A Coming Recession Worse Than 2008? - Once In A Lifetime Chance To Build Wealth | Codie Sanchez

Thank you to today’s sponsors:
Do you know your own numbers for your business? Download NetSuite’s ultimate KPI checklist right now at bit.ly/ImpactNetsuite
Aura: Free 2 week trial at Link: bit.ly/AuraIT
How do you BEAT the hidden theft of MONEY PRINTING?
In today’s episode of Impact Theory, Codie Sanchez is here to discuss how we can escape the hidden theft of money printing so we’re not robbed of the value of our money and BUILD wealth instead of losing it to inflation!
Codie Sanchez is known for her contrarian investment strategies and dedication to empowering marginalized communities. She boasts a varied career that includes a decade spent on Wall Street and in private equity, where she managed substantial investments.
Codie advocates for critical thinking about money and wealth building through unconventional business buying strategies, an example being her work with Contrarian Capital, where she oversees a portfolio of "boring" businesses generating millions in revenue.
We touch on:
- Cultural shifts and the rise of business ownership
- Challenges and rewards of small business ownership
- Bankruptcy as a safety net
- Encouraging risk-taking while young
- Societal aversion to hard work
- (Lack of) Government efficiency and private sector incentives
- The problem with for-profit prison systems
- The value of learning from a diversity of sources
- The importance of all-weather investment strategies
- Developing strategies for recession-resistant businesses
- Potential investment opportunities during economic downturns
- The significance of trying new things to discover personal identity
- The difficulty of finding truth and the impact of narrative on decision-making
- The role of questioning and contrarian thinking in success
- Impact of inflation on money as an "invisible tax"
- The need for non-inflatable ways to save money
- Hard work and its relation to learning and purpose
Codie's wisdom on the value of inner peace and the joy found in difficulty, coupled with her candid reflections on life's hardest challenges, will leave you both enthralled and enlightened. So buckle up for a journey filled with contrarian ideas, personal philosophies, and actionable insights that just might change the way you look at the world.
Chapter Markers:
[0:00] Systemic issues & political motivation
[27:39] Gen Z aren’t risk takers
[43:09] Effective work & high-value bets
[56:06] Bankruptcy for a fresh start
[1:19:31] Effective actions to achieve goals
[1:59:37] Joy in the journey
[2:13:44] Unfair advantages in big corps
[2:38:01] Preparing for the worst
Powerful Insights From Codie Sanchez:
"The federal government has turned into a transfer service…they used to provide services to all of us, to citizens. And now if you actually look at the amount of money and where they spend it, they spend most of their money transferring money from those who have made it to those who say that they need it."
"If you do not listen to channels that are doom and gloom about what might come, then when it comes, one, you won't recognize it, two, you won't act on it, and three, you will actually lose from it because somebody else will take advantage of your panic."
"People are…terrified of failing. And my point is, the US actually has an incredible system called bankruptcy, which a lot of countries don't have. This is an ability for you to wipe the slate if a business doesn't work out for you."
"What a tragedy to let your spark go out, spark by irreplaceable spark, in the shadows of the could be's, the what ifs, the maybes."
"And so in business, everything you're doing, every decision you make, is really just a determination of, should I do this or this, and which one of those is going to make me more money or more opportunity or more options or better decision making something."
Follow Codie Sanchez:
Website: www.codiesanchez.com/
Instagram: / codiesanchez
X: / codie_sanchez
Follow Me, Tom Bilyeu:
Website: impacttheoryuniversity.com/
X: / tombilyeu
Instagram: / tombilyeu
If you want to dive deeper into my content, search through every episode, find specific topics I've covered, and ask me questions. Go to my Dexa page: dexa.ai/tombilyeu
Themes: Mindset, Finance, World Affairs, Health & Productivity, Future & Tech, Simulation Theory & Physics, Dating & Relationships

[@TomBilyeu]

WARNING: I will never ask for your contact info in the comments section, that is someone impersonating me!

[@freedom4all581]

I wish people would wake up! Every single aspect of the current government is nothing what the founding fathers wished for this nation. There are only criminal trash running things

[@biosah]

I listen and learn a lot from you and your guests. Most of them are of the view that the government is the enemy. When are you going to invite someone who can give you the working man's point of view.

[@henrythegreatamerican8136]

Weakening of state power and social protections, huge wealth inequality, and a power shift from our government to corporations is why there is so much turmoil in the USA

[@DannyVega-DanielHall4Freedom]

TomBilyeu4Freedom OurName4Freedom WS Yours, DanielHall4Freedom

[@Rocko1II]

Student loan debt keeps people from taking risks. Nome Chomsky talks about this and manufacturing consent. Now his point of view is more about politics but he says basically that the rulers of the system saw the upheaval of the 60s and '70s and the student movements and said to themselves if we indebt them to the system then they won't try to change it. I think this translates to everything though. If you have a ton of student debt the likelihood of you quitting your job and starting a business is very low.

[@gorillacannible3198]

I’m sorry I can’t! I’ve graduated college, worked in several industries, started several businesses - failed at several; went to a couple different trade schools. Got married, raised kids, got divorced and remained. And over the past 5 years I’ve come to terms with the reality I’ll probably never be rich. So I found a fulfilling job with pay that suites my life style and made a concentrated effort to develop hobbies and strengthen my relationships with my family and friends. The end result is that I finally, FINALLY! I Reached a place of content happiness. Only to be told by a couple income elites that if I’m not a self employed millionaire it’s because I’m lazy and don’t meet the “minimum intelligence” and thus I’m poor? How about we acknowledge that the system is broken if the common citizen is failing.

[@bluezone17]

100%! Not everyone wants to be the king rat in the rat race!

[@Coyotelover100]

Whoa....well said!

[@coalepps8936]

You said it very well..

[@blaquopaque]

Baby boomers are retiring or on the verge to, so how do we deal with such recession-influenced market conditions? Typically my $2m worth of holdings go up 8% then lose 20% right after and the cycle continues, I’m confused and truly sick of the system

[@Curbalnk]

Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions

[@greekbarrios]

The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.

[@MKpixelfan]

@@kansasmile most financial advisors make below 100k to manage your accounts, those who are worth more, expect you to have millions or billions so look out who you let to manage your account because most don't, they set it up auto, collect fees which compound over time and can't even match S&P500. Stop giving away your $, invest in stocks Buffett invests in, or vanguard funds and lower your fees people.

[@Chitoalf88]

Brent Johnson, who I think is an or the authority on de-dollarization, already said that the dollar will be replaced eventually. The question really is when and more importantly by what? The Fed & US & other governments will do what they need to do to kick the can down the road. The challenges is how should one invest, & what one’s current situation is? I am very interested in what or where should an average Joe should do just so they can get by, & not really get rich.

[@Shultz4334]

Thank you for sharing, I must say, Jennifer appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.

[@seabreezedesigns.]

Poverty is trickling up!

[@minfilipino]

Usually poor people like to buy unnecessary shit and have to keep an image up despite being broke af.

[@handyrams4822]

"The greatest trick the devil ever pulled was convincing the world he doesn't exist." Love it

[@adamson760]

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” ― Henry Ford

[@Theo-dj7vs]

parrots puke

[@Savage_Thinker]

This is the way

[@kipincharge2833]

WE LIVE IN A SYSTEM OF 100% THEFT;police state USA

[@kipincharge2833]

police state usa🖕

[@colinmcintyre1769]

Very true 👍

[@kk-xj5oz]

The government doesn't just transfer money from the rich to the poor, it also transfers money from working class to the rich in paying interest.

[@JustAnotherJarhead]

it actually never transfers from rich to poor, it does transfer from lower middle class to the dirt poor, though. Rich don't "actually" pay taxes.

[@anthonyb.GiftitMobileApp]

Absolutely! That national debt is only about 20% owed to other countries. Most of the debt counter parties are to US citizens who are the 1% who buy bonds.

[@sanbluesiq2506]

Right I remember Reagan saying the trickle down will come to everyone! What a lie!

[@VINNYMOR]

Ok that's untrue. I am regarded as rich by most metrics and I pay more in taxes than 98% of the populace. Also, monetary policy is designed to transfer wealth from the poor to the rich when increases in the money supply fail to increase the velocity of money (activity in the real economy) and thus result in asset inflation enjoyed by the rich. @@JustAnotherJarhead

[@coltonweir4209]

They also transfer money from America to foreign nations.

[@RobbieGrz]

Codie Sanchez is easily the smartest business mind of our time, people just don’t know it yet

[@vibehighest]

just because harvard did the study, doesnt mean its legit as we have all seen

[@leithsilva5607]

Totally with you on that.

[@lawlessjewel6629]

Facts

[@MsCGarnica]

All pleasurized!

[@kimberlymathes]

Working through the night..does motherhood count? 😂 I would love to hear her advice for mothers. We’re experiencing the fact that households who need 2 incomes, yet society is not structured around children’s school schedules. Aftercare is difficult to find in my area, a big city. What can mothers do build their wealth in their 30’s? I feel like those of us who have a family are limited because we’re caught between doing what we feel is right for our kids, yet trying to financially do what is best.

[@annoulaz8284]

This! Thank you!

[@kristinwornum7126]

Real shit

[@Livepure999]

Thats a such a real dilemma. I’m not a mother so I’m not familiar with the limitations to this idea but from what I have seen from successful families with a stay at home Mom, creativity is so important and the opportunity to build a business from home. I have seen a Mom do a birthday party design/planning. Another example of creating children’s clothing out of their garage. Sorry if that’s not helpful I just figured I should share it with you.

[@annaneal5301]

This! ⬆️ I'm okay with working through the night, but when 1 of the 3 babies are waking up every 3 hours, I don't get much done.... then having a baby every 2 years, this lack of sleep has been happening for about 6 years....lol Not complaining because I love my babies more than life and this is the route of life that I have chosen. Although I am very work driven and working hard to run my business, yet juggling both, I'm treading and exhausted. I keep telling myself if I can make it through the next year, the sleep may get easier and I can dig deeper and harder on work again. It's hard as a mom! And honestly, even myself, nobody knows how a mom has to work unless you've then turned into a mom. We can still work hard and have grit, but we are working a 2nd job 24/7 as well. Anyways, I agree with a lot that CS mentions and I love her. Mom's, we can still do this. ❤

[@iSOBigD]

I don't think it counts because the question wasn't when you "had to" but did it because you wanted to. If you don't feed your kid, they die. You're not doing it as a hobby or passion, it's a need. You'd be doing it whether you enjoyed it or not, just like anyone else. That's not really monetizable business, it's just what all parents have done since the dawn of time. Now if you're so "in the zone" working on a concept or idea that 8+ hours go by and you're still working on it purely because you belive in it and are passionate about it, that's something you can turn into a business. That's a skill you can use on other projects which can lead to revenue. Many artists and business owners do this. The average person rarely, if ever, does it.

[@threecrows4178]

My parents and I have worked hard our whole lives and paid into SSI. Corporations and inflation have destroyed our pensions . We have earned it!!!!

[@caterinaborg3441]

Not inflation...GREED based on the warped capitalist society America has created with no safety nets to protect its citizens. Americans continue to shoot themselves in the foot.

[@johndoe1.196]

The government creates inflation to fund welfare and warfare. They take your money, by inflation and give it to others. It's wealth redistribution, Comrade.

[@johndoe1.196]

What, you thought they weren't going to redistribute *your* wealth as well?

[@Adler_GGG]

No one deserves anything, place was built on slave labor. After that it was pushed even further by cheap Mexican slave labor, meanwhile all the people in position, aka Americans that weren't braindead reaped the benefit, and now want to live the rest of their life rich, having done nothing.

[@stopper90004]

You do deserve it, and so do we all. But if you've spent the last 20+ years voting for either one the two big parties, you were an irresponsible fool to think that their incessant hand-outs and expensive wars were not going to come from money printing (inflation) and the well known theft from our Soc security funds. The only party preaching fiscal discipline is the libertarian party.

[@morrisjarz]

A couple of people just chasing more and more money. Why? To what end? How much money do you need? Enough to pass down to who? Your kids and grandkids? So they can squander it away? Unless it's like the movie 2012 and you're in some exclusive club that gets you a VIP ticket to a life raft, I don't understand the goal. Becoming super rich doesn't impress anyone but you. 100 years from now, we'll all be a complete nothing.

[@modfus]

That is very wise ......and utterly "Un-American"

[@stevea8183]

Stay broke my friend!!

[@johnoliver4199]

I hike and do extreme expeditions sailing. I don’t poop in a bag. It’s biodegradable. Use a leaf or snow for TP and all is good. I have a love hate relationship with Ted Turner.( Jane Fonda probably)

[@mr.makeit4037]

They are blinded by their wealth and hide behind it. This needs to change.

[@hfortenberry]

Social security is NOT transference. We paid for that. Remove that from your graph and then we can talk. I used to teach graduate biostatistics. I know when someone is trying to hide information. At least define what is included in each of the four categories.

[@johndoe1.196]

SS is a ponzi scheme.

[@micmccond7]

It's arguable whether the amount payed in is worth what gets payed out when factoring changing rates of inflation. Future generations are paying for it too and it's unlikely to survive the size of the boomer generation. So imagine paying for something you know you're never going to get...simply because of demographics. Our population is shrinking...not growing. It's supposed to be a net...as in addition to other retirement income streams...not the sole source of retirement income.

[@hfortenberry]

@@micmccond7 Yes, I’m well aware. I’m one of those who won’t be getting much from SS. I paid into the system from age 16 - 45 but many of those years were lower income so didn’t qualify as counting towards the 30 year minimum. Good thing I wasn’t relying on that and have my own side businesses now because it would have not been there for me, very scary. Fortunately eleven years ago, at 45, I switched over to a job with better retirement so that pension will be there in addition to my 2 businesses. Regardless, my initial comment remains true about her graph.

[@Zannathin]

@@hfortenberrywhat job did you switch to? Teaching? I’m considering a similar change.

[@hfortenberry]

@@Zannathin I moved into Information Technology (my other passion) working for a county that uses the same pension as our teachers.

[@fleshpistol]

Working the extra hour and being that person that goes the extra distance matters none nowadays. I have done this my entire life and worked myself to the bone and have gotten nowhere. Its pointless to work hard and its all about who you know. For anyone young out there, don't work hard and just network. Working hard doesn't matter unless you know the right people. Knowing the right people is way more important then working hard. Now I gotta find the right people to be around that can harness my hard work because the people i been around in corporate America just abused me and and over worked me to the point of exhaustion. When I bring it up they just threaten you. Work life is super dumb and I its hard to listen to rich people talk about working lol. These two worked hella hard, I get that but most the time its luck as there are a ton of people just like these two and myself in this awesome world. The only difference in "success" or bag size is luck and not working hard. She says that we just lost 150% buying power and then says that houses dropped 30% so people should be buying. Ha, cuz normies can afford this. I really cant wait for the economy to absolutely nuke. There are so many people that need to get wrecked to have a wake up call. I hope it gets so bad that people start to hate the government and rich peoples mind sets change. This podcast is depressing.

[@shanejones578]

I agree. These people are so detached…

[@princessleyla]

Thank you for sharing this as I have come to the same conclusion. As an introvert type I am not able to get over it and learned this lesson too late. This episode got me in a bad mood.

[@claytonmatt4334]

100%, I've seen so many fake, stupid people get ahead in this world while being an honest hard working person just gets you screwed over if you are an introvert and not willing to screw over others. I like the guest she has a lot of good ideas if a little bit devoid of details which suggests she got ahead through religious connections. The host is a faux-intellectual that probably never did an honest day's work in his life like construction or farming etc. If the lights go out these folks will have a hard fall.

[@buddyrye9190]

You are the dystopian people that they refer to on this content. You have envy as your worst enemy. YOU are your worst problem. Sorry, not sorry.

[@princessleyla]

@@buddyrye9190 for a second there I thought you were going to say something enlightening by your use of such a word. I am disappointed and had high expectations.

[@tybowesformerlygoat-x7760]

It's lovely to hear wealthy people saying we can all be rich with a little bit better hustle. "Just get up at 6am and sell something everyday.." So we all just need to sell things to people? When we're all hot, hustling sales people, who we going to sell stuff to? Only a wealthy person would be blind to the fact that isn't a solution for the majority. I'm surprised by the degree of privilege blindness here.

[@dig1272]

They know that not everybody's going to do it. Also, neither of them were wealthy to start with. But I understand your line of thinking. That's why I'm replying, but you're really not making logical sense. Of course they know that not every human being on the planet is going to start a business, buy a business etc. There's nothing wrong with them giving insights for those of us who want to take that route.

[@johnatchason6506]

The thing wrong with their advise is that sometimes it boils down to "be the crab in the bucket who drowns the other crabs to escape". Some of us are a little too comfortable with that reality.

[@PowerofRock24]

Just stop buying your daily lattes from Starbucks. I know that's a meme, but I'm serious. Say $8 for a Starbucks every day for one business week over a year. That comes up to $2080. Take that $2080 and put it in a Vanguard fund instead. Over 25 years, that $2080 will be worth over $20k. Now keep this up for a 10 years and also apply this principle to all the other worthless junk you buy in a year. Frugal living is how millionaires are made.

[@modfus]

It always surprises me how the self-made (new rich) are always the most dispassionate and ignorant about the lives and fears of the underclass.

[@SC-pe9ir]

I don't think anyone ever thought Jeff Bezos was hot

[@eeyorestud]

Tom, raising the retirement age is the not the only way to cut expenses. And SS is an expense that should never be cut.

[@chrisjenkins9978]

Government salaries should be cut as they extremely over paid. I had a girlfriend who became a teacher and at the graduation ceremony, the parking lot looked like a Mercedes Benz dealership. Corruption and theft at its finest.

[@TheHOCKEYDUDE33]

We all paid into social security...it is not an expense!

[@pavementstoneguy]

Cut social security. You Boomers don't deserve it.

[@AVC.1111]

SS is a Ponzi scheme. Look up Milton Friedman. Explains it perfectly. His book Free to Choose, is also great. The government used up the original “deposits/thefts” and the young are paying for the elderly (and it’s transferring the young, working, lower class money to the upper class elderly)… his example: a man graduates or drops out of high school goes immediately to work and makes middle to low wages and pays into SS from age 16/18 meanwhile the liberal, upper class woman is sent to college by her family doesn’t work until mid to late twenties 22/28 (so doesn’t pay in until then) and because of degree (assuming not a useless one and not counting she may or may not have any extraneous loans bailed out) makes more and would live longer while the lower class usually have a harder time living longer so the young dropout doesn’t even get to use his “pay-in/theft” while the liberal woman will be using his. What would be moral would be to keep more of what one makes rather than having it stolen as taxes and spend/save it however an individual (rather than a faceless collective/AOC/Pelosi) decides. Freedom and choice. Moral. SS is an unethical system exemplifying the moral decay of a culture.

[@TheNickMeredith]

Social security is simply a ponzi scheme, that will be inflated away with everything else.

[@Baptized-sc4fy]

I worked as a carpenter for 10 years then opened my company about 13 years ago. You do much better on your own after about 5 years of building up your business. I opened a gym 4 years ago and just closed it because the construction is much more profitable and worth my time. I guess my point is investing in yourself and learning then once you understand business you can succeed in anything if you understand the market.

[@user-wj4mk2qb8i]

❤

[@leithsilva5607]

Might be your experience but not covering all bases.

[@emeraldrhyme5634]

I love to hear what Codie Sanchez has to say. I learn a lot from her, even if I disagree with her. Sometimes I'm right, but when I'm not, I learn something.

[@Heywood.Jablome]

Yeah, raise retirement age to 100. That'll motivate the serfs!

[@Dilly_Gally]

Lol

[@NatiaMaisuradze-ey5iq]

History shows that financial markets follow repetitive patterns. In his book "Grand Time", Artur Grandi offers a clear-cut strategy for stabilizing investments and identifies opportunities for investment, including in cryptocurrencies.

[@realmtraveler]

Don’t we pay into social security? We should get what we paid in when we retire.

[@dlandrews1]

No they just make it ridiculously hard for those who have earned it to live on it and cap extra earnings so they can give it to who they want!!

[@pamspencer5733]

Robert Reich says there is plenty of money. Corporate Socialism,fake inflation prices. Covid was a smash grab! Robber Barrons destroy every country, eventually & so it goes,over& over😴

[@TrainwreckAt]

SS is grocery money at retirement at this point. And I mean bread and milk, thats it.

[@jeffreyd508]

Hard work is so overrated. I go through life trying to get the most benefit with the least effort, and it is worked out just fine. I was a truck driver and I retired at 33. I'm now 51

[@CatfishGumbo23]

Smart man

[@BigBigb]

they got rid of a lot of the profit sharing in the 80s and 90s and that’s one of the reasons why we are in a non-motivational situation at this point in time

[@leithsilva5607]

Yes Marketing and accounts took over. HR used to have a bigger voice. They diversified, re-engineered and fucked their employees. Outsourced , created contracts and then sacked with a day's notice. Here in Aussie they created "workplace agreements", dispersing all the progress Unions had fought for previously on behalf of those who laboured. Shareholders became the new kids on the block, distorting the true value of products , manipulated by the bigger traders. So this notion of a "free market" regulated by supply and demand is an ancient and deeply corrupted mythology. The system is collapsing. Blaming the social safety net so pathetic in the USA seems to be an articulate version of scapegoating. "Look in the mirror might be a more honest strategy. Many of these economic theories that are considered "truth" were developed by colonisers, slave traders and corporate raiders, or isolated intellectuals living within a virtual reality. There are nuances of course. Subtleties but that would require a dissertation. I have traversed many "stratospheres" of society economically in various cultures, most significantly Australia, USA, Holland and England. Hard not to "smell a rat" when the division between the wealthy and those who survive on minimal working class wages or heaven forbid (sarcasm here) social security widens exponentially. I simply laugh at the first world dilemma of having money to invest. A huge proportion of people in our world are struggling to get food. Lets have some guests on the show who are representing "the Common people". Let's hear more about co-operative economies as other revolutionary ideas.

[@sadtosuccess]

No one gets to tell me what success looks like, I have to define that for myself, if I don't do that I'll achieve 'success' and be miserable. I'm not a good leader, I've no desire to be a leader. I am a good manager and I am much happier and skilled at finding a leader I believe in and managing the niff for them. We both win. Of course I need to have a clear understand my values to ensure I am working for or with someone I believe in.

[@lj9524]

I transferred” my money as I paid into Social Security and am entitled to get it back. Period.

[@ShizzleMcBizzle]

Yeah. Well. Good luck.

[@merodobson]

Technology has been destroying Community.

[@jaystone49]

shrink the government, save money

[@rmiller9444]

I was surprised that both of them thought gold was $1000 per ounce.

[@jonathanmichaelsmith9012]

🤣🤣🤣

[@aw6674]

Wtf 😂

[@AlexofCharmCity]

Makes you think about all the other things they say and believe doesn't it?

[@MrNotoa]

Also weird that he thought gold was $35 in the 1980’s when it was probably about 10x that

[@Snakebloke]

You already nailed it. They have no desire to drop spending, because most voters are - frankly - idiots. They will vote for whomever promises the most, so, we're just headed for an inevitable disaster.

[@user-wj4mk2qb8i]

❤

[@maryhumphreys2931]

Yes they vote in whoever will give them free money

[@Shawnwick11]

Please point me in the direction of this mythical free money that anyone can have

[@JayClem-cf5vj]

Over half of our national debt is directly attributable to tax cuts for the wealthiest Americans and to fund unnecessary wars (The ME wars cost $ 10 Trillion alone). On top of that, we spend more on defense than THE NEXT TEN NATIONS COMBINED. Meanwhile defense contractors make greater profits than almost any sector and all paid for by taxpayers.

[@JayClem-cf5vj]

The problem is not who you vote for. The problem is that we live in an oligarchy / plutocracy.

[@uaeio]

I love watching your channel, you do not stop asking questions smart people ❤, thanks.

[@JustAnotherJarhead]

look up The Diary of a CEO for the best interview questions, hands down.

[@tracyreutlinger5387]

Something they could be done is to ban stock buy backs. If company’s weren’t buying back their own stock, which BTW elevates the stock price and allows the CEO’s etc to exercise their options and make scads of money, the company could use that capital to expand their business, improve their business thereby making more money, hiring more people and generally being more productive. That would big a HUGE deal.

[@SmartestDumbGuy]

That would mean that you would have to ban dilution of stocks as well. Which means they couldn't raise capital... which defeats the whole point of the stock market.

[@GoldKingsMan]

@@SmartestDumbGuyNo one likes their shares diluted. Like that ‘Social Network’ movie.

[@chromatix5342]

What you have to realize is instead of worrying about the big companies buying shares at a lower rate, focus on buying at that lower rate yourself. People complain about what others do to make more money instead of focusing on what they can do to do the same. Opportunity is available to us all! Most people just rather complain than take advantage themselves. 🤦🏻‍♂️

[@The_Laid_Off_Life]

If company A says we are buying stocks back. Buy company A and the value should increase.......

[@snyd3rcg]

Money is a metric but not everyone's metric. You generate your own metrics of your life, but you never get to make a metric for another. That's the beauty behind Life, Liberty and the Pursuit of Happiness. IMHO

[@jonathankent6877]

I think it's an excellent point she makes about not identifying with an idea/ideology/opinion. If we can avoid that it can allow for better debate and progress

[@vortexgaming70000]

strange to hear rich people talk...bottom is so low. middle income has been decimated. their is no safety for those at bottom. as no one can keep up as it is. system is rigged.

[@businessvideocoach4363]

Do you get the point? They are not rich because they have the air in their name. But because they found a way to use their mind! There is no money measurement in tha. Start thinking differently, money follows that.

[@calebdavis719]

yeah, they briefly mentioned how money printing, quantitative easing & CPI is rigged; it's rigged to transfer money away from the employed, you're getting paid less and less as the years go on, it's hitting a breaking point, for sure, when most of us cannot afford to be housed with just our single family

[@johndoe1.196]

Try imitating successful people instead of slandering them. You'll have a much better life.

[@vortexgaming70000]

@@johndoe1.196 i did not slander them. nor did i say Tom or his guest are rigging the system or part of it. they are rich. fact. they work hard to earn that level of wealth. fact. but those at bottom of the food chain have infinitely harder time getting into a better position. also i watched the video listen to all issues they raised. based of that i made assertion. which is accurate imo that middle class will be destroyed. those at bottom no why to hedge themselves from coming financial waves. u cant compare their financial level to most people. fact their is very little for common man to do to protect themselves in this market.

[@vortexgaming70000]

@@businessvideocoach4363 strange to see people get offended on behalf of people they have never met. i know they made their wealth themselves. its still a exception its not the the rule. most people current financial state debts etc. makes it impossible for themselves to hedge or protect themselves. ergo why i vented, middle class is being ruined and those at bottom have very little options. the game is rigged; Tom and his guest actually explained so many of the factors showing how wrong it all is runs. i never slandered them. gave mi opinion. what is ur point > ?

[@paullyle7913]

How about an episode on how we can construct society to work for everyone. Not everyone in a society can be rich because.... Inflation Maybe businesses should put employees first over shareholders for example. Working yourself to death is not a good answer

[@shanejones578]

Straight up doesn’t work. All luck.

[@stopper90004]

You (and your fellow effort, pain and risk-avoidant collectivist comrades) are guaranteed to be a failure. You want other humans to sacrifice their efforts/income for your benefit. You are preaching parasitism.

[@hardleecure]

i'd guess the only way that works is in a post scarcity economy. Communism and socialism is an abject failure. Sadly, capitalism is the best thing we have for now

[@PoeticAce1]

Look into the Zeitgeist Movement and The Venus Project .

[@cr4yv3n]

@@hardleecure capitalism can be REGULATED. Limit bonuses, limit dividends, 100% tax over 10 million $ There ARE solutions ! If they don't like it fuck off to China see how that turns out, Bezos/Musk/Peter Thiel

[@MrGarrylyons]

I'm taken aback that Tom didn't address critical issues. The wealthy wield disproportionate power and manage to pay fewer taxes, while many are trapped in low-wage jobs, with diminishing opportunities. The decline of local businesses, which bolster local economies through better wages and taxes, is alarming. Without substantial investment in infrastructure and education, we're on a path to deterioration, stifling innovation and quality employment. Ignoring this leads to a cycle of poverty, crime, and more crime. If we look to where the money for these things are.... $42 trillion of new wealth was created globally, of which the richest 1% captured $26 trillion, or 63%, while the remaining $16 trillion, or 37%, was distributed among the rest of the world. The argument that taxing the rich discourages wealth aspiration is simplistic and overlooks the worsening conditions for many. This discussion seemed disconnected from these pressing realities.

[@MsPurplecl0uds]

Actually if ur poor u have a better shot than even middle class with free college education. Just don’t squander it with a useless degree get into stem plain and simple.

[@MsPurplecl0uds]

And yes it would discourage entirely. Cuba is a great example. Doctors would rather leave the country and what do u know Cuba is still a shit hole.

[@raptorfalconry]

So glad someone else picked up on this! And of course she doesn’t want to tax the wealthy, because that’s her and her buddies. Someone that is just fighting to survive pays more taxes than she does. How is that not stupid; using her word. She has a bad case of entitlement and can view the world from a different perspective than most. So if you don’t have the wealthy paying their share of taxes, how is that helping the economy? Trickle down economics? That’s already been proven to be utter nonsense. Corporate profits is and remains with corporate greed. I had respect for her until this interview. That’s going to come to an end today. Basically she’s saying people “individuals” shouldn’t get a chance because they have already proven to be useless to society and do not warrant the investment. But yet we (tax payers) bail out huge corporations using our money without our consent all the time. And that’s because they have mismanaged their money so using her logic…that should not be ok either but she doesn’t bring that up.

[@michellecardenas6072]

Get a career you can do online.

[@JoseDiaz-lv7wg]

I’m watching you show for the first time today and you have a lot of great 👍🏾 information and knowledge love your channel thank you 🙏

[@redbelt1000]

INFLATION NEVER CAME DOWN. You have to measure in a cumulative manner we have been lied to in that regard

[@AlAmin-uc8py]

Right.

[@Desert_Ov_Thee_Real]

Exactly.

[@jackc6299]

I think they changed the way they measure inflation. Now its based on CPI, or consumer price index, rather than good old-fashion inflation.

[@williamkreth]

She literally talks about that. Listen to the episode

[@EdanBarak]

Inflation is to prices what acceleration is to speed. Both prices and speed will never come down if inflation/acceleration is not negative (ie deflation)

[@adamson760]

"It matters not what puppet is placed upon the throne, he who controls the money supply, controls the Empire"

[@sjs928]

“ WHEN ALL ELSE FAILS , they take you to war … “. Gerald Celente

[@pubwvj]

“Businesses don’t wheel back their prices” … yes, and employees do not take pay cuts and electric companies don’t cut their prices and governments don’t reduce taxes and… almost nothing goes down.

[@jvz28az]

Businesses can and do cut back their prices if they can. A service based company can reduce their prices by accepting less. A product based company or service may need to substitute for a different component. I’m just saying that it is possible and done.

[@launchpad310]

People don't feel they spend more. People KNOW they spend more.

[@cupbowlspoonforkknif]

Yes, they just don't fully understand why. If they did, there would be riots in the streets.

[@MatthewEGolden]

The real hard truth about money. There are no safe havens.

[@shrunkensimon]

Oh there are safe havens. They're called British offshore jurisdictions. But you need the connections within the City in order be part of that game. That's where they keep all of theirs, or rather, all of the global productivity gains from the past several decades that they could have reinvested to make everyone's lives better but instead decided to intentionally keep us down.

[@gregrodgers107]

If there are no save havens where the super rich hiding their wealth under their mattress?

[@21MillClub]

Not true. Study #Bitcoin 🍊

[@hurls_da_aussie8659]

@@shrunkensimonsome nefarious stuff if true

[@eelamtamil7621]

Physical gold is a safe heaven now.

[@JayClem-cf5vj]

And... for my entire life, the government has not established a living wage standard to end the need for welfare, subsidized housing, Medicaid, food stamps, and a handful of other subsidies. All of that is because the businesses won't pay workers their worth unless they are forced to. $ 7.25 /hour minimum wage? Come on... it's corporate welfare to pad their bottom line at the expense of taxpayers.

[@alejandromatiasesquivel7541]

I never comment on KZbin but i think i've never heard 2 People more full of themselves as these two. Greetings from argentina, come here sometime to see if anyone can get by just working hard when everything is crashing down. Sorry for my bad english , its not my first language. Anyway ... i think i made as much sense as you two. Wich is almost none.

[@micmccond7]

Your country is broke...no thanks

[@nohandletobehad]

Crybaby 🎉🎉🎉

[@maxphilly]

​@@nohandletobehadhe's wrong in his assessment but you are beyond wrong in calling someone a crybaby when you yourself would not survive a fraction of what they do in conditions bound by outside forces and not of organic consequences.

[@maxphilly]

They never said it's just by working hard. They said that working hard is an important aspect of being successful. I've been to Argentina and there's many things I like about the country but the mentality is definitely not one of them. People live extremely mediocre lives with confrontational attitudes which is very unnecessary. People in Argentina are just as ignorant and closed minded as people in America but in different ways.

[@charlielawson2001]

Wtf are any of you talking about 😂

[@Anthony-ds6vl]

Man I was really hopeful with this one... then she had to go and put ALL the blame on the government helping citizens while promoting that they need to spend more money instead on the war machine 🤦🏽‍♂️... I get we could do better on how the government spends. But being pro war above helping its citizens, is a problem.

[@calebdavis719]

up to 13 mins focusing on government spending into social security, there's also a wealth transfer into inefficient companies, banks etc

[@henrythegreatamerican8136]

You are watching two wealthy people have a discussion. What else did you expect? Everything that takes money out of their pocket is deemed inefficient. They just blindly assume all wealthy people are doing efficient things with the money and therefore "redistributing" anything away from those wealthy people is bad.

[@calebdavis719]

@@henrythegreatamerican8136 I mean, I like a lot of what they're talking about. CPI is kind of rigged, inflation is a wealth transfer away from workers, quantitative easing is also a wealth transfer, the main path out of it is to start a business, or something. But, to hyper fixate on THE POORS SUCK for as long as they did, felt pretty disingenuous

[@seangrey5847]

Codie’s right and wrong about somethings just like every other human it’s the I know best delivery that can be challenging to listen to at times.

[@hfortenberry]

Well said

[@kevinbrook7033]

Wasn't going to bother with this as I find all these doom recession podcasts clickbaity, but this isn't what the podcast about at all. It's actually the best podcast episode I've listened to in a while, both participants in top form for this. Felt I learnt a ton, and even a couple paradigm shifting moments. Great stuff!

[@jarvanwildrift8056]

Problem is not that state is providing a lot of free money and wellfare to the people though in the USA. Its just that ur system is ineffective: An array of usage and billing requirements from multiple payers makes it necessary to hire costly administrative help for billing and reimbursements. Americans pay almost four times as much for pharmaceutical drugs as citizens of other developed countries. Hospitals, doctors, and nurses all charge more in the U.S. than in other countries, with hospital costs increasing much faster than professional salaries. Prices for drugs and healthcare are partially controlled by governments in other countries, but in the U.S. prices depend on market forces.

[@MH-53E]

Dont know yet but it seems like im getting ready to spend three hours hearing 98% of things I already know to be true. Not done yet tho...

[@girohead]

Agreed, but it's nice to get confirmation in this current era of make-believe and ignorance.

[@VINNYMOR]

It helps to have in the background while preparing my taxes

[@MH-53E]

Oh yes, there is great value in all of Tom's guests. I enjoy listening and asking myself these questions. Quite humbling some days...

[@hfortenberry]

She’s pretty good at twisting things around to make you think what she wants.

[@MsCGarnica]

She's a natural at that. She's a liberal!

[@vldgrs]

Manipulation - one of the dark personalty traits. But it works for this world.

[@Clevelandsteamer324]

She is a woman

[@aidananthony2059]

@@MsCGarnicaRepublicans and Dems are no different 🥱

[@hfortenberry]

@@MsCGarnica 😂 I’m pretty sure she’s not a liberal.

[@gbou93]

I love Codie Sanchez! She's very smart, business savy and put together well for a world that's hard and a woman that doesn't give a damn about that. She's independent and has great work ethics.

[@pictureworksdenver]

The purpose of taxing the rich isn't to finance government expenditures or wealth redistribution. Taxing the rich is a strategy to prevent the corrosive accretion of extreme wealth in the hands of a tiny subset of the population. Since functional democracy is incompatible with extreme wealth inequality, imposing high taxation on the rich could safeguard democracy from the corrosive influence of wealth and the drift towards plutocracy.

[@DougBohm]

Invest in yourself first

[@GoldKingsMan]

Ya

[@Andthenbam]

I'm a bad investment. The earnings-to-debt ratio is awful.

[@michellecardenas6072]

​@@Andthenbambwahahaha 😅😅

[@shantanuskul]

Tom, this podcast has motivated me to do something extraordinary in life. Thank you.

[@Resmith18SR]

Like what? Tell us all.

[@meme-vg2fu]

No one is ever completely self-made, I am sure the two of you didn't grow up in the slums of Africa. Your background and connections make a big difference in what you have achieved in your lives.

[@chrisaiello4896]

Elon Musk came from the slums of Africa

[@BBshark000]

@@chrisaiello4896Everything is IQ-determined. Elon Musk most likely has an IQ of above 160. The guest in this show and Tom certainly do not have an IQ higher than 140, if not much lower.

[@plantmanstudios]

​@@BBshark000incorrect. Everything is not IQ driven. If it were the world would be a well oiled machine and it isn't.

[@passiveaction]

"most of America will die broke, alone and fat" lol...

[@johndoe1.196]

Choices have consequences.

[@TheLeadershipEdge-Motivation]

It’s because they play the game “Follow the follower”.

[@ChrisBird1]

The crash is always coming, always has been and always will . They saying this 3 years ago and people missed out on doubling there money over that time😢

[@johndoe1.196]

"Be afraid! You all taste so much better when you're afraid!" -Pennywise the Clown.

[@chrisjenkins9978]

A leaking dam will definitely collapse but, no one can predict the exact moment.

[@cceats9009]

❤❤❤

[@RobertJohnson-lc5bj]

What an amazing conversation ! Makes me optimistic for our future listening to this.Que Profundo !We now have our best people working night and day on these issues.

[@HeyLiem]

Tom, the US government raised the retirement age. Recently, I was born in 1963 and I was going to retire at age 65, now they've changed it to age 67 if I want to get 100% of my Social Security payment. So your theory is wrong that because it did not work in France, it can't be done here. They already did it here and the propaganda Legacy media covered up the story.

[@Patrick-rf3zu]

Elections have consequences

[@Clevelandsteamer324]

You should be able to retire at 55 . 67 is ridiculous

[@elsavelaz]

@39:44 truths that 1 extra hour puts you ahead. Being in software engr school at age 40 I saw smarter younger ppl give up earlier and yeah I got better grades and better jobs

[@iC4XCLEARLY]

This conversation is needed but I disagree with the outlook that retail investors can’t make money relatively easily. The equities market will rise when interest rates are low. The dollar will rise when the rates are high 🤷🏿‍♂️

[@zephaniahobokello1073]

Wooow @ Tom am happy about the daily updates and awareness you give together with your team thanks Big!!

[@pattypoo72]

Great interview from both, Codie is sensational speaker and story teller. Sound advise for the future. Thank you

[@shanejones578]

24. Can’t afford to live on my own. Can’t afford shit. I work my ass off. Just gets taken from me by somebody or another…

[@JustAnotherJarhead]

Stay in school Shane, it's the only way to climb out of the bucket, do not quit until you have a graduate degree, and you will be fine. Btw, look for work with Uncle Sam, not private industry with that degree, you will thank me in 25 years.

[@Starfish2145]

Sorry kiddo. It stinks

[@michaeld4137]

definitely don’t stay in school lol. then you will just be in debt and jobless. just go be a plumber.

[@jonathanchristman335]

Define work your ass off cuz im 30 and people my age and younger thinks 40 hours a week is a lot

[@Alex-hu8gj]

I feel you and it's bad you need to dump in the trash what you're doing now... it's not working btw almost the same story but a bit different I am stuck in one place no progress at all fuckin wage slavery always one salary away from bankruptcy. This video is like we talked for 3 hours saying almost nothing. Work hard this still makes me laugh and what actually happens when you work hard close to nothing maybe some kind of promotion well this stays in the "Maybe" category your manager will walk on his head literally he's dying when a thought that he can be replaced come in his mind. So the hard-working crap, not exactly true maybe it is if you own what you work. For example, when I work hard my manager is sprinting to his boss or manager or whatever is called to take the credit. Would like to see more opinions. In the end, I had an impression this chick doesn't have a clue what she's talking about lol my guess is the husband Seal is taking care of everything and she's just running her mouth

[@Tech-ez1qj]

We outsourced our jobs. We sent our factories overseas. Those jobs were people who paid taxes. Those factories were companies that paid taxes. Those taxes ran the government. That money is not coming in anymore. The corporate taxes rate was higher from 30s until 1980 when Regan slashed them. So, fewer taxes beaing paid, and then fewer companies pay taxes. They then raised taxed on the working class, but now they make less money than before because the good jobs were sent overseas so the billionaires you put more money in their pockets. Then she comes along and says it's stupid to raise taxes on the richest 400 people because it will only fund the government for 7 months. You know what those billionaires wrecked this country. They need to pay taxes and be punished for what they have done to us. We need to bring back the factories and jobs and make companies pay taxes. We need to bring back the unions to protect the working class jobs. That's just a start.

[@adamfox9634]

You don’t raise tax revenue by ordering companies to bring back those factories and jobs, then raising corporate tax rates. The latter is what drove companies to places like Dubai. We’re not living in the 1920s anymore. When the government says they’re going to tax the rich, they simply lower the definition of “rich.” The politicians represent the rich donor class. The billionaire CEOs are the ones getting the politicians elected. This “tax the rich” argument is decades, if not a century, old. If you want the corporations to come back to the US, then we need a globally competitive corporate tax rate. Think about the trillions of dollars we’d have in tax revenues if we lowered the corporate tax rate enough to compete globally. Think about this. Would you rather have 40% of nothing or 18% of trillions? Also, corporate taxes are always passed onto the consumer because people pay taxes, corporations do not.

[@jstro7136]

There has to be a balance. Not over taxing people(even the rich) and creating a system that doesn't drain our country of production capacity/good jobs aren't mutually exclusive. It really boils down to promoting capitalism and preventing chrony capitalism.

[@JeffSherlock]

"We"---not really, political fanatics and trade unions caused many business to close, and other moved to foreign lands. "We", no.

[@Beth-77]

So you are basically a Marxist/Leninist wanting revenge?

[@nadjadavidson411]

51:00 My son is graduating from HS in a month. He always had to work for his pocket money. Fed up receiving an hourly wage, he started a car detailing hustle and just added window cleaning. He’s doing really great and is extremely proud of the money he earns. I actually mentioned to him Cody’s advice to start a “dirty” business because most people with money don’t want to clean themselves.

[@johnwright6403]

Cody is so smart. We need to tell our government to buckle down. That should come first

[@MH-53E]

If it were anything other than a cost cutting, investor driven measure, having the staff clean the office and bathrooms is almost petty and unappreciative of why they are there, making you money or points. Oh, I'm pretty sure it was their decision, in a death meeting. I'm just shaking my head.

[@1africa-io]

These ideas are unbelievable... wow i dont believe how blind self made wealthy people can be...😂🎉 America is becoming a Nigeria quickly

[@ms.leslie9114]

Omg ur so right! I said the same thing!

[@mikeparr194]

This conversation is priceless! Thank you so much and please keep up the great work!

[@Think_Up]

Best vid on this channel so far for me. That 25 second intro was incredible.

[@JayClem-cf5vj]

Sorry to disagree with CS' premise, but some cold facts... We had real income growth for working class Americans until Reagan pushed trickle down economics, halved the tax rates on the highest income brackets and enabled them to start hoarding wealth... which has only caused a massive wealth gap. The rich don't spend the majority of that windfall... they invest it and increase the wealth gap further. Hence 40 years of no "real income" growth for 90% of Americans.

[@canerkayahex]

They also leverage their wealth to suppress the income of others and diminish job opportunities. Meanwhile, They subject us to exhaustive 6-step job interviews while we're left fighting amongst ourselves just to earn a living wage.

[@johnwright6403]

Remember years ago when we made almost everything we need in America? I do! These two have good points about our tax burdens. I am a blue collar worker 53 years old. I describe my situation as mostly “ treading water” I started listening to these two a year ago. It gives me hope that if I make smart decisions, I may be able to retire some day! Taxing middle class heavily needs to end! Our class is the work horse of America. Our class is the most productive group in America! We have earned a fair deal not repression!

[@marcariotto1709]

I offer one correction to your narrative. America was losing manufacturing base before Reagan. The trend in declining MC household income and wealth is highly correlated with the beginning of the oil standard. That is because oil is undervalued. The ability to decouple the true cost of oil and its derivatives from ecological and societal factors and damage allows finance and industry to exploit the energy supply against us. Reagan's trickle-down policies never trickled down because there were no mechanisms in place to make it happen in an economic environment, lacking labor pressure. There is now labor pressure, but it is also driving inflation along with retiring boomers and other factors. We're in for a bumpy ride, but at least we're reshoring industry bigtime now. Peace

[@SpicyGramCracker]

The rich paying warehouse workers $13-$17 hr says it all.

[@johnoliver4199]

Blaming Reagan for a macro trend that was very much already well established is just more tribal bias. I hear a lot populist rhetoric on many of these other sites as if there is some sort of command and control economy that can fix everything . Like from what and who( no pun intended)like from Clause S or Bill Gates and the WEF. It is all magical thinking. Uphold the US Constitution, keep government small and limited and stop whining because the world is imperfect and someone made more money than you.

[@grantmonson7708]

When I was a kid I was called dumbo because of my ears too. One time when my friend had called me dumbo and i responded at least I can fly. He then responded saying if you don't quit pissing me off I'm going cut one of your ears off so you'll only fly in circles.... I had no response to that.... anyways great video, very insightful! I love listening to these pods.

[@virtualistrust2335]

Lmao. I think I learned something from your story.

[@fjai2755]

I think that people forget that most of those drawing social security and Medicare have paid into these systems their entire working life. As a senior, I don't think that I'm getting a Social Security check because I need it. This is something that I paid for. Further, my Medicare premiums are higher than what many non-retired people are paying.

[@Nick_Leo]

Tom, the thing you're missing is that dollar denominated debt is also affected by monetary debasement. As the dollar inflates and is debased toward 0, the actual USD denominated debts become irrelevant. Bitcoin isn't just a life raft, it has the potential to actually unwind the current debt crisis due to its appreciation in purchasing power.

[@leadgenjay]

Be sure to manage risk carefully.

[@flipsyder]

you don't have to manage risk if you don't have any risk at all right? LOL

[@Whale15]

10x leverage on doge

[@CatfishGumbo23]

​@@Whale15Shiba

[@Whale15]

lol. Gotta get me some of the Slerf token too. @@CatfishGumbo23

[@depnox]

Inflation has not come down. Watch gold, it is showing you something Bitcoin is not.

[@johndoe1.196]

Central banks buying GOLD is showing us something too.

[@Jeff-cp9xn]

Tom, i dont watch impact theory much anymore because 3+ hours are just too long. I loved your denser, 45min vids and i would watch those on repeat Also miss your epic intros for those people

[@WildAtoms]

Please keep these meetings coming! U guys are so great to hear! Thank you!

[@quacktuber1051]

Lol. The people will throw any government out of office that doesn't spend she pretend us into insolvency. "I have seen the enemy and he is us"- Pogo

[@AssiToniful]

watching this as a european (german to be specific) makes my head shaking all the time... I find this (american) view from the rich close to absurd. The whealth gap is nowhere bigger then in the USA and the rich people pay a lot for protection (gated community), trickle-down theory is non-sense and the lowering of taxes in the last 20(?) years has not lead to the (projected) goal, yet you argue that higher taxes make no sense... crazy to understand for (probably) most europeans...

[@SmartestDumbGuy]

I have a lot of friends that are taking retired young because they are taking advantage of the system. Just had a buddy yesterday tell me that he knows he is being lazy... but he can't stop because the free help is there. The rich pay 90% of the tax. I used to make 2 million a year. I got tired of paying so much in tax so now I shrank my company and fired everybody and retired at 30. That's what the tax code does... it dis-incentivizes the job creators. You want to raise taxes more? We will just quit and relax... then what will you do for work?

[@JustAnotherJarhead]

higher taxes don't actually solve anything. We just spend too much here on Gov't, but I looked at Deutschland as well, you guys spend too much on Gov't as well.

[@AssiToniful]

@@JustAnotherJarhead that is very true unfortunatly... my general view is: regardless how fair/just any economical system may be, if the result is, that there is a (too) big in-equality in life, that cannot be a sustainalbe system. You can't live as a single billionaire surrounded by only poor people...

[@devon.dulaney]

The problem is what our taxes go to. Why should anyone desire to put more money into a system which doesn't achieve the desired outcome? If our tax money isn't going to the projects we desire, if our streets are unfixed, infrastructure collapsing, etc. Even with all of the money, the MASSIVE spending rate that we already do have, how would giving MORE money into that broken system fix anything? The issue is not the rate of taxation, it's the allocation of those resources. Our money is being used in programs the majority would never approve of if we had a direct democracy system and could vote to allocate exactly where our tax dollars go.

[@AssiToniful]

@@devon.dulaney I couldn't agree more with you! What you write, is unfortunatly true in most countries around the world...

[@BigDiscussions76]

Around 8:00, monetary transfers. Shout out to the Words & Numbers Podcast for turning onto that principle. Keep up the good work Tom.

[@ragenationapparel]

"Up, down, in and out of classes" is so wildly true.

[@StateofBeingness]

Cody made a basic mistake and describing inflation: she said that “inflation is down”… Yet grocery prices are up. That is incorrect. The rate of inflation is down, but we still have positive inflation. Furthermore, The CPI index calculation is not capturing what is actually happening to the average price of goods being purchased by the average US consumer. Case point is rent which is a lot higher.

[@hfortenberry]

Yeah, she said several things wrong. She’s pretty good at twisting things to make it sound like what she wants you to think.

[@antpoo]

Yep I just commented on her rookie mistake also regarding inflation. Monetary inflation vs CPI vs rate of inflation.

[@chrisjenkins9978]

Makes you wonder…

[@devon.dulaney]

She actually said "depending how you measure it" and went on the explain the differences and the consumer price variation from the official inflation measurement. So, no, you're incorrect.

[@JayClem-cf5vj]

One of the problems is corporate greed. As CS said...businesses raise prices but never pass cost savings back to the consumer. Many try to hide their price increases as shrinkflation. I don't see any major corporations profits decreasing... we are paying for it.

[@BboyMunkey]

I see two rich people talking about not taxing the rich haha 👏🏽

[@russbilderback]

You didn't see them talking about how "taxing the rich" is not the solution? Because that part was clear. And it isn't the solution. Unless you don't believe in math.

[@JamesDecker7]

Make the rich pay the taxes they ALREADY owe but dodge. Don’t tax them more, just enforce it so that companies don’t come out NOT paying taxes.

[@russbilderback]

@@JamesDecker7 that's all good. But it's still the people thinking that the problem is the rich not being taxed enough that are the problem... and retarded. Like yeah, that's totally the problem.. it's not MASSSSSSIVE wasteful govt spending and printing Trillions of $ out of thin air. As has been documented ad nausea, you could take every Cent from ALL the rich people and it would hardly even scratch the surface of the problem, and do nothing to take care of it. The problem with the "TaX tHe RiCh!" freaks, is they're too ignorant to realize that if you wanted to fix the debt, solve the issues going on, etc etc, that taxing the rich more, or even enforcing it more, isn't even that high on the list of effective options.

[@PowerofRock24]

People that argue we need more taxes on ANYONE are totally and absolutely 'regarded'. Especially lefties. It's like self flagellation. But lefties love to be cucked, financially and otherwise.

[@Jeff-cp9xn]

You wanna get rich or not? Learn

[@neilaleksandrov2655]

wow I completely misjudged this interview initially, its great and I love the message... glad i kept listening

[@SenorJuan2023]

Commercials every three minutes is a major turn off.

[@604achilles]

I'm not where near the top and all I work on mist days is my thinking and how I think. Not something only people at the tip do but I definitely see why you think that.

[@whdndrn]

Its not about who is best at making money. Its about creating a happy community for all.

[@dont.ripfuller6587]

Prosperity goes hand in hand with happiness. Every problem you can have is made worse by destitution.

[@RobbieGrz]

What are you talking about? Making money directly means you’re adding value

[@onlyfansmarco]

The problem with your statement is he lives in California! Everyone is taxed to death in California. If you own a home, car even when you buy from any store in California in store or online you are taxed. There is no tax evasion in California unless you are a cash only business in which case you avoid some of the taxes but not all taxes. #getsmarterquick

[@user-lm9gc6ml6v]

Whats Bology’s last name?

[@katemccrew]

I was just traveling through Nicaragua, I met tons of families bugging out and escaping USA, and Canada, and uk

[@rachaelwalrath6077]

This is awesome and inspiring. I thought about buying a small business but doubted myself. Now I am going to do it.

[@wildhorses6817]

Government plans to forgive all college tuition debt. Sickening.

[@johndoe1.196]

Forgive = paid for by other taxpayers.

[@kaputasri]

I don't think they will do it.Why would the slave master let the slaves go free?

[@adammorra3813]

More gen z live at home because they cant afford rent.

[@SmartestDumbGuy]

In the 2000's we shared rooms in rentals. I lived with 5 guys. It's always been expensive. This isn't any different. Why does gen Z think life is supposed to be easy and cheap?

[@adammorra3813]

@@SmartestDumbGuy take a look at rent and wage growth. In the 2000s, you could afford an apartment on your own in LCOL. Now you cant afford it anywhere.

[@kyliepechler]

@@adammorra3813 Precisely.

[@AlmaVasquezjr]

Extended family living is better for mental health. The young man should not move out of parents house until marriage.

[@geoffl.3247]

​@SmartestDumbGuy When you're 30 years old you shouldn't have to live with roommates anymore. It's ridiculous. You have to make over 150k household income to be able to afford having a small family. Probably over 200k if you actually want to give them a well protected future.

[@jonandrus1655]

These interviews with Codie Sanchez are the best that you do n

[@jarizapp3656]

Love listening to both of you. Inspiring, exciting and appliable.

[@mathewjenkins2318]

Money is a way to keep people working on someone elses yacht. If we dont get away from Money we will never achieve deep utopia. There are forces that want us to stay on the hamster wheel Even yourself Tom, you like the power of "employees" aka slaves to your money. All to feed the ego/ "who am i if im not in a higher position than other people" And youll say something like im giving people a way to make a living. (but really you know you could never achieve your goal that you wouldnt of even had if it wasnt for the system of money. if they didnt need the money they wouldn't have needed the work. So now they are stuck doing a podcact that they dont really want to. If they have any part of there true humanity left they would want to spend time with their family and not some dude they know all day The idea that no one will work without money is bs "for stay working on my yacht or Armageddon." We have the tech to live in low level utopia now, but were just stuck working on someone elses shit, that they only created to make money. So like you said there is no way you can imagine the current system We have reached the end of human intellectual ability to continue the economic cycle. Thats why were in this position. But even if humans could, we still reach a point were no one does low level work. The end game for money is a single monopoly but thats illegal. This is a contradiction to the idea of capitalism that we should be doing things cheaper and more effective because of the consolidation of assets to fewer companies could be cheaper and more efficient. Its not fair anymore not everyone can keep up. And if we can afford food because everyone does everything else besides produce food because its not as profitable as doing something thats isnt truly beneficial to our humanity. How much pollution is in the name of profit? We can't move the narrative forward by continuing this cycle So we choose to delete all of the worlds data every 30 years so we can live in the pinnacle of capitalism 80s though 2010s (just restart when we reach the 2008 crisis) or end money and move on. Not to mention all the laws that are to maintain status quo zoning and so forth. Ownership by private citizens. That keep us from actually achieving the the change necessary to maintain the capitalist idea of innovation progress. Especially zoning laws So now i cant build up so i have to build outward with limited space. So inflation But unlike you Tom i dont give anyone the benefit of the doubt. People that want power want power to their own ends. Then we could get into human on human pred / prey dynamics that money allows for....

[@russburton4018]

Best comment ever they need to eat a piece of humble pie I think that she is intelligent for a woman tho

[@aliciastanley5582]

So let me get this straight: taxing corporations and the wealthy for their fair share at just 15%, NOT “ ALL THEIR MONEY” which is what the rest of us pay(15%) is asking too damn much, sorry I don’t think so. 15% mandate is not “ taxing the life out of the wealthy”. And calling my social security an “entitlement “ is bullshit cause I paid out of every hard earned paycheck from 14yrs old to 68 out for social security. It’s a paid up insurance plan. So who borrowed from it and never paid any back? Republicans? Hmmm.You rich corporate & people tears just honestly disgust me.

[@FloatingThroughTheRealm]

My thoughts exactly. And clearly, her vote is tied up with her money, and nothing else matters.

[@aliciastanley5582]

@@FloatingThroughTheRealm yeah. What disappoints me is Tom,the host, is right there in agreement with her. I thought maybe he was better than that.

[@JustAnotherJarhead]

let's face it... you got duped.

[@JustAnotherJarhead]

clue: Rep/Dem both robbed from the fund. If we maintained our 2.5 net children per married couple , you would be fine as the youth would directly fund YOUR "entitlement" . Bu it doesn't look so good for your grandkids, as they will live to be 105, and there is no math that will support their retirement at 65, with extended lifespans.

[@aliciastanley5582]

@@JustAnotherJarhead She is threatening a recession taking on Republican talking points. But the money people have been threatening recession and even depression since Biden came in but they’ve been absolutely wrong. They are so selfish - all they care about is not paying their fair share of taxes. Something really has to change with them. They are happy to fund and support a fascist and even Nazi regime in America just to save a few bucks. I don’t consider these people good Americans.

[@johnoliver4199]

This is very interesting what she is saying about BlackRock- I would not thought at the beginning of the podcast that she would have had that opinion. I am glad she does.