I can't believe we have such a knowledgeable person in Peter Schiff to explain all of this stuff to us free. Watching his show is the best deal anybody ever got in history.
Some wealthy people do give back. There are dozens of wealthy you tubers who create content just to educate others for free. But there's 1000 wealthy people on vacation in cancun for every one like Peter.
Buying and owning a house is a suckers game if you bought after 2020. It was only worth it with the anticipation of appreciation. Maybe buying new will get you a decade with little additional/phantom costs, but out side of that, you would be a fool to buy a house right now.
@@osu33089 IF you can buy a foreclose home IN A GOOD NEIGHBORHOOD that needs a lot of work AND HAVE THE MONEY,TIME AND KNOWLEDGE to fix it yourself. Then it is worth it. Of course "IF" is a big word.
Glad to see someone talking about this new government mortgage overhaul. This is peak government incompetency and a major step into communism, if we aren’t already in it.
It's not the government. It's the evil banks wanting this program. They want to own everything as the US Empire implodes like all others. The last one was Great Brittan. Now most of the people live in council homes. Run by the government but owned by the banks. At least the good creditors and taxpayers didn't have to fund so much of it. Like the US taxpayers will have to. It's going to happen fast. Brittan lost their Empire in two phases. WW1 and WW2. A total about 8 years and it was game over. The US may see it done quicker and perhaps without war on their soil.
You have no idea if you think that USA is Communist. Stop talking bullshit because you have your freedom and your society is not a command economy ! Neither are your people controlled !
weve taken major steps to communis for a while... such as locking down the world over a cough virus and forcing a batch of rushed and untested chemicals on the population... and not to mention the insurr* coup of november
"... because politicians don't run out of dumb ideas, You know there's just an unlimited supply of this nonsense so it constantly gives me material to discuss...." Excellent as always, Mr. Schiff!
Always ask, "Which policy decisions will produce the greatest power and wealth for the decision makers and their cronies?" *The goal of all governments and all banking systems is to privatize profits and socialize losses. Always has been, always will be.*
@Silvettip1958, A home is never yours! Ever! Even if you pay off your home, you are still renting from the government. It is called property taxes. (Rent) Plus the expenses never end on your home. Everything needs replaced in your home constantly.
I've been telling everyone I know to cash out their 401k's and even though people agree with every single point I make about how their retirement will be stolen through a bail in or hyperinflation, not a single person dared to cash out. It makes zero sense to me.
You are now officially protected your wealth. Doesn't matter what happens to stock market or the dollar. Just hide it in a good place and prepare to defend your home from intruders.
I love how he’s sticking it to Cathie, she’s earned it. It makes no sense to buy Tesla rn just like Peter said the time to buy that stock and make money on it has passed for now. I don’t know if Cathie is unethical or in denial or both. After watching about three of her videos I got the sense that she was not a straight shooter so I tune her out now
I don't see the point in "live" shows if you are just going to stand there and do a monologue. Get some kind of system in place where people can vote up and down questions or call in and speak. Remember the schiff radio days when people could call in? That was great.
Hi Peter, love your take on government and housing🤣🤣 I mean it's not like the world hasn't seen government backed mortgages before right? Here in Australia the Victorian government have introduced a new housing grant: "The Victorian Homebuyer Fund could be the key to owning your home sooner. If you have a 5% deposit, the Victorian Government will contribute up to 25% of the purchase price, in exchange for an equivalent share in the property, which can reduce your mortgage." Would love to hear you talk on that I should mention to, Victoria the state I'm in has currently over 100 billion in debt, our Premier secretly went to China for 4 days suspected of asking them for money and all construction on our railway from the city to the airport has stop due to a blown budget....
Oh by the way, since posting this comment a major builder in Victoria went bust and the government is returning everyone's deposits. 15 million dollars worth
As usual….great dissection of current financial situation. Concerning risk assets…BitCoin, Tech stocks etc…Your observation that what worked during the GFC won’t work in a high inflation environment is so obviously true. Both of us….being 60, or older, in my case….have a perspective of having seen the 70s and what happened to gold in the late 70s….the last time we had high inflation.
The way you describe economic repercussions of policies is so extremely straight forward & simple. I wish you'd run for president or something. Thank you for doing what you're doing to get the word out about these idiots running this beautiful country into the ground
@@LC-hv1qn Thank you. Cheers EDIT: I’d seen enough recently to determine for myself that most that are in that movement are not about civilized freedom and liberty. They are mostly about hate… and violence!
He's not lying when he says homes are money pits. I spent $15k for a new roof. $12.5k for a new A/C and $27k for solar here in California because energy is expensive. I should have just rented.
Peope will argue (you’ll get it back when you sell the house someday). Problem is that you have to live somewhere so unless you have a larger home “downsizing” when you retire isn’t feasible so the $$ is locked up until you die. But at least if you ever need $$ for a retirement home or dementia facility you have a house to sell to pay for it.
Renting is worst. Rents gone up nearly double from a few years ago. At least with home ownership, you have equity and a piece of mind you always have a place to live and not face homelessness if you lose your income and the landlord jack up the rent a lot again.
@@daebak7370 he means politicians are ruining things and they know it. They're not trying to do the right thing, they just want to buy votes and kick the can down the road.
LLPA for loan level pricing is the add on the agencies like Fannie Mae charge for the loan delivery. This is built into the rate/points you are charged. The big change in 2023 was people with 740 and higher credit scores are paying high rates through these LLPAs. The add on for the lower credit scores decreased plus LLPA add on were increased across the board on on all credit scores for refinances, especially cash out refinances. I have not heard any new outlet pointing out the increased rates on all refinances. The benefits, as some may call it, is that these LLPA are waived or removed for people with income that is at or below 100% of the area medium income or it the area is deemed a special focus area (known as duty to serve). This is giving lower credit score borrowers lower rate than they should be getting according to credit scores. So people refinancing or whose with high credit scores are subsidizing lower income borrowers.
The idea your rate is underwritten by your history of good credit and are less of a risk and are being discriminated against at the personal level to be forced to pay more so others with lower credit scores and are a higher risk are systemically gaining is discrimination…when i refinance when rates get below 5% i plan on suing the bank and the feds for fraud. Because they underwrote me on a personal level then discriminated against me for being lesser credit risk…
Tesla and other EV manufacturers didn't take into account that Toyota ha made a hydrogen fuel cell car and has also made an internal combustion engine that runs off hydrogen. Toyota knew for a long time that battery cats aren't the least not practical.
Same, I laughed hard when he was saying Cathie wood doesn't get Tesla and that Tesla is lowering prices because of competition, even saying their expenses were rising was pricesless, when Tesla have shown how expenses continue to go down.
They actually do this high ratio nonsense in Canada, but require an insurance policy if you use it. I haven’t done the math yet because I don’t need a mortgage…but i suspect the lower rate on a high ratio justifies the insurance premium upfront if you own it for at least a few years. I suppose you have to try and factor in what gains you could make on the rest of the down payment cash that you don’t have to use.
My home isn't my biggest asset. My biggest asset is the actual land my home sits on. At least that is how the County assessor sees it as it breaks down Property vs Dwelling. If buying, go big Lot /small home, and not big home /small lot.
They keep using low unemployment as justification but they ignore tge labor force participation rate. People are retiring, quitting, and getting fired faster then employers need to lay off so a lot of people leaving the workforce aren't starting EI claims. They are leaving the workforce permenantly and young people aren't filling in the vacancies.
Can you imagine the death glares Cathie Wood would be shooting at Pete if they ever met. I imagine PS would be smirking and CW might actually spontaneously combust on the spot.
read this morning , sounds like a repeat of 2008 . loans to folks that can't afford them . been here done that, and interest rates at 7% its a incentive for a crash .
Although I will admit thes best video of all three I have watched is the one about how you lost your bank and how despite being innocent all these terrible things kept happening to you. I was in amazement how anyone could have such bad luck owning a bank. It’s a good thing you are very rich because you were very unlucky with that bank you lost. Amazing.
Realtors & mtg lenders would tell buyers not to finance anything before their home closing. Now it might benefit them to lower the FICO🤣. Bass ackwards
This is exactly is what’s happening with my mothers house she’s selling. USDA loan. Buyers, no money down and the seller is paying the closing. At an interest rate at 5.75%. This is the same thing as my friends wanting handicap from me in golf. I practice they don’t, why shld they when they can just take strokes fr me to use against me on the 19th hole to settle up?
@13:00, Peter, this is Jim Cramer. I say Kathy Wood is wrong. I say Tesla shares will be $10,000 / share, soon. I’m bullish on Tesla. I’m buying all the shares I can get my hands on.
Bizarro is right. It's sheerly painful how prudence is punished. And the ironic consequence is that charitable compassion for the less prosperous is replaced by "eff 'em, let them starve". Like Peter says, the number one outcome of government interference in free markets and charity and voluntary exchange is devastating unintended consequences. But lest we waste out breath informing voters that they're cutting their own throat, the latest candidate is offering free lunches!
Import and Export market has been curtailed since October of last year, there are mandatory days off, most ports are closed on either Mondays or on Fridays for months on end, think that you want products in the store, or export parts or supply chain items trading from US to Asia? It's being cut just worse than during the Lockdowns of the economy. You can't function a economy as Peter said from the regional Fed stating manufacturing is forced into recession and closures unless they get a buyout, or a too big to fail, you will just go jobless in the Federal economy.
We're going to go through a recession and depression and the central banks, etc. Are going to be like: we're not in a recession, we're not in a depression. And then after the fact be like "hey guys, turns out we're in a "deep recession"
It is said that past performance is not indicative of future performance, except history repeats itself. Someone or a network, I forgot who, did a piece on this. No politician during the great depression acknowledged that there was a depression. They perused many periodicals of back then and could not find one politician saying the words out loud. After the tide had turned, they did say so. I do believe the 2008 crisis had the same issue. History is repeating itself.
I think that's the intent. These people arent that stupid unless Biden thinks it'll last long enough to buy votes for him to be reelected . End game is to bring down the US. All of Congress and the federal government are in on it.
Being happy with what you have and being handy has saved my family so much since we bought our first house years ago. I have friends who don't like the look of their granite countertops or cabinets and spend 10s of thousands to send perfectly fine stuff to the dump to change the color. It's just crazy
