The truth is the buffoons are every president for the last 100+ years that added to national debt, devaluing our currency, making us all poorer, that got us here. No doubt Biden is no Abraham Lincoln but he's basically at the helm of a ship that will mathematically sink, like Titanic, and your beholden to the math of national bankruptcy.
Here’s some math on that. The federal government goes insolvent at 13.8% interest rates. Go do the real CPI yourself and you get like 17.5% rate of increase in prices. Interest rates need to be higher than 17.5% to stop those increases. 17.5% > 13.8% = US government default.
@@AureliusProject The real interest rate hasn't been that high since Paul Volcker. However you will never get anything of the sort, the fed funds rate is not the interest rate and it has been zero and zirp policy for the duration.
People who can accept this as part of the WEF games can see where this is going. We have been sold out and betrayed by people who must never be allowed the freedom of walking our streets again. They are out to break the world as they build back better over bodies.
no kidding.. raise the rates for middle class, when the middle class is being decimated and being turned into homeless.. these guys and the polititions they work for need to be in prison for what they are doing to this country.
@@danratsnapnames Raise the real interest rate meaning our work has value, what you are implying I believe is raising the tax rate for. (They will never raise the real interest rate unless they got rid of derivatives)
The money Biden has sent to the Ukraine is one of the biggest reason we are in a recession also shutting down the pipeline to ....we Americans needs help or there will be a lot of homeless people before the election...
@@celinajason8594 I had a bad experience investing on my own until I met MRS EVIE RICHARD I got to change a couple of things and my kid now goes to a great school. You only have to stick with her strategies
@@TitleTownStacker That's my plan. I bought wood cook stove last year... come hell or high water, it's getting installed this summer. Along with an additional wood stove in the basement.
@@weirdshibainu did you forget that Trump collapsed the economy? He’ll go down in history as the only modern US President to actually *LOSE* jobs during his time in office! (As well as being the only President ever to be impeached twice) 🤣
The majority of the American media will not allow it. Anyone can type on RU-vid the following: "CNN staffer caught on tape admitting network tried to get Trump out of office".
The American economy is headed for something like Venezuela very soon under this current administration. The midterms are a chance to turn that around.
" very soon under this current administration" If you are being sincere, it didn't start here, isn't only the Dems and it wont end here. Both sides are guilty, they just play different shell games.
I do not always agree with Pete because he cuts to the chase and determines where the economy must ultimately go But listening to him here, I agree with what he is saying 100%.
When Obama was in office he shut down about 8, refineries supplying the east coast because the west coast was bitchin' that their prices were higher. This was expected since Obama said in a pre-election speech at a Michigan college that he saw 'nothing wrong with $7, per gallon fuel'. How anyone could get elected with that point of view is beyond me. It takes a lot of time and money, and crude availability, to bring them back online.
Elections in all western 'democracies' have been fixed for decades. Politicians do not serve the people. They have higher masters - WEF! By his own admission, Klaus Schwab said they have infiltrated the governments of the world.
Exactly what are “middle class entitlements”? I’m considered middle class and I live in a modest apartment (1000 sq ft) which I own, I drive a 2015 Civic, can’t afford to eat out, shop in Target, pay property tax, homeowners insurance, and got SLAMMED with income tax this year like never never before. So please, WHAT ARE MY ENTITLEMENTS?
If you actually listened he told you he would prefer that the government would cut spending. The entitlements are SSI, Medicaid, and Medicare. Whether you like it or not those are the biggest entitlements. But God forbid we actually stop having wars and cut the military budget.
Inflation begins when dollars are printed. Printed dollars are a data input to the CPI. The CPI print is the feeeback loop from printed dollars. Keynesians have been trying for decades to print dollars to create inflation-used as a signal to show the stimulus is working. Then before inflation gets entrenched, deflate by destroying printed dollars. The problem here is the Fed didn’t remove the dollars it printed to stimulate. So the higher prices are here to stay for a while. The dollar strength is transitory. You will see a weak dollar once those bonds the fed has on its balance sheet become difficult to sell as higher yielding assets will be more desirable to investors.
I lost everything in the last recession and learned from it. I made sure to live below my means and save every possible dollar. I also invested correctly and diversely instead of buying material things, restaurant meals, and expensive vacations. I've been waiting all these years for the next recession so I can capitalize on irresponsible debt. If this video is correct, it will be a very exciting investment shopping spree for me 🙂.
Consider the Economy as One Huge Engine that Produces the Life Styles that Humans live & Prosper & create a Healthy Financially secure future for their families. Corruption, Manipulation, creation of Unhealthy Political Policy & Diplomatic Environments is a recipe for Engine Failure. People are equally losing money in the financial market in the midst of all these.
@@marksway7292 Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire. Personally I hired ‘’ Eileen Ruth Sparks ’’ a financial advisor who I copy her trades and with a good 7% in ROI monthly.
@@stephaniestella213 I wish people can see this from this perspective sooner than later. things are really going south and everybody is acting cool. How can i reach this advisor?
Love Peter Schiff!! He’s honest and doesn’t BS or sugarcoat the reality of what’s truly going on in our economy right now. So many Americans are in survival mode, I’ve witnessed this first hand, less people are blowing their money on crap they don’t need compared to even a year ago. Back when I would walk out of a Costco, Target or the mall, and you would see so many carts full with electronic items, TV’s, appliances, gadgets etc. Not anymore.
research the invention secrecy act and watch the documentary unacknowledged, our US government is lying to us about our technology advancements, I promise.
Yea just wait till the strategic petroleum reserve runs out then oil prices are really gonna explode, I really think we could see 150-170 barrel in the next couple months and oil is part of everything so yea inflations not gonna stop.
Most amateur lose money because they are guided by emotions and hype. A good financial planner alleviates that. Everyone who thinks they can 'play' the market should realise that half of all profits made in the market are from dividend - not get rich quick deals. Very certain that this market will recover. the goal is to hopefully stay employed and to keep investing in the market which is exactly what I'm going to do. Find a way to get promoted while investing my money and staying as frugal as possible. My portfolio currently up to 20% from Q1 of 22. Buy the dip or wait...
@@joeljonathan3554 Great idea, exactly what I'm planning on doing now that the market is down, but I'm an amateur investor and I have no idea on stocks to buy or what assets that will yield highest potential. > you seem to be doing well yourself on this volatile market. Please how do you select stocks you invest in??.
I don't do that myself I have my funds very diversified, tho I did it using copy trading system from the advisor "Charlie Laura".. you might have seen her doing some stocks analysis in the news sometime. Met h at a start up funding seminar and since then I've come to know the benefits of her copytrading strategies an aspect of algo trading methods. Her stocks pick are good...
The key to intelligent is diversification.. A diversified portfolio minimise risk while in for a long term. It allows a certain amount of high-return on investment by offsetting possible risk through more stable alternatives.
Cash isn't king at all in this era and I think the best strategy is to start buying in slowly and then gradually increase the peace of buying as the price continues to drop. Don't catch the falling knife, lol. Long term investors know that's the market and economy will recover eventually, and investors should be positioned for such a rebound..
If you wanna be successful, you most take responsibility for your emotions and not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed
@@linearmemories yes they have to raise taxes on everybody if we want to pay for the government without causing inflation. Right now tax revenue is lower than the cost of government so they have to basically get into debt to cover the difference. So either raise taxes or cut the costs
@@sten260 We spend $800 billion a year on military. We have plenty of room to cut costs. If you added up every single other country’s military budget together, it would be 1,000 billion (1 trillion). So we, alone, only spend 20% less than the entire rest of the world combined.
@@linearmemories yeah but then they have to cut their own jobs which is unlikely. Once you create a government service you can't get rid of it. Doesn't matter if it's military related or whatever
I agree with everything Peter said except to raise taxes on the middle class. That's just more inflation on the middle class via taxes. We should rather cut government spending!!!
The Middle Class is getting taxed either way. Either through higher income taxes OR through the inflation tax. Either way, the middle class is getting screwed. Higher taxes on the middle class is better than the inflation tax imho. Remember the government has no money and get their money either through normal taxes, inflation taxes or government bonds. Middle class is where the money is as the rich pays 90% of all the taxes in this country. The parties dont want to raise taxes, no country wants our bonds so we are left with the inflation tax.
@@Jensth Peter wasn't wrong for 15 years, it's just that the United States has been the equivalent of a heroine addict for 15 years with outrageous money printing to keep it afloat and ridiculous spending policies like funding a war in Ukraine to assist the Nazis and Klaus Schwab's boy, Zelenskyy.
The absolute last thing we need to do is tax the middle class more. There isn't going to be a middle class left even as things are. The top 1% have PLENTY of money to invest.
They are aiming for socialism/communism. In those forms of government everyone is poor and dependent on the government except the elites. We are headed toward the same thing that happened in Venezuela.
We have been in recession since 2008 if you use the same CPI metric we had in 1980. By modifying CPI measurement it makes GDP appear larger. In real terms the US economy has been shrinking 3% a year since 2008.
A grown man with a 3 piece business suit and a ball cap, I will not take seriously... I love how she had to explain to the "specialist" that there are different levels of recession 🤣🤣
Peter hasn't been wrong all this time... Just really early! Many of us thought people would be smart enough to see it earlier and prepare... Instead people ignored us and many even called us crazy... Those people are the ones prolonging this and making it worse on themselves... It is like building a brick wall on an unsteady foundation! The foundation is giving out and they are at the top of a ladder with a bunch of bricks!
I read about a man in his 50s that started investing in stocks and real estate, then retired in 2years with over $6million, that right there is my utmost goal and I'd really appreciate clues and tips on how to reach this goal within 5years
@Dr Benny Thanks for sharing, just looked up the broker you mentioned on google and I'm super impressed with her credentials. I will be writing her an email shortly
Peter has been warning about inflation at least since 2013 and people have been mocking him for that. Now here we are with inflation hurting people’s lives.
I’m paying out 37% in taxes and insurance out of my paycheck and this guy is saying they need to tax me more?! How do people think that the government should raise taxes on my paycheck? If this happens I believe you will see a lot of bankruptcies.
He’s not saying that’s his desire; he’s saying those are the only viable options available to the government…Raise taxes or cut spending. Peter is a libertarian and abhors big government
Listen 02:48 "i would prefer spending cuts, and if they were not doing one of those 2 things" so he is explaining 2 ways to fight inflation, and he prefer spending cut.
Correct. This is the cost of the government that you voted for. The US government ran 2 trillion dollars in deficit last year. The Covid year was 3 trillion dollars deficit. Just to cover the government budget for the last 2 years, the Fed needed to print 5 trillion dollars. The deficit has to be eliminated in order to fix this. The two ways to achieve that would be 1) Cut spending until the tax revenue is higher than spending or 2) increase taxes until tax revenue is higher than spending. Pick your poison, you're going to hate both options. You will see massive bankrupcies and layoffs either way, because the recession is going to hit hard. So it doesn't even matter whether there is any attempt to control inflation, the layoffs and bankruptcies are coming because the economy is completely dysfunctional.
How about a 10 percent flat tax ??? Oh my can't do that.. that would be fair across the board.. drilling oil equals lowering inflation. Period. Never again raise the debt ceiling again except to adjust for inflation.
Dude he pays more taxes in one month than you ever will in your entire life what are you talking about smh. Not to mention he employees hundreds of people. How many people have you ever given a job to? Exactly. Turn off the CNN. If you're angry about taxes why don't you ask your government why don't give people more tax breaks they claim to help
You doofus. What we desperately need now is government spending cuts AND accountability, not tax hike. Tax hike without accountability is like pouring more water into a leaking bucket with many holes. The government, ESPECIALLY this corrupt, psychopathic government is the problem. I bet all my net worth that tax hike, thus increased unaccountable government spending WILL make the inflation worse. STARVE THE BEAST.
Yes that’s why they need there own boot out of congress swamp scum and vote republicans party. Vote for the greatest president ever. Trump will change everything with a number of EO’S . We will play that game too.
You're 100% correct. One of the ominous signs of recession is the downward co-movement in several unrelated sectors. At this point, those who say that this inflation is just a tRaNsIeNt eVeNt that won't lead to recession are either suckers and or psychopaths. I do hope their money is directly tied to what they say, though. I'd be gladly short everything they touch.
Because the FED and Amurikkka tried to delay the disaster by making the problem bigger and bigger and the bubble grew so much..that they cannot do anything now... just implementing The Great Reset! Just watch World War 3 and how the banks will confiscate all the money from accounts... only the one who have Gold, Silver, CASH will survive!
Don’t need more than a 3rd grade education to see we are going full steam ahead into another Great Depression. What are people going to do when their credit cards max out? I wonder what foreign country we are going to give borrowed money this week?
Close bases, cut the pentagon budget, cut nih, cut fda, increase taxes on the s&p 500 companies, multi-millionaires & billionaires. Leave the middle-class alone.
Oh please- Republicans spent the past 40 years dismissing concerns about the soaring costs of housing, education, food, insurance, etc. and now have the nerve to go on about inflation?
why is schiff fine with taxing the lower income people that have already been shafted 734 times but sounds really worried about taxing the rich? pls explain how hedge fund managers for example do anything at all for the economy or society at large.
