then all semblance of a social contract with that government will be shattered with no turning back! If everything is taken, then what does a person have to lose? Believe me! I have witnessed the reality of uncontrolled urban riots decades ago, and the nightmare of that truly frightens me to the core! CBDCs must be stopped at all costs as well, as I genuinely fear that could mean the end not only of personal freedom, but the Republic, and quite possibly the end of modern civilization itself. What would be the incentive to dedicate yourself, work hard and sacrifice only to allow bureaucrats to control every aspect of your God-given life?
listen to likes of judge Napalitano on internet and Greg Mannarino about finances issues. I have, certainly explained a lot more to me. The what, whenfores and how.
If a man with nothing lands on the moon, mars, or a desarted iland. The first thing he should do is form a goverment and central bank so they can print there way to take care of him! Lol governments create nothing they only take away from those who do to give to those who wont. man with nothing is just a man working hard to injoy life before a big goverment takes it away.
Go read the book , The Grapes of Wrath. Everyone was losing their farms due to rising interest rates , demand collapsed , jobs were lost and prop. taxes increased. That is how asset seizure occurs.
@@marteanderson7963 no it doesn’t, that was a lesson from history that farmers have learned, they must take care of the land or they will not survive, now it is the government and the big ngo’s that cause the financial ruin of landowners, then they can legally buy up that land and restrict the natural production of our food, they are playing the long game, where we will be eating bugs and lab grown food, and growing our own food will be and actually is starting to be outlawed, look at the Amish farmer being persecuted for not having broken the law
I’m glad you brought this book up. I have read it three times. The first two times it was a story about our history. The third time, it was a futuristic novel! History repeats itself.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
You don't need an Oxford degree to understand that if you mindlessly give away money for ten years, encouraging people to go into debt, and then suddenly do the exact opposite, the country will go into disarray.
Communist control over a population is impossible if they are affluent and not necessarily educated but intelligent with the ability to improvise and innovate. @@BigJohnson-g3j
We still have massive inflation. Gasoline now is at $4 in my state. Highest ever. Food prices are going through the roof. My homeowner's insurance doubled. My car insurance doubled. My electric bill went up 30% +. I just got rid of my internet service because it went from 40 to 87.00.
@@Superliegebeest0 I have no TV, no TV service, no internet (only at this time), and I use my phone for comments like this. A cell phone does just about anything and everything.
This professor has the same sense of humor when I was a teenager. It’s kind of endearing to watch a genuine soul so unaware of how the world around him has become calculated and corrupt.
Prof Michael Hudson said what he learned by going to university for an economics degree was that the professors didn't understand economics, what they were good at, was teaching the 'accepted theories' that were mostly wrong. He started out as a financial analyst for a major bank, I think it was Citibank.
@@William1866 He's actually not a Trotskyite, and I seriously doubt you understand what that would mean anyway, but he's still far better than this clown. The only thing this guy has going for him is that he's telling you what you want to hear.
@@William1866 Do you even know what being a Trotskyite would mean? I guess you think mass democratization and having a united front against far-right parties would be a problem. In any event, check Hudson's history, he averaged about a decade in each position and each change was at least as good as the one he left, by comparison, Hanke's career is, well, he never really did _work,_ he was an advisor while he wrote books and supported the disastrous Reagan move to 'supply side economics', most of his positions were a couple of years at best. Between him an Laffer, they helped set up the conditions for the hollowing out of Western economic systems and the obscene income disparity we 'enjoy' today.
You are talking about all of us having to work longer because the life expectancy keeps rising but the opposite is the case, life expectancy in the US has been going sideways or dropping for 10 years now.
David seems rather impatient today. I know sometimes it seems like Hanke's brain is processing at the speed of a dial up modem, but he is pretty smart over all and correct about most things. Worth listening to and being patient for.
@@Fearzero Actually he's not I don't think. I reckon one would be a fool to dismiss lightly, such a learned mind with so many decades of experience on the effects of fiat currencies. Just my opinion.
@@Fearzero Intelligence doesn't correlate with future quotient (understanding new technologies' role in the future). If he was very into technology he would be investing into startups and 3x'ing his money every year
talk about fertility and wealth inequality. If both potential parents need to work to make ends meet this is a disincentive to burden oneself with chidren. The share of labour of the economy has declinde since the 1970ies. A common story in industrialized countries is: My father had a simple job , provided with his income for a family of 4 , build a house and got rid of the mortgage before his retirement.
The sanctions imposed upon Japan by the US prior to the Japanese attacking Pearl Harbor worked just as the US government wanted them to work. So the statement that sanctions never work is invalid since sanctions can be effective in provoking a response which can include war.
I have heard something to the effect that the bankers told Roosevelt that he needed to find a way into the war. Key event followed. Today, I believe the plan is to get a huge war going and drive investors into the safety of the US Dollar.
He’s just saying anything negative about republicans basically which is expected from a professor. He also mentioned “what’s wrong with decreasing population?” Which is a constant talking point lately at WEF among elites. Then he contradicted himself when David pressed him on the fact more population correlates with better life’s across the board
Steve Hanke might think inflation will be within the 2% target by the end of the year, but I don't! Now we have Neel Kashkari saying no rate cuts before year end, oil moving towards $100 a barrel by Summer and potentially $150 by year end natural gas flying up and Biden failing to refil the SPR as he said he was going to. Inflationary pressures in the US are far greater than deflationary so my money is on inflation rising quite sharply and not being anywhere close to 2% by year end.
Summary: Fed saying it is "data dependent" is just an excuse to print money as long as the ensuing inflation is confined to housing inflation and stock inflation, rather than consumer+wage inflation. This is what happened in 2008-2018. As long as China would sell us goods and Saudi Arabia would sell us oil, accepting the US dollar as payment, although USD was continuously being devalued due to money-printing, the Fed was happy, the rich got richer (increasing house+stock prices, tax breaks paid for by printing money (rather than having the spending paid by taxing the rich)), and the poor got poorer (their labor and savings lost value every year, but the poor got by via inexpensive China consumer goods. In 2018-2020, Fed was starting to unprint money because people were starting to wake up to the reality of the inflation damage being done. Then the March 2020 Covid19 panic-printing of 5T USD happened because Fed wanted to protect the wealth of the wealthy. And absolutely horrific inflation occurred in housing, stocks AND consumables (food, energy, ....). And here we are. The country is a giant disaster and we are starting wars all over the place to cover up the problem and make other countries pay the price of our sins. Similar to 1918-1929, and one major cause of World War 2.
Pushing back what age you can retire is so short sighted. Just because people are living longer doesn't mean they are able to keep working longer. People after 60 usually put out lower productivity so keeping them working because we can't guarantee they are housed and fed is a failure of the system.
Very Good Interview David! Steve Henke is spot on ! He is the definition of common sense ….. people need to listen to him very closely ….. he says it all ….. people should listen to what is being described and hear the truth instead of hearing what they want to hear.
People need to wake up and realize the money they have is relative to the money supply, and they are losing 3-6% of its value every year. Opt out and buy bitcoin....or get in the stock market.
@@Scorch428 The powers that be want you in crypto…. That is the next step to the Fed coin. I’ll stick with Gold and Silver. Bitcoin is just another form of fiat currency.
Jobs are disappearing, Stelantis, Tyson, Quaker Oats. Pride trucking had 20k rigs going BK. 371 of the 99 cent stores are going out of business. This is just the last few weeks.
99 cents stores dependent on product closing a irregular supply vs walmart and kroger not a chance, quaker oats might as well forget it no one eats. pride trucking cant compete, tyson hires illegals, stelantis cost control less workers more automation cost cutting and deletion of companies that cannot compete under current the current enviroment
Japan is a good example of how far and how long this can go on. So do you want to be eventually right or make money. If you want the former, listen to Hanke.
I understand the Professor places great weight on the money supply contraction / expansion which is supported with an enviable track record on inflation predictions. Surely the record level of debt which continues to be accrued in the US is also a very important consideration. As a regular listener, I'm almost thinking that if the Money Supply is in balance correctly the Professor is suggesting the economy will be Ok. Surely there is a limit to the amount of debt the US can bear regardless of M2. I would respectfully suggest that once the ability to service debt has been breached beyond available revenue from taxes or other forms of revenue, the economy is but a short distance from collapse regardless of M2.
Good interview, with 1 exception. Older people don't pay for the debt being accrued today, younger people do. If you're 80 and retired, you've got another 10 years above ground at best. If you're 40 and still working, you will quite literally be paying for this debt until the day you die in 40+ years. Deficit spending is a tax against the young.
65 Y.O. here .... This past two weeks I spent $7500 tax on a new vehicle, $9,000 on property taxes, and $25,000 income taxes. I also gave them $120 in tolls this week, $120 in gas taxes, $30 in motel taxes for one night....(thank goodness I brown bagged my lunch and had tap water to drink. ) Then there is the inflation tax the government has stolen from any fiat I had, when they ran deficits and doubled the money supply during 2020/21. Lad, they are going to tax you until you get buried, and then tax you on that too.
@@Fearzero You are excited about btc fluctuations as a speculator. But to solidify your profit you have to sell it. You can buy it again when btc prices drop. This is a great speculation, but it is not fulfilling the definition of money. Real money is stable.
Your explanations are clear and straight forward It's always a honor to have you here as a mentor, I appreciate you for the time being spent to educate us financially. Regardless of how bad it gets the economy, I still makeover $28K every single week. I truly value Herrick Malia, and her helpful guides
I know Malia, she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives. The very first time we tried, we invested$2000 and after a week, we received$10,500, that really helped us a lot to pay off our bills
I don't agree with Professor Hanke's analysis, because he's using published governmental data. He's assuming that current inflation is 3%. That doesn't reflect reality. Shadow stats has inflation at 10% to 12% inflation and the Federal Reserve has stated that the 2% targeted inflation may have to revised to 3%.
Huawei executive wasn’t in jail. She was under house arrest in Vancouver living in her very comfortable looking home. Canada has a mutual agreement with the US regarding persons under investigation. Canada paid a severe political price and monetary price to the two Michaels held hostage by China in response. The Michaels actually were in jail too.
Singapore ask retires to move out of their big apartment and get a small apartment close to their children and pay a stipend of half the cost of the apartment but must be a close to their children 1/4 mile max. No other social security is automatically given 7:25
Hanke seems like a good guy but his use of government CPI makes all calculations worth a good cartoon. The 1980 calc before the CPI was corrupted to enable theft via inflation is the only accurate figure. Even the 1980 CPI underreports cpi to some degree. Scarce desirable assets put 100 year CPI at 7.5%.
One opinion is that gold will not be confiscated as it was in 1933 because there simply are not enough people holding it for the government to go through the trouble of confiscating it. The rough calculation is that under 2% of the worlds gold is privately held in the US. Back when it was confiscated nearly every citizen held gold
The rise in PM is because gold is going to the east and central bank have been stockpiling for years. Why . Confidence in the Petrodollar is waning! They most know something and have a plan. Joe is spending $1 Trillion every 100 days. What happens when our government can’t even pay the interest of the debt. More tax’s , inflation, CBDC, more control.
I would have loved private social security. The government steals some of my social security ( windfall) because I worked a job with a pension during my last 20 years. So unfair! This needs to change.
And, money that I put in and don’t use should go to my heirs, not back to government. It was my work/money/time that went into this…..my heirs should benefit. If there would have been an opt out option- I would have done that on a heartbeat and put that money into a Roth.
@@alexk1843 how much deflation will we have after the bubble burst is the question? After the bubble burst in 1929, and then again in 2001 the stock market went down more than 83% both times. I suspect when it happens again, house prices will collapse more than 90%. Everything returns to the mean.
Why don't people who talk about Social Security ever talk about the number of people who are dieing (leaving the system) and when the numbers of dependents start to decline. The elder population should reach a tipping point where they for some period of time should have less stress on the system.
As a physician, I almost ALWAYS have to “water down the wine” so patients can understand doctor-speak. Over the yrs, I think I’ve done a pretty good job. This guy, and other economists like him, seem to run in circles with their laborious explanations. Now I get the money velocity concept! Well, I’m being polite. Even the interviewer was squirming but then tried to clarify money velocity. Both did a poor job, imho. Yes, mathematically, it can be complex. All the more reason to know your script so well, you can forget it. Then explain the concept.
Great stuff fellas! Keep it coming. It's cool having a producer question in the Q&A, I wouldn't mind seeing that on the reg. Side note: D-Leezy's hair game switch up's are baller af.
It's impossible for the US to go "bankrupt". It has a printing press and can service any debt denominated in dollars. Of course, that's not to say that the printing press can't trigger a destructive bout of inflation.
This is outstanding content. The Prof is fantastic! I've never studied economics but time and again I go to Prof Hanke here on utube, to fill that void and understand what's really going on in the economy. Occasionally we get real gems on what to do in "the markets" (This episode the 10yr bond). So my questions? 1/ Is there an online course I can do? ( John Hopkins Applied school of economics would be awesome!) to broaden my knowledge of the quantity theory of money? and 2/ What primary source book on the quantity theory of money, should I read? (as a lay person to economics). Thanks
We are living with the inevitable result of deindustrialization, finacializarion, rentierism, an astronomical debt to gdp ratio, and declining standards in education and culture with concomitant political dysfunction. That unfolding result is collapse.
Today, you need to install 1 app from the shop, 3 more apps, just to get reasonable prices that you got 15 years ago before having any app or phone. If you travel to other area, you are just screwed by shops not knowing about these.
They have known since 2001 that there would be a population collapse due to aging and declining populations, see United Nations document about migration eong a solution to aging and declining populations. The is a political agenda of the UN Sustainable Development Goals around migration. Migration is supposed to help make our systems solvent. These migrants are the new labor pool. There a global conversation about raising the retirement age. This is why the boarder is open and the US Congress voted in the Office of the New Americans. Americans are being gaslighted.ven more concerning is that the US State Department under Kissenger put out the Kissenger Report, which discussed using agriculture and education to reduce fertility globally. This came out in the mid 1970s. About the same time "The Limitations of Growth" from the Club of Rome.
I think we will pay the "inflation tax" it is more stealth... just have to cut 1031 out of the law and tax home sales. Think about it. If you have an asset, when you sell it you are taxed on the gain, so during high inflation the gain on the sale of the inflated asset is taxed more.
the FED doesn;t want to tell the people that the money supply changes (bulk cash boost for the rich) are a sig factor in inflation. (esp in asset prices...aka: people's homes)
Thank you for this interview david. I actually like to listen to Dr hankey. He actually breaks things down in a way that I understand believe it or not.
Inflation isn't going down. Example Vichy night cream went from 75mm to 50mm & that is a 50% increase in cost. Plus there was a price increase on top of that. So 2 or 3% inflation is B.S.
Please ask professor how is it that we keep hearing that money printing is out of control and at the same time the money supply is shrinking this sounds contradictory please clarify
I think it’s related to the programs in US. Like IRA initiative, debt forgiveness for student loans, welfare…. Etc so these initiatives pump $$$ into the economy, rather than the money thrown out of helicopters etc during covid…. Just my theory anyway
How can you say that inflation is on its way out when we are adding $1,000,000,000 to the national debt every 100 days? Do you think we’ll just be able to pussyfoot around the inevitable? We might be able to kick the can down the road until you die but the young people in this country have no hope of a future in this economy. Too many inflationary pressures for inflation to go away at current rates. Interest rates need to be above inflation rate to quash inflation.
Working towards sustainable (static) population size is not discussed enough. Of course this requires financial planning and an adequate social security savings plan throughout adult life. Green Peace chose not to push this policy position because it was considered too controversial. Govts currently and historically have failed us regarding international relations. The old British Whitehall system at least provided a core of govt competency. WEF has been quite damaging.
1. Yes,... the "commercial war" with china is all the US's fault, The US, who made china a world class manufacturing base, is being unfair against china. And the US is confiscating American assets,.. according to Hanke. But when an American company does business in china, it has to be owned 51% by a chinese/CCP company. That's not unfair,.. according to Hanke. And sanctions against russia for attacking Ukraine is also unfair against russia. America is just one bad country and should bow to if not be punished by china and russia who should be allowed to do whatever they want. Btw,.. that's sarcasm,... and I despise the senile ole joe admin for destroying the country,.. but America is not the unfair one here. 2. And as I explained in other videos,.. his tired ole Quantity Theory of money doesn't work to determine inflation,.. or not in developed economies anyway. And his taking the log of MV=PQ and differentiating to create an addition equation, didn't make anyone's "eyes roll back". The Hanke "golden rule" hasn't worked. And it's not due to the black magic of the "long and variable" lag. The only place where inflation is strongly proportional to money supply and NOT supply and demand in general,... is in these 3rd world sheetholes where they print money out the wazoo and Hanke gets his anecdotal data. This is fiscal dominance. They don't have a functioning bond market because interest rates would be astronomically high. Otherwise, in normal economies,... inflation is a function of supply and demand of commodities, labor, technology,,.. and on and on,. and to a major degree the supply and demand of money,.. which has 2 components,.. that effect it 1. monetary policy and 2. fiscal policy which act much like real and imaginary numbers in trigonometry or a phasor diagram in electricity and magnetism or 2 or 3 dimensional vectors in mechanics,.. where fiscal policy, deficits spending, helicoptering checks is projected on a vertical axis and monetary policy where the Fed adjusts interest rates or does QE is projected on the horizontal axis. The more projected on the vertical axis, the more it contributes directly to inflation. Because monetary policy is used to provide or restrict reserves to the banking system,.. which uses those reserves to generate money through loans that are attached to an asset and an obligation to be repaid. Not necessarily inflationary. Just see Japan. Fiscal policy, these days,... involves direct payments to consumers with no asset attached to it or an obligation to pay it back. Extremely inflationary. Japan doesn't do that. We're not quite at the 3rd world sheethole stage yet,.. but we're getting there, Hanke needs to retire.
EVERY STATE MUST REWRITE THE TERMS OF THEIR UCC AGREEMENT IN ORDER TO PROTECT THE PEOPLES' ASSETS FROM SEIZURE. ALSO, EVERY STATE NEEDS TO CREATE A STATE-SOVEREIGN BANK TO KEEP LOCAL MONEY, LOCAL, AND AWAY FROM THE EVIL SCHEMES OF THE CENTRAL BANKS. STOP THE UPFLOW/OUTFLOW OF STATE MONEY.
S.S. relies on more and more young people coming into the system, so it will ultimately be replaced by a "private social security system" he says. However, the entire economy relies on more and more young people coming into the economy, also. So what the hell, man.
I remember Janet Reno decided to take a mans family and friends away . This man did not like that one bit and brought out the worst of him. Taking assets away by force is very dangerous.
I paid in hundreds of thousands into retirement and my employer paid in hundreds of thousands! I should have been able to save that and would have retired fine!
Ya I think in one of the previous videos hanke answers a question about total liquidity. Hanke disagrees. He says there is no evidence TGA outflows have worked that way historically. Like no example of an economy where fiscal policy was stronger than monetary policy. I think Howells point is that the modern economy is financialized. So debt just gets turned over. There is not much capital spending anymore. Therefore liquidity is all important - getting loans for your existing debt. And that’s why every financial issue in the past 20 years has been related to financing debt. Howell also disagrees the yield curve has inverted and says the inversion is artificial due to treasury t-bill funding.
Inflation, the creation of money, is obviously contracting but this is transitory (truly transitory). Once they are compelled to commence ‘printing’ to ‘save’ the system but is in reality is cover to insulate Wall Street speculators and private equity, who addictively made bad bets and continue to do so (Bitcoin and AI latest speculative craziness) big trouble is ahead. Wall Street undoubtedly in process of attempting to offload that risk to retail investors but if they are unable the Treasury through the FED will do so with another round of inflation tax (QE) against the public in order to bail Wall Street out yet again. My concern has always been increasing the money supply BEFORE reducing rates - an utterly idiotic COA.
They'll start with the billionaires and work their way down and from what I've seen many billionaires feel so guilty about their wealth they go along with it. For example, why are any billionaires or millionaires still living in California or New York? Why are there any still left living in the U.S.?
What are the prof's views on china's alleged threats to u.s. economic & national security interests viz., e.g., theft of intellectual prop, acquisition of farmlands, charges of spying (see S.D. gov's address before congress), floating a balloon across N.America, social media influence, & non-reciprocal trade/ econ. policies?? what is prof's def. of a "commerce war"?? these concerns go beyond that.
What’s missing from the discussion about TikTok is reciprocity. The free traders go on and on about how we shouldn’t do anything against China without realizing that the entire China model has been based on protectionism or even mercantilism.
@@fohponomalama5065 LOL! I have two pensions, 25 years at United Defense and 16 years at Honda Manufacturing and 401-K. Social security problems can be solved by people making over $168,000.00 per year still continue to pay their 6.2% SS tax. Problem solved!
@@fohponomalama5065 LOL! I have two pensions and a 401-K. 25 years at United Defense and 16 years at Honda Manufacturing. The permanent fix would be to stop the cut off or significantly raise the cut off on the Social Security portion of the FICA tax. As you probably know, those making above $168,000.00 per year pay no Social Security taxes on any amount above this number. I was able to take advantage of the cut off on Social Security several times but on those years I didn't qualify for any of the stimulus checks that most people received. "I take it you're not among those who qualified for and received the stimulus checks?"
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When will his goldsentimentindex’s i-Phone app become available?
Ask Hanke how many years it will take before he gets behind BTC.
stop scaring people ....get real
So, is the lowering V deflationary?
Once the long yields go down, gold (& silver) will go up too, then, right?
Will Your Assets Be Confiscated?
As a former cop, and a veteran of two urban riots, please allow me to share my thoughts. If those in "supposed" power attempt to seize assets that required a lifetime of hard work, blood, sweat, toil, time, tears and sacrifice to earn and save to benefit themselves and their families, then all semblance of a social contract with that government will be shattered with no turning back! If everything is taken, then what does a person have to lose? Believe me! I have witnessed the reality of uncontrolled urban riots decades ago, and the nightmare of that truly frightens me to the core! CBDCs must be stopped at all costs as well, as I genuinely fear that could mean the end not only of personal freedom, but the Republic, and quite possibly the end of modern civilization itself. What would be the incentive to dedicate yourself, work hard and sacrifice only to allow bureaucrats to control every aspect of your God-given life?
What are CBCDs?
listen to likes of judge Napalitano on internet and Greg Mannarino about finances issues. I have, certainly explained a lot more to me. The what, whenfores and how.
Thank you for your perspective sir ! And thank you for your service . I believe you are 110% correct .
@@chubbychubs4636 " CBDCs " are central bank digital currencies . CBCDs are nothing . The commenter said " CBDCs " not ' CBCDs .
@@virgilkane7369 Thanks for the information
“The most dangerous creation of any society is a man who has nothing to lose"
Or nothing to do… Btw., humans do not create. 😎
Possibly the man that worked his whole life for what he has only to have the government try and take it.
If a man with nothing lands on the moon, mars, or a desarted iland. The first thing he should do is form a goverment and central bank so they can print there way to take care of him! Lol governments create nothing they only take away from those who do to give to those who wont. man with nothing is just a man working hard to injoy life before a big goverment takes it away.
Humans absolutely do create. How do you think all this stuff got here that wasn't made by god?@@issenvan1050
@@issenvan1050 , Many are joining that rank.
Go read the book , The Grapes of Wrath. Everyone was losing their farms due to rising interest rates , demand collapsed , jobs were lost and prop. taxes increased. That is how asset seizure occurs.
of course the dust bowl had nothing to do with it.
@@marteanderson7963 no it doesn’t, that was a lesson from history that farmers have learned, they must take care of the land or they will not survive, now it is the government and the big ngo’s that cause the financial ruin of landowners, then they can legally buy up that land and restrict the natural production of our food, they are playing the long game, where we will be eating bugs and lab grown food, and growing our own food will be and actually is starting to be outlawed, look at the Amish farmer being persecuted for not having broken the law
Admit it, whether it was on purpose or not. We are being led off a cliff
Hyperinflation will wipe out all like a dust storm did back then.
I’m glad you brought this book up. I have read it three times. The first two times it was a story about our history. The third time, it was a futuristic novel! History repeats itself.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
You don't need an Oxford degree to understand that if you mindlessly give away money for ten years, encouraging people to go into debt, and then suddenly do the exact opposite, the country will go into disarray.
Well that is the plan, after all.
Powell & his posse don’t seem to think so. 😎
this in on purpose. The illuminates wants to destroy the whole world
And then David Lin does a commercial endorsing a credit card to put everybody further in debt.
Communist control over a population is impossible if they are affluent and not necessarily educated but intelligent with the ability to improvise and innovate. @@BigJohnson-g3j
If i had a dollar for every time prof Hanke said "money supply" i would not need to watch these videos 😅
Youd prolly need $2 per with all this inflation...
We still have massive inflation. Gasoline now is at $4 in my state. Highest ever. Food prices are going through the roof. My homeowner's insurance doubled. My car insurance doubled. My electric bill went up 30% +. I just got rid of my internet service because it went from 40 to 87.00.
And how are u posting here with your internet?
@@Superliegebeest0
I have no TV, no TV service, no internet (only at this time), and I use my phone for comments like this. A cell phone does just about anything and everything.
This professor has the same sense of humor when I was a teenager. It’s kind of endearing to watch a genuine soul so unaware of how the world around him has become calculated and corrupt.
Prof Michael Hudson said what he learned by going to university for an economics degree was that the professors didn't understand economics, what they were good at, was teaching the 'accepted theories' that were mostly wrong. He started out as a financial analyst for a major bank, I think it was Citibank.
In what way? He talks of the politicians foolish policies like their ban on TikTok.
@@L98fiero Michael Hudson , a Trotskyite, changed jobs as many times as he changed his underwear.
@@William1866 He's actually not a Trotskyite, and I seriously doubt you understand what that would mean anyway, but he's still far better than this clown. The only thing this guy has going for him is that he's telling you what you want to hear.
@@William1866 Do you even know what being a Trotskyite would mean? I guess you think mass democratization and having a united front against far-right parties would be a problem. In any event, check Hudson's history, he averaged about a decade in each position and each change was at least as good as the one he left, by comparison, Hanke's career is, well, he never really did _work,_ he was an advisor while he wrote books and supported the disastrous Reagan move to 'supply side economics', most of his positions were a couple of years at best. Between him an Laffer, they helped set up the conditions for the hollowing out of Western economic systems and the obscene income disparity we 'enjoy' today.
Remember what happened to the island of Cyprus when that country went bankrupt. Took money from their citizens accounts.
Also please ask the professor if he's aware of Shadow stats because his figures for inflation don't coincide with what's actually happening
long live professor
Amin.
He won’t last to see the end of inflation
You are talking about all of us having to work longer because the life expectancy keeps rising but the opposite is the case, life expectancy in the US has been going sideways or dropping for 10 years now.
People are working till they dropped dead in US
That’s the plan: Nobody makes it to retirement.
David seems rather impatient today. I know sometimes it seems like Hanke's brain is processing at the speed of a dial up modem, but he is pretty smart over all and correct about most things. Worth listening to and being patient for.
He is abjectly wrong regarding bitcoin.
@@Fearzero Actually he's not I don't think. I reckon one would be a fool to dismiss lightly, such a learned mind with so many decades of experience on the effects of fiat currencies. Just my opinion.
Measured answers take thought and time
@@Fearzero- Found the Crypto Bro. 😂
@@Fearzero Intelligence doesn't correlate with future quotient (understanding new technologies' role in the future). If he was very into technology he would be investing into startups and 3x'ing his money every year
the professor really busted your nuggits today David 🤣hahaha
If you see Hanke you in for a spanke.
Always does. Part of the shtick.
talk about fertility and wealth inequality. If both potential parents need to work to make ends meet this is a disincentive to burden oneself with chidren. The share of labour of the economy has declinde since the 1970ies. A common story in industrialized countries is: My father had a simple job , provided with his income for a family of 4 , build a house and got rid of the mortgage before his retirement.
Roubini speaks.
That's because they realized that future model is not sustainable, so they needed to hit the pedal to the metal with the brakes.
Great value. David. You and professor Hanke are adding real value to the community .
The sanctions imposed upon Japan by the US prior to the Japanese attacking Pearl Harbor worked just as the US government wanted them to work.
So the statement that sanctions never work is invalid since sanctions can be effective in provoking a response which can include war.
Sanctions are like antibiotics they should only be used in emergencies and they lose potency over time.
Sanctions are just tools for political gain if used correctly.
I have heard something to the effect that the bankers told Roosevelt that he needed to find a way into the war. Key event followed. Today, I believe the plan is to get a huge war going and drive investors into the safety of the US Dollar.
He’s just saying anything negative about republicans basically which is expected from a professor. He also mentioned “what’s wrong with decreasing population?” Which is a constant talking point lately at WEF among elites. Then he contradicted himself when David pressed him on the fact more population correlates with better life’s across the board
Steve Hanke might think inflation will be within the 2% target by the end of the year, but I don't! Now we have Neel Kashkari saying no rate cuts before year end, oil moving towards $100 a barrel by Summer and potentially $150 by year end natural gas flying up and Biden failing to refil the SPR as he said he was going to. Inflationary pressures in the US are far greater than deflationary so my money is on inflation rising quite sharply and not being anywhere close to 2% by year end.
I live in Europe, our natural gas bill rose 400% in 2 years, nobody talks about that
Do like Mr Henke, good guest,
David Lin is cementing his position for future finance, market path he wants to travel.
Summary: Fed saying it is "data dependent" is just an excuse to print money as long as the ensuing inflation is confined to housing inflation and stock inflation, rather than consumer+wage inflation. This is what happened in 2008-2018. As long as China would sell us goods and Saudi Arabia would sell us oil, accepting the US dollar as payment, although USD was continuously being devalued due to money-printing, the Fed was happy, the rich got richer (increasing house+stock prices, tax breaks paid for by printing money (rather than having the spending paid by taxing the rich)), and the poor got poorer (their labor and savings lost value every year, but the poor got by via inexpensive China consumer goods. In 2018-2020, Fed was starting to unprint money because people were starting to wake up to the reality of the inflation damage being done. Then the March 2020 Covid19 panic-printing of 5T USD happened because Fed wanted to protect the wealth of the wealthy. And absolutely horrific inflation occurred in housing, stocks AND consumables (food, energy, ....). And here we are. The country is a giant disaster and we are starting wars all over the place to cover up the problem and make other countries pay the price of our sins. Similar to 1918-1929, and one major cause of World War 2.
Great interview with professor Henke, thank you David!❤
Pushing back what age you can retire is so short sighted. Just because people are living longer doesn't mean they are able to keep working longer. People after 60 usually put out lower productivity so keeping them working because we can't guarantee they are housed and fed is a failure of the system.
Powell watching the economy like a person being strangled putting up a fight. “Its stronger than we thought..”
laughed so hard, well put
Great reset aka great taking. Great taking is also a documentary that people need to watch.
Very Good Interview David! Steve Henke is spot on ! He is the definition of common sense ….. people need to listen to him very closely ….. he says it all ….. people should listen to what is being described and hear the truth instead of hearing what they want to hear.
People need to wake up and realize the money they have is relative to the money supply, and they are losing 3-6% of its value every year.
Opt out and buy bitcoin....or get in the stock market.
@@Scorch428 The powers that be want you in crypto…. That is the next step to the Fed coin. I’ll stick with Gold and Silver. Bitcoin is just another form of fiat currency.
@@Al-nd9ep Crypto and Bitcoin are very different. Anyone whos studied them knows that...
Jobs are disappearing, Stelantis, Tyson, Quaker Oats. Pride trucking had 20k rigs going BK. 371 of the 99 cent stores are going out of business. This is just the last few weeks.
99 cents stores dependent on product closing a irregular supply vs walmart and kroger not a chance, quaker oats might as well forget it no one eats. pride trucking cant compete, tyson hires illegals, stelantis cost control less workers more automation cost cutting and deletion of companies that cannot compete under current the current enviroment
Yellow trucking also went under
David's got the hair back under control. 🤗
It's the stupid style of his hair. He probably is in love with his barber.
But now his stubble seems to be growing more instead! 😅
Always great to have Prof Hanke on!
Mr Henke keeps me thinking and laughing through the whole video!
Japan is a good example of how far and how long this can go on. So do you want to be eventually right or make money. If you want the former, listen to Hanke.
I understand the Professor places great weight on the money supply contraction / expansion which is supported with an enviable track record on inflation predictions. Surely the record level of debt which continues to be accrued in the US is also a very important consideration. As a regular listener, I'm almost thinking that if the Money Supply is in balance correctly the Professor is suggesting the economy will be Ok. Surely there is a limit to the amount of debt the US can bear regardless of M2. I would respectfully suggest that once the ability to service debt has been breached beyond available revenue from taxes or other forms of revenue, the economy is but a short distance from collapse regardless of M2.
the hankman, the linonator, the hankorama, the linmeister woo
Good interview, with 1 exception. Older people don't pay for the debt being accrued today, younger people do. If you're 80 and retired, you've got another 10 years above ground at best. If you're 40 and still working, you will quite literally be paying for this debt until the day you die in 40+ years. Deficit spending is a tax against the young.
65 Y.O. here .... This past two weeks I spent $7500 tax on a new vehicle, $9,000 on property taxes, and $25,000 income taxes. I also gave them $120 in tolls this week, $120 in gas taxes, $30 in motel taxes for one night....(thank goodness I brown bagged my lunch and had tap water to drink. ) Then there is the inflation tax the government has stolen from any fiat I had, when they ran deficits and doubled the money supply during 2020/21.
Lad, they are going to tax you until you get buried, and then tax you on that too.
This is the professor who alone destroyed a bunch of bit ponz scam pumpers/holders, I like him !
If you're that lazy to be that ignorant about bitcoin then you deserve to stay poor.
PS bitcoin is up 3.4 million x since 2009. Gold? 20x LOL!
@@FearzeroWill it go up another 1000% from here within the next year?
@@Fearzero this is the pump to attract the patsys, and close the dump on them
@@Fearzero You are excited about btc fluctuations as a speculator. But to solidify your profit you have to sell it. You can buy it again when btc prices drop. This is a great speculation, but it is not fulfilling the definition of money. Real money is stable.
Wow, love this guy. Down to earth.
David, i watch his video every 15 days, and he keeps talking the same points, recession is baked in the cake
Your explanations are clear and straight forward It's always a honor to have you here as a mentor, I appreciate you for the time being spent to educate us financially. Regardless of how bad it gets the economy, I still makeover $28K every single week. I truly value Herrick Malia, and her helpful guides
It's inspiring to hear how malias, mentorship and your dedication haveled to such remarkable financial
Making money is all about investing in the right way most investment failures and losses usually happen when you invest without a proper guide.
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I know Malia, she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives. The very first time we tried, we invested$2000 and after a week, we received$10,500, that really helped us a lot to pay off our bills
Please is there any way to reach their service, I work 3 jobs and have been trying to pay off my loan for a while now, please help me.
You guys are great! Love the two week idea
Davids hair is always perfect when Steve Hanke comes to show....
Inflation is coming down huh.. Nice call. Inflation went up from 3.2 to 3.5 percent. Boy, you really nailed that one...
I don't agree with Professor Hanke's analysis, because he's using published governmental data. He's assuming that current inflation is 3%. That doesn't reflect reality. Shadow stats has inflation at 10% to 12% inflation and the Federal Reserve has stated that the 2% targeted inflation may have to revised to 3%.
yes thats always his mistake and like a quintessential boomer he assumes the jews arent lying. many such cases.
That’s why I bought everything I would ever need 5 years ago. Now my personal inflation is 0.
The US has been bankrupt, I’d say $34 trillion in debt is a good indicator 😂
Huawei executive wasn’t in jail. She was under house arrest in Vancouver living in her very comfortable looking home. Canada has a mutual agreement with the US regarding persons under investigation. Canada paid a severe political price and monetary price to the two Michaels held hostage by China in response. The Michaels actually were in jail too.
Rules are to be followed by the masses not the government
Singapore ask retires to move out of their big apartment and get a small apartment close to their children and pay a stipend of half the cost of the apartment but must be a close to their children 1/4 mile max. No other social security is automatically given 7:25
And if they don’t have children…?
Hanke seems like a good guy but his use of government CPI makes all calculations worth a good cartoon. The 1980 calc before the CPI was corrupted to enable theft via inflation is the only accurate figure. Even the 1980 CPI underreports cpi to some degree. Scarce desirable assets put 100 year CPI at 7.5%.
One opinion is that gold will not be confiscated as it was in 1933 because there simply are not enough people holding it for the government to go through the trouble of confiscating it. The rough calculation is that under 2% of the worlds gold is privately held in the US. Back when it was confiscated nearly every citizen held gold
The rise in PM is because gold is going to the east and central bank have been stockpiling for years. Why . Confidence in the Petrodollar is waning!
They most know something and have a plan. Joe is spending $1 Trillion every 100 days.
What happens when our government can’t even pay the interest of the debt. More tax’s , inflation, CBDC, more control.
I agree. 401k's are much more easily confiscated, just press a button.
I would have loved private social security. The government steals some of my social security ( windfall) because I worked a job with a pension during my last 20 years. So unfair! This needs to change.
And, money that I put in and don’t use should go to my heirs, not back to government. It was my work/money/time that went into this…..my heirs should benefit. If there would have been an opt out option- I would have done that on a heartbeat and put that money into a Roth.
Private insurance doesn’t solve the big problem: money printing. The only solution for that is bitcoin.
Since the year 2000, the M2 money supply has increased by 500%
the stock market doesn't give a hoot
@@billwalton4571it will.
That’s about how much growth you would expect if it is compounding at a rate of 6% per year for 24 years.
@@alexk1843 how much deflation will we have after the bubble burst is the question? After the bubble burst in 1929, and then again in 2001 the stock market went down more than 83% both times. I suspect when it happens again, house prices will collapse more than 90%. Everything returns to the mean.
Why don't people who talk about Social Security ever talk about the number of people who are dieing (leaving the system) and when the numbers of dependents start to decline. The elder population should reach a tipping point where they for some period of time should have less stress on the system.
Really good interview. Thank you Professor Hanke.
Yes. Income taxes, personal taxes and destruction of the dollar through inflation..
As a physician, I almost ALWAYS have to “water down the wine” so patients can understand doctor-speak. Over the yrs, I think I’ve done a pretty good job. This guy, and other economists like him, seem to run in circles with their laborious explanations. Now I get the money velocity concept! Well, I’m being polite. Even the interviewer was squirming but then tried to clarify money velocity. Both did a poor job, imho. Yes, mathematically, it can be complex. All the more reason to know your script so well, you can forget it. Then explain the concept.
Great stuff fellas! Keep it coming. It's cool having a producer question in the Q&A, I wouldn't mind seeing that on the reg.
Side note: D-Leezy's hair game switch up's are baller af.
I would have loved not being forced to pay social security my entire life.
It's ending like every other Ponzi scheme.😊
Thank you professor you are GREAT
It's impossible for the US to go "bankrupt". It has a printing press and can service any debt denominated in dollars. Of course, that's not to say that the printing press can't trigger a destructive bout of inflation.
This is outstanding content. The Prof is fantastic! I've never studied economics but time and again I go to Prof Hanke here on utube, to fill that void and understand what's really going on in the economy. Occasionally we get real gems on what to do in "the markets" (This episode the 10yr bond). So my questions? 1/ Is there an online course I can do? ( John Hopkins Applied school of economics would be awesome!) to broaden my knowledge of the quantity theory of money? and 2/ What primary source book on the quantity theory of money, should I read? (as a lay person to economics). Thanks
Hanke is great. I also saw the glazing. Great and informative episode. He is one of your best guests.
We are living with the inevitable result of deindustrialization, finacializarion, rentierism, an astronomical debt to gdp ratio, and declining standards in education and culture with concomitant political dysfunction. That unfolding result is collapse.
Cost push inflation plus some demand pull from very high asset prices?
the government is running a deficit of a trillion dollars per 100 days. how do they expect inflation to go down with all that spending?
How will we pay our property taxes with hyperinflation?
Today, you need to install 1 app from the shop, 3 more apps, just to get reasonable prices that you got 15 years ago before having any app or phone.
If you travel to other area, you are just screwed by shops not knowing about these.
Thanks very much for explaining the relative stability of velocity. The Prof has said something instructive in each video in this series.
Awesome show ..Professor Steve Hanke is outstanding and a genius ...I am impressed with his logic and reasoning & excellent arguments :))) ❤❤❤😊😊😊❤❤❤❤
Why would any country adopt the dollar when the U.S. is sanction happy?
They have known since 2001 that there would be a population collapse due to aging and declining populations, see United Nations document about migration eong a solution to aging and declining populations. The is a political agenda of the UN Sustainable Development Goals around migration. Migration is supposed to help make our systems solvent. These migrants are the new labor pool. There a global conversation about raising the retirement age. This is why the boarder is open and the US Congress voted in the Office of the New Americans. Americans are being gaslighted.ven more concerning is that the US State Department under Kissenger put out the Kissenger Report, which discussed using agriculture and education to reduce fertility globally. This came out in the mid 1970s. About the same time "The Limitations of Growth" from the Club of Rome.
I think we will pay the "inflation tax" it is more stealth... just have to cut 1031 out of the law and tax home sales. Think about it. If you have an asset, when you sell it you are taxed on the gain, so during high inflation the gain on the sale of the inflated asset is taxed more.
DEPRESSION?????
What a great interview.
I like steve
Great interview. Keep it up! Thank you
the FED doesn;t want to tell the people that the money supply changes (bulk cash boost for the rich) are a sig factor in inflation. (esp in asset prices...aka: people's homes)
Thank you for this interview david. I actually like to listen to Dr hankey. He actually breaks things down in a way that I understand believe it or not.
Inflation isn't going down. Example Vichy night cream went from 75mm to 50mm & that is a 50% increase in cost. Plus there was a price increase on top of that. So 2 or 3% inflation is B.S.
This was a fantastic conversation! You guys are rockstars!
Great interview
If inflation was going down, gold would not be going up.
Please ask professor how is it that we keep hearing that money printing is out of control and at the same time the money supply is shrinking this sounds contradictory please clarify
I think it’s related to the programs in US. Like IRA initiative, debt forgiveness for student loans, welfare…. Etc so these initiatives pump $$$ into the economy, rather than the money thrown out of helicopters etc during covid…. Just my theory anyway
How can you say that inflation is on its way out when we are adding $1,000,000,000 to the national debt every 100 days?
Do you think we’ll just be able to pussyfoot around the inevitable? We might be able to kick the can down the road until you die but the young people in this country have no hope of a future in this economy.
Too many inflationary pressures for inflation to go away at current rates. Interest rates need to be above inflation rate to quash inflation.
Working towards sustainable (static) population size is not discussed enough. Of course this requires financial planning and an adequate social security savings plan throughout adult life. Green Peace chose not to push this policy position because it was considered too controversial. Govts currently and historically have failed us regarding international relations. The old British Whitehall system at least provided a core of govt competency. WEF has been quite damaging.
This was quite well articulated. Hanke was able to elucidate complex principles in a comprehensive manner. Very educational
1. Yes,... the "commercial war" with china is all the US's fault, The US, who made china a world class manufacturing base, is being unfair against china.
And the US is confiscating American assets,.. according to Hanke.
But when an American company does business in china, it has to be owned 51% by a chinese/CCP company.
That's not unfair,.. according to Hanke.
And sanctions against russia for attacking Ukraine is also unfair against russia.
America is just one bad country and should bow to if not be punished by china and russia who should be allowed to do whatever they want.
Btw,.. that's sarcasm,... and I despise the senile ole joe admin for destroying the country,.. but America is not the unfair one here.
2. And as I explained in other videos,.. his tired ole Quantity Theory of money doesn't work to determine inflation,.. or not in developed economies anyway.
And his taking the log of MV=PQ and differentiating to create an addition equation, didn't make anyone's "eyes roll back".
The Hanke "golden rule" hasn't worked.
And it's not due to the black magic of the "long and variable" lag.
The only place where inflation is strongly proportional to money supply and NOT supply and demand in general,... is in these 3rd world sheetholes where they print money out the wazoo and Hanke gets his anecdotal data.
This is fiscal dominance. They don't have a functioning bond market because interest rates would be astronomically high.
Otherwise, in normal economies,... inflation is a function of supply and demand of
commodities,
labor,
technology,,.. and on and on,.
and to a major degree
the supply and demand of money,.. which has 2 components,.. that effect it
1. monetary policy and
2. fiscal policy
which act much like real and imaginary numbers in trigonometry or a phasor diagram in electricity and magnetism or 2 or 3 dimensional vectors in mechanics,..
where fiscal policy, deficits spending, helicoptering checks is projected on a vertical axis and monetary policy where the Fed adjusts interest rates or does QE is projected on the horizontal axis.
The more projected on the vertical axis, the more it contributes directly to inflation.
Because monetary policy is used to provide or restrict reserves to the banking system,.. which uses those reserves to generate money through loans that are attached to an asset and an obligation to be repaid. Not necessarily inflationary.
Just see Japan.
Fiscal policy, these days,... involves direct payments to consumers with no asset attached to it or an obligation to pay it back. Extremely inflationary.
Japan doesn't do that.
We're not quite at the 3rd world sheethole stage yet,.. but we're getting there,
Hanke needs to retire.
EVERY STATE MUST REWRITE THE TERMS OF THEIR UCC AGREEMENT IN ORDER TO PROTECT THE PEOPLES' ASSETS FROM SEIZURE. ALSO, EVERY STATE NEEDS TO CREATE A STATE-SOVEREIGN BANK TO KEEP LOCAL MONEY, LOCAL, AND AWAY FROM THE EVIL SCHEMES OF THE CENTRAL BANKS. STOP THE UPFLOW/OUTFLOW OF STATE MONEY.
S.S. relies on more and more young people coming into the system, so it will ultimately be replaced by a "private social security system" he says. However, the entire economy relies on more and more young people coming into the economy, also. So what the hell, man.
I remember Janet Reno decided to take a mans family and friends away . This man did not like that one bit and brought out the worst of him. Taking assets away by force is very dangerous.
I paid in hundreds of thousands into retirement and my employer paid in hundreds of thousands! I should have been able to save that and would have retired fine!
Michael Howell & Joseph Wang would strongly disagree with his view, that the money supply is going down.
Ya I think in one of the previous videos hanke answers a question about total liquidity. Hanke disagrees. He says there is no evidence TGA outflows have worked that way historically. Like no example of an economy where fiscal policy was stronger than monetary policy. I think Howells point is that the modern economy is financialized. So debt just gets turned over. There is not much capital spending anymore. Therefore liquidity is all important - getting loans for your existing debt. And that’s why every financial issue in the past 20 years has been related to financing debt. Howell also disagrees the yield curve has inverted and says the inversion is artificial due to treasury t-bill funding.
STEVE!!!! is back.
Inflation, the creation of money, is obviously contracting but this is transitory (truly transitory). Once they are compelled to commence ‘printing’ to ‘save’ the system but is in reality is cover to insulate Wall Street speculators and private equity, who addictively made bad bets and continue to do so (Bitcoin and AI latest speculative craziness) big trouble is ahead. Wall Street undoubtedly in process of attempting to offload that risk to retail investors but if they are unable the Treasury through the FED will do so with another round of inflation tax (QE) against the public in order to bail Wall Street out yet again. My concern has always been increasing the money supply BEFORE reducing rates - an utterly idiotic COA.
They'll start with the billionaires and work their way down and from what I've seen many billionaires feel so guilty about their wealth they go along with it. For example, why are any billionaires or millionaires still living in California or New York? Why are there any still left living in the U.S.?
One of the best interviewers.
What are the prof's views on china's alleged threats to u.s. economic & national security interests viz., e.g., theft of intellectual prop, acquisition of farmlands, charges of spying (see S.D. gov's address before congress), floating a balloon across N.America, social media influence, & non-reciprocal trade/ econ. policies?? what is prof's def. of a "commerce war"?? these concerns go beyond that.
great interview!
What’s missing from the discussion about TikTok is reciprocity. The free traders go on and on about how we shouldn’t do anything against China without realizing that the entire China model has been based on protectionism or even mercantilism.
Social security is the easiest thing in the whole wide world to fix!!!!!! There is no reason for social security to be a problem.
I take it you’re not among the elderly who are living solely on their Social Security checks?
@@fohponomalama5065 LOL! I have two pensions, 25 years at United Defense and 16 years at Honda Manufacturing and 401-K. Social security problems can be solved by people making over $168,000.00 per year still continue to pay their 6.2% SS tax. Problem solved!
@@fohponomalama5065 LOL! I have two pensions and a 401-K. 25 years at United Defense and 16 years at Honda Manufacturing. The permanent fix would be to stop the cut off or significantly raise the cut off on the Social Security portion of the FICA tax. As you probably know, those making above $168,000.00 per year pay no Social Security taxes on any amount above this number. I was able to take advantage of the cut off on Social Security several times but on those years I didn't qualify for any of the stimulus checks that most people received. "I take it you're not among those who qualified for and received the stimulus checks?"
@@fohponomalama5065 Did you mute my comments?
So is he blaming that old people are living longer... Jimmy Carter still recieves his presidential pension.
Hope the 10 year yields go down. TMF will print .