Why They Can't 'Print' Away the Debt Problem

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In this episode, we talk about the massive obligations that the federal government has that are usually swept under the rug when discussing how deficits should be spent. Even though the plan is to erode the debt burden using inflation, the reality is that expenses are piling up even faster.
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25 окт 2024

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Комментарии : 295

@JinKee 3 года назад

4:45 inflation is such a mean trick- if you double the money volume and increase everyone’s wages they feel happy because “they got a pay raise” but now their real buying power halves because it costs twice as much to buy groceries

@birdlady2725 3 года назад

Exactly, but most people dont get this concept.

@mosessupposes2571 3 года назад

Trade your currency for something of value, including groceries, as quickly as you can upon receipt.

@brianh1287 3 года назад

You also have to deal with the fact that doubling the money volume won't double EVERYONE's wages, it will be unbalanced. So now the rich get even richer (relative to the poor).

@BTrain-is8ch 3 года назад

@@brianh1287 Wages have little to do with why/how the rich are rich. Dramatic changes in the money supply do though... on paper at least.

@gregoryeverson741 3 года назад

Wrong, wages arent going up, wages will freeze again

@frankblangeard8865 3 года назад

When Social Security gets a cost of living increase the govt. also raises the cost of Medicare. And the cost of living increase is never as much as the actual inflation rate.

@billcat1840 3 года назад

My wife was excited about a SS raise... until I pointed out that Medicare would snatch most of it

@harryfire411 3 года назад

Noticed that for the last 2 years

@aorolecall 3 года назад

What a scam #EndTheFed

@TheAndrewLopezFinancePodcast 3 года назад

Yup, always found it a catch 22 as many of the governments expenses (SSI, welfare programes, etc) are adjusted to the CPI on a year over year basis. So while tax revenue may be up, their expenses will go up just as fast

@lewisrashe831 3 года назад

That’s why you understate inflation.

@dhvanitdesai1044 3 года назад

Which is why they understate it. More likely they'll fudge the numbers again like reagan

@jasongood5499 3 года назад

What Congress should do is fix Social Security and Medicare now, not by continue this Ponzi scheme further and have financial repression through inflation.

@TheCrimson7272 3 года назад

They fudge the numbers. They are allowed the change the bucket of goods they count for inflation, and they dont have to go back and adjust previous years. So they take the "meat" bucket which used to be beef, pork, and chicken, and remove beef and pork.because those assets inflated too Much. They have done that befote

@TDubya811 3 года назад

Forget food and housing price rising. Seniors can offset it against the plummeting costs of cloud computing.

@valeriegarcia8678 3 года назад

We should be careful on money useage,if you are not spending to earn back,then stop spending.

@tonyluke9018 3 года назад

Apparently my view on the solution is to venture into business .

@stevenpaker9756 3 года назад

@@tonyluke9018 True ! Even some rich men made it through investing there money in something doing and they made it.

@katiejames3712 3 года назад

I still don't know how Mr Jeff Clark got this knowledge,that he's sharing that is changing peoples life, Mr Jeff Clark is a genius and am happy with a daily profit of $100 since I started trading with him.

@alexdaniel6426 3 года назад

I was able to withdraw $14,500 in a week, there is more to the system than meets the eye sometimes

@ehsoule 3 года назад

They will manipulate the CPI in their favor, meanwhile those on a fixed income suffer.

@DrRock2009 3 года назад

Just like the ‘60’s and ‘70’s…

@jimrobcoyle 3 года назад

#MeToo

@austinbyrd4164 3 года назад

@@jimrobcoyle I don't think you're using that right 😆😆

@vex6559 3 года назад

Solution that has been used before. Change the inflation measure.

@ramiusstorm5664 3 года назад

The catch 22 inflation adjustments is the reason for the false narrative that inflation is not increasing the government wants to benefit financially but at the same time renege on its obligations, I've been on social security disability for 20yrs I can tell you from personal experience my income is in no way adjusted by actual inflation realities.

@rodriguezmontes8242 3 года назад

i heard something similar from my sis.

@gregoryeverson741 3 года назад

15$ is the new wage, but everything cost 2x

@CaseyBurnsInvesting 3 года назад

Joe, I don’t think you understand the plan here. Step 1. Print Money Step 2. ??? Step 3. Profit

@nichole2757 3 года назад

Hahaha underpants gnomes

@gregoryeverson741 3 года назад

dont forget insider trading via Congress

@charleskhenry 3 года назад

I think its best to think of our financial situation like a family unit. Basically, we have more debt than we can ever pay off, and we keep putting shit on the credit card.

@07wrxtr1 3 года назад

Yup! And if you’re a single dude that just wants to be free you get screwed the most

@l.antoinetteanderson3736 3 года назад

Thank you for this "down-to-earth " explanation of this (for sure) snake. For some reason, when you used the term "obligations", the kind-of "elephant in the room" came to mind: the bureaucracy and the "obligation " of paying the bureaucrats their continually inflated salaries.

@wan3416 3 года назад

‘No new taxes on households earning less than $400k’ -Proceeds to spend country into oblivion, inflating currency, decreasing buying power of the lower and middle classes.

@in4ser 3 года назад

If you inflate everyone's nominal earnings to $400K you can start taxing them again too. Never mind the fact that the real value is actually decreasing in relative terms.

@07wrxtr1 3 года назад

BINGO!!!!!!!! Eventually wages will rise but big daddy government will take it so disposable income increases disproportionately; a complete scam. They’re just playing the shell game at this point

@googooboyy 3 года назад

Bloody hell. This is frighteningly truthfully revelating and freakishly damning at the same time.

@bigpapi2658 3 года назад

Just like QE never went away, stimmie checks can’t stop either.

@urbugnmetoday3183 3 года назад

Right, it would be great if most people weren’t doing so poorly and could rip up these “stimulations”. They are just a money laundering scheme for the govt. Borrow money (taxpayer paid), give it out , get half or more back in income taxes (unconstitutional tax) taxpayers make payments on debt to the fed but still going in a hole…and politicians and their families get “rich”

@gregoryeverson741 3 года назад

@@urbugnmetoday3183 i didnt want those checks, also places were hiring during max plan.-demic

@brandonklosterman9880 3 года назад

Joe talks with his hands with the best of them.

@bananajoe9951 3 года назад

If everyone makes a million dollars a year, we'll all get taxed 42%.

@jpkm123g9 3 года назад

Wasn't AMT introduced in the 1970's at €70k and the threshold wasn't adjusted for years?

@brianvector 3 года назад

Dear Joe Brown; Your videos are well researched and expertly presented. You are a clear articulate speaker, and your content is pure truth and cuts through the government and media deception. Your channel is gaining popularity as more people crave the truth. Please keep going, keep researching and please continue to dispense the truth.

@heresyfinancial8705 3 года назад

Thanks for your feedback. ___For more guidance and daily investment tips. 🄸'🄼 🄰🅅🄰🄸🄻🄰🄱🄻🄴 🄾🄽 🅆🄷🄰🅃🅂🄰🄿🄿 + ❶ ❺ ❻ ❸ ❷ ❷ ⓿ ❹ ❸ ❷ ❽

@stuffhappens5681 3 года назад

The more “free” money they hand out the less it’s worth. They can double everyone’s handouts and it’ll feel good until all the prices catch up to the new money supply. Then all you’re stuck with is a bunch of devalued paper.

@3nien 3 года назад

Good job as usual. You talk much smarter than those branded PhDs

@SteelSculptor 3 года назад

Except.... wages don't go up. Unless you work for the gov.

@socomon69 3 года назад

And this is why uncle sugar fudges the CPI numbers.

@punker4Real 3 года назад

you mean cook the books??? they been cooking the books since 1971 Nixon the same year they starting making people obese gold and silver has been cooked for decades since the 1930s you know they sell massive amounts of paper gold/silver notes aka fools gold to keep the price of gold so cheap .. other wise it would be at 10 to 30 grand an oz by now

@Youtube304s 3 года назад

One of many.

@gregorydriscoll8806 3 года назад

thanks again for a thorough explanation

@devonlendsey9858 3 года назад

Yours is a Master Class in economics and finance. Great work!

@tomp4925 3 года назад

Could you do a video on the possibility of negative interest rates and the effect it would have? Seems to me it would be a convenient cure for the massive debt.

@07wrxtr1 3 года назад

George Gammon has a good one on how the CPI measurement changes ties into the 2018 tax cuts; So as wages eventually rise, the tax liability increases at a much much higher rate. It’s little known or understood but a compelling video

@heresyfinancial8705 3 года назад

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@guytech7310 3 года назад

Joe Brown: You missed one issue (not nitpicking you). Budget deficits are not fixed either. As wages go up so do the costs for Gov't employees as well as the products & services the gov't buys. The Debt really isn't fixed when you consider that the debt will continue to increase due to rising budget deficits. This the Red Queen effect (Alice In wonderland) in which the gov't has to spin its debt finances faster & faster just to stay in the same place, which results in hyper-inflation. I suspect there might be a market correct & inflation will cool this year. I think the money printed in 2020 will start to impact higher inflation around 2023, since it takes time for all those extra dollars to start to circulate globally.

@andrefecteau 3 года назад

yeah, I agree, also the government bastardizes the free market in most industries by overpaying for everything, or underpaying ie housing/mortgages....not to mention how much labor they soak up that produces no profit

@jjjackson5183 3 года назад

In CA, 1982, people in their 40s had house payments that were about a third of the cost of a one bedroom rental apartment. They had purchased the home prior to 1973. It worked for them. I seem to have been born out of sync with this...and therefore, so have my kids.

@gregoryeverson741 3 года назад

where i live its just as bad, you can buy a house for the price of renting, my city denies building permits for housing

@johnnyhoover2373 3 года назад

One of your best rants packed full of goodies I can challenge my elites NPR friends with.

@DT-mn9py 3 года назад

Another excellent job!

@jamesalias595 3 года назад

Not all retirement income has COLA's they have fixed income like annuities or even pensions without COLA's. So inflation wipes out retirement for many people. Inflation is terrible, while governments are terrified of deflation. While deflation is bad for governments it's not the big bad wolf for consumers, it is inflation that it the big bad wolf for consumers as well as savers.

@rednarok 3 года назад

this is why my father lived most of his life poor in money because all of it was in things that growwith inflation like land and houses. now he is a walking millionaire amongst everyone still looks like a poor x) the system of retirement is shit, you should never hold cash anywhere unless your going to spend it soon.

@ultrapurebloodstacker3066 3 года назад

watched this first hand with my father. inflation is always worst then they tell us.

@MrDpms2010 3 года назад

Wouldn't they make people's new wages disqualify them from certain social programs?

@kaymish6178 3 года назад

Yeah, the means testing is never raised in-line with the wage rises mandated by inflation.

@gregoryeverson741 3 года назад

nope, for many social programs, its based on hours worked and wage, they just need ONE check stub, easy to have a low check and be colored

@benjaminjsinclair 3 года назад

You explain things really well, thanks!

@heresyfinancial8705 3 года назад

Thanks for your feedback. __For more guidance and daily investment tips. 🄾🄽 🅦🅗🅐🅣🅢🅐🅟🅟 + ❶ ❺ ❻ ❸ ❷ ❷ ⓿ ❹ ❸ ❷ ❽

@Yabroproductions33 3 года назад

This is why the end of fight club was so epic

@double0cinco795 3 года назад

I just noticed the "end the fed" mug. Noice!

@miranda9691 3 года назад

Me too

@vipondiu 3 года назад

Hi Joe, I discovered your channel just hours ago and I'm in a binge. Just a suggestion; since the concepts you are explaining are complex in nature, I think a blackboard or graphical imagery of some kind would help a lot. I've been able to understand it, but it takes me some replaying.

@uncommonsense5876 3 года назад

The only reason they are pushing $15 min wage is to raise the overall wage base for increased social security taxes to prop up the predicted shortfalls. Higher min wage = more of the economy taxed for social security wages = more money flowing into social security lock box. 👍 thats the game. Inflation of the future obligations is an afterthought..

@07wrxtr1 3 года назад

Bingo!!! So cut your expenses: no kids, wifey, car payment, debt. Cook for yourself and rent a room. I went from needing $60k/yr to get by to now $20k/yr; Yet my disposable income has never been better, I’m working less hours, and can lice anywhere in the country as states play games I’m mobile 😎 Most men are beta simp providers and won’t understand that they trapped themselves to a lifestyle that enslaves them

@MsTyrie 3 года назад

Thanks for keeping us on our (mental) feet.

@trentonpaul598 3 года назад

Great choice in hi-fi speakers... grin

@michaelthearchangel4646 3 года назад

This country is so screwed

@thawdani 3 года назад

papa P will save us all, love the daily educational lecture

@GKJV_Bible 3 года назад

Social Security would have to go up as much as 64% to even be valiable to those who live on Social Security.

@punker4Real 3 года назад

it only works if you all ready own your own home and don't fall for the reverse mortgage scam

@GKJV_Bible 3 года назад

@@punker4Real True. but there are other people in different situations who depend on Social Security.

@punker4Real 3 года назад

@@GKJV_Bible my point was the children should be helping the parents....

@GKJV_Bible 3 года назад

@@punker4Real yeah, but it doesn't always work that way.

@jimbosavage 3 года назад

An income that adjusts based on the consumer price index is great as long as you don't need to buy food, energy, or assets.

@heresyfinancial8705 3 года назад

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@jeffotoole4509 3 года назад

You are the best!, I never thought of the cost of living adjustments. That's a real bitch.

@dougdelane3642 3 года назад

Okay but were not seeing any increase in wages...everything is just becoming more expensive

@mauricegiuliani3806 3 года назад

Great job!

@redpill-finance 3 года назад

Go Joe! Hit the nail on the head on this one!

@mhenrique4860 3 года назад

4:20 "you cant rely on printing forever" ohh yes you can! 09:30 it is knowable, can go forever...

@mw3516405 3 года назад

They shouldn't be taking ppls money if they can't give them retirement! As far as social security goes !

@4langley 3 года назад

Wait, What, isn't that Money-Laundering as any good Mafia would do?

@slowridefpv9668 3 года назад

Very good explanation of a complicated topic. Bottom line it’s impossible to inflate away your debt by borrowing money under the existing laws.

@MagikBased 3 года назад

Another thing to point out in your doubling example. Doubling the nominal amount also means you reach higher tax brackets faster. So although peoples situations won't change outside of the debt situations you mentioned, a larger percentage of their income will be going to pay off their new tax rates.

@HeresyFinancial 3 года назад

Great point

@joshsk8erx1 3 года назад

I have been told that the true rate of inflation is higher than the cpi by about 4 percent or more. That why some people call it "CP lie". Shadowstats.com has more information on that. If that's true the government can make a "profit" from the spread.

@dvo8861 3 года назад

We want $30/hr minimum wage!

@Supatrader 3 года назад

0:37 there is no debate at ANY point that there is inflation. in our monetary system its kind of like gravity. the debate is whether it is hyper or not

@bobmonson6432 3 года назад

Great explanation :) thankyou

@heresyfinancial8705 3 года назад

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@r987p 3 года назад

I figured last year that was the plan... just try telling our places of employment that.

@Corkfish1 3 года назад

Exactly what I've been saying. It might help people working at Burger King a little, but if I go to my employer and say " hey I need more money", they'll laugh.

@Daan030 3 года назад

I don't get it, if the national dept to GDP is 130%, how can the social security payments be 500-1000%? Where does this money come from then? Because after a year or so the GDP to dept ratio would also be 1000% then? Thanks in advance, love your stuff!

@adamm2716 3 года назад

no way ssi still exist when we get old

@miranda9691 3 года назад

Yep It Will be there, but Will It worth anything?

@StudioDesSages 3 года назад

Agreed. Better save your money! 😅😭

@jjjackson5183 3 года назад

But you'll pay in. I am 4 years away...looks like it is evaporating like a mirage....

@justanotheroglesby2847 3 года назад

Biggest ponsi scheme ever

@jons2447 3 года назад

Hello, Adam M; I have GOOD news everyone! If you aren't already old you will never be old. [Trust me, its overrated. (I'm 66.)] Ten years or less, this world ends & the next one begins. I think it is FIVE years or less. Another Carrington Event, civilization collapses, society collapses, the den. Or as this video infers, the economy blows up-because of deficit spending. (The commies have already taken over; and they want it to fail.) The "plandemic" almost killed the economy & may yet succeed. Then that 'vote' in Venice, Italy 'approved' a 'global tax'. One estimate puts the solar catastrophic disaster at 2025. In case you missed it, today's date is July 14, 2021; 4 years to go? So don't worry about SSI 'being there' for you. You should worry about being there for SSI.

@nayrB161 3 года назад

Social Security board of Trustees still have not released the annual trustees report which was due back in April. There is going to be bad news in there regarding exhaustion date due to COVID

@gaylewilliams4805 3 года назад

Our country's unfunded liabilities which include Social security, Medicare parts A,B, and D, federal workers benefits, veterans benefits, and publically held debt is approximately 150 trillion.

@michaelhensley8203 3 года назад

Please explain how the Central Bank creates money. Is it created in the words of Bernanke "a debit leger on the Fed Res Bank's balance sheet" and nothing more? Where in the private sector is the gov't debt held for the Fed to buy it back?

@kbbb4227 3 года назад

Thank You.

@Corkfish1 3 года назад

Catch 22 for the housing market too.

@brendon_a17 3 года назад

What does the FED do with the treasuries it purchases? And does the USA pay any of its debts without borrowing? If so, want portion (%)?

@shaungarbry88 3 года назад

Joe, I would argue there is a 3rd way for goverenments to increase revenues and that is create favorable conditions for people to start businesses and create jobs, which will in turn lead to more taxes collected. Granted, it is still taxation, but it's different than raising taxes or taking out more debt.

@heresyfinancial8705 3 года назад

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@Daan030 3 года назад

But since the Fed created all this money from thin air, doesn't it become easy for them to just write it off? Why not do that? Would love a video about this! You rock man.

@artyomdubrovsky 3 года назад

Beautifully explained. Now it is vitally important to teach American people what they will face in the future if necessary changes are not made in Congress. This video must be played to each member of Congress to reinforce needed structural changes.

@bryancoombesart 3 года назад

love this channel, financial fools like me can understand it

@heresyfinancial8705 3 года назад

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@kevinyaucheekin1319 3 года назад

American can for a time. For how long?

@SkyCharter 3 года назад

Thanks!

@lubb213 3 года назад

You should add background music to your videos. Great quality as always though!

@heresyfinancial8705 3 года назад

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@SpynCycle57 3 года назад

Since when did politicians ever worry about long term? If they did, the Social Security trust fund issue would have been addressed already. An example of inflation solving the debt problem, is buying a home. You purchase a $500,000 home with a $400,000 fixed rate mortgage that you can barely afford payments on. Inflation doubles the price on everything, including your income. Now the payments on the $400,000 mortgage are affordable. Of course your utilities, taxes, and other expenses are doubled, your savings are only worth half as much, but that house payment is affordable.

@nicholastoo858 3 года назад

BTC, inflation resistant?

@davidcarroll2908 3 года назад

So why does it filter the money through the banks, why not just print the money and pay off the national debt?

@youretheai7586 3 года назад

What if the government politely asked churches to pay tax?..

@normbograham3 3 года назад

yea....there is inflation. I just spent $40 for half a bag of groceries, for a week of self made lunches.

@kevinabt9921 3 года назад

SS obligations are pegged to life span. lower the life span, lower the obligations.

@johns8620 3 года назад

Funny how Covid targets that age demographic, helping most Western countries. Pure coincidence, I'm sure.

@adamc2320 3 года назад

I don't think the banks get cash from the fed in exchange for their treasuries, but instead get a reserve asset that they can neither lend out or spend on new treasuries but they can earn interest on from the fed.

@JinKee 3 года назад

can we create a new index of the real economy measured in gold? it would be interesting to see what commodities are running out, but our USD unit of account is giving false signals

@spencercunningham4327 3 года назад

So…as long as the USA is the world’s hegemon, can this cycle continue indefinitely, as is planned into the process?

@llamadirk5643 3 года назад

The only way out is sacrifice. There is no way a diverse population will feel obligated to each other enough to tolerate sacrifice. We are screwed.

@adamc2320 3 года назад

Also, I am very skeptical that banks would not be able to sniff out higher inflation and continue to hoard cash which is what they are doing and using that cash to buy treasuries back from the fed via RRP.

@aaronorr313 3 года назад

I'd love to talk to you about the Military Trust Fund.. which doesn't seem managed much differently compared to SSI however there's more "transparency" with the annual audit that's published. However, the lack of discussion or awareness of its existence worry's me.

@Ruby-4943 3 года назад

The debt limit suspension/extension is due end of this month. There will be a huge fight time with impending collapse of market. US economy has no real legs without cheap and borrowed money. Either expenses to have to go down or taxes have to go high but market is going down.

@JohnSmith-lz8bz 3 года назад

Negative real interest rates will also wipe out private sector debt as well as Gov debt.

@heresyfinancial8705 3 года назад

@anywhereroam9698 3 года назад

@heresy financial. I really enjoy your videos. What’s your thoughts on hydrogen fuel cell (FCEV) and hydrogen society/economy in general? Is it something you have looked into?

@spafon7799 3 года назад

At first I thought wow this really makes a lot of sense. But one thing now confuses me. Let us say the government/fed double the money supply, i.e. create 100% inflation. According to the logic here, the burden of government debt is reduced 50% due to the fact it's denominated in the old devalued dollars. But hasn't the debt actually doubled just like everything else, because new government debt is created dollar for dollar in parallel with each new dollar that is minted? At least, under our system. Now he points out that the Fed can just buy up the government debt, and then it is functionally debt held by the government, so the government is both the debtor and creditor, the government owes it to itself, and thus it is not a genuine government obligation. So it would seem to me that the concept is valid if we assume the Fed buys up all the new debt, so that the debt the government actually owes outside parties is the same number of dollars before and after the 100% inflation. Anyway, aside from that detail, the concept that government obligations, which are far greater than government debt, are doubled by this process, and thus are NOT ameliorated by money printing, makes a whole lot of sense, and that is something I had never thought of, and does seem to be a compelling argument that the government cannot inflate its way out of its financial obligations. They would have to do things like impose a price freeze on medical care, for example, so that there would be zero inflation in Medicare while the rest of the economy experienced 100% inflation.

@ReynSpoonerfan 3 года назад

Always thumbs up

@schumanhuman 3 года назад

The debt burden which is eroded via inflation is residual private debt.

@gregchaney2004 3 года назад

Great video, thanks.!! Greg Chaney in coastal N.C

@heresyfinancial8705 3 года назад

Thanks for your feedback. ___For more guidance and daily investment tips. 🄾🄽 🅦🅗🅐🅣🅢🅐🅟🅟 + ❶ ❺ ❻ ❸ ❷ ❷ ⓿ ❹ ❸ ❷ ❽

@robzombieshot 3 года назад

I must be super tired, i didn't catch anything let alone 22... lol

@dennisyoung5246 3 года назад

Do you think the government could do a financial system "reset" by canceling all debt & CANCELING all wealth(your savings is worth zero) to start a new monetary system? A new system could also be a world fiat currency or just a new US digital currency. I wonder if this would happen after the US looses it's world currency status? Just wondering.

@heresyfinancial8705 3 года назад

Thanks for your feedback. ___For more guidance and daily investment tips. 🄸'🄼 🄰🅅🄰🄸🄻🄰🄱🄻🄴 🄾🄽 🅦🅗🅐🅣🅢🅐🅟🅟 + ❶ ❺ ❻ ❸ ❷ ❷ ⓿ ❹ ❸ ❷ ❽

@misterbacon4933 3 года назад

The central government obligations is not on the books.

@kerryb2689 3 года назад

This will also erode away any savings and promote borrowing rather than saving.

@heresyfinancial8705 3 года назад

@joncarbone 3 года назад

None of it should have ever been allowed, going as far back as that bs 'New Deal.'

@tron103 3 года назад

How does this all end? how do I protect myself? Go off grid? Nomad capitalist?

@ZeroKOR1 3 года назад

Yes, borrow that money, go into the middle of nowhere and farm. Get off the system. I like crypto, because government can't print it.

@idahopotato5837 3 года назад

Unless war is declared the government should not be able to borrow money indiscriminately. Pay as you go. If you want to pay people to sit on their asses and crazy new projects. Raise taxes or sell bonds.