Deficits are part of the financial equation. It must be created. The reason is Government does NOT get money from taxes or bonds. Taxes are collected in the end of fiscal year. The government spends FIRST it collects taxes later in order to create demand for those dollars. Therefore, that government doesn’t need to BORROW IT. it sells bonds in order to create demand for those dollars along with taxes it collects, the currency therefore have value. Remember , the dollar is or any fiat currency is owned & issued by the government.
@podocrypto60722 ай бұрын
Pinned by Hamish Hodder @HamishHodder - What country do you reside in?
@andysurfer3182 ай бұрын
Too late it seems.
@TruBlu652 ай бұрын
🎉😂😮😅🎉😢😢😮
@veniceblackwood29312 ай бұрын
You folks do not know what inflation is. Prices never go down again. Prices may stabilize one day, and that's how inflation works around the world.
@morenowg2 ай бұрын
I haven’t seen a gas station selling gas for $2.00 nor have I seen a loaf of bread for $.75 …. You are right prices of most consumable items won’t go down
@veniceblackwood29312 ай бұрын
@aigajenkinson24952 ай бұрын
research on this name,. Kristin Amy Rose.
@TruBlu652 ай бұрын
Companies may not lower pricing even if rates are eased
@TheQu3tzalify2 ай бұрын
The conclusion is not true. I'm an AI research engineer, I work on multimodal LLMs for search with RAG and other fun stuff. I also do applications of robotic foundational models. Running any big model in the cloud is much much faster than locally. To be able to run a big LLM locally you need a ton of compute, like 8xA100 easily and that's not even enough for the biggest models. I'm 100% convinced that we will NOT see an upgrade in end-user devices. Everything will be in the cloud (as it already is). The only people still running local models will be privacy-nerds (I see nothing wrong with that btw) and companies with security and privacy imperatives. There's no way your phone will ever be able to run big LLM or audio/image/video diffusion models locally even heavily quantized and optimized for inference. Our phones are already glorified end terminals and do very very little compute locally. The only exception is phone cameras that do image cleaning, stabilization, enhancing, etc... but that's it.
@philippeleban34872 ай бұрын
Thanks for that information
@manvsmachine12 ай бұрын
Lama3 on my old m1 mbp is running great. How in the world is L3 + RAG not a killer edge use case?!?
@swishersnaaake82082 ай бұрын
Exactly. And the comparison with games isn't a good one because streamed games have serious problems with value proposition and UX. Rest of the video was good though.
@TheQu3tzalify2 ай бұрын
@@manvsmachine1 heavily quantized 8B version, right? it's not a killer use case because you don't want to empty your battery for an hour of chat. Also on what are you going to RAG? On documents you want to have synchronized across your phone and desktop, which requires pulling data. In the end, why not just pay a couple bucks for the company to also do the compute and not just the data keeping? Also you might be satisfied with a chat interface for now, but with GPT-4o and Project Astra, now people will expect video question answering in real-time, which add a hell of complexity and compute power.
@seandelaney17002 ай бұрын
I have heard several investors propose device upgrades will be necessary, you make me question that? Wish I knew more to make their arguments, after all they have a lot riding on their investments.
@PCMenten2 ай бұрын
When your mortgage rate is lower than inflation, you hold tight because you’re making money without risk.
@Ek02 ай бұрын
This only makes sense in the context of your home. If home price inflation is rising > than your mortgage rate, then yes.
@longgowhereto2 ай бұрын
This is how fools think. And as you have a like I will ditch this channel now. You sit in a fixed rate, but the others do not - means nobody can afford houses at those rates and housing will crash and when the houses in your street crash - so does yours. You may say you do not care that your house falls, but you pay down a 300k mortgage while your neighbour gets foreclosed at 150k. Think, and never write such a bs without thinking.
@bomaniigloo2 ай бұрын
What they tell the cattle and do for themselves are 2 completely different things
@tobybrown11792 ай бұрын
Amen, ahead of the curve
@wernermesserer44642 ай бұрын
The wallstreet types have to show a happy face, else they would scare their customers and their fees away.
@j35582 ай бұрын
i don't trust anything from cnbs
@carolyngreen602 ай бұрын
A.I. as with all new technology throughout all of history, is a weapon.
@jasona58062 ай бұрын
I find it amazing how split people are on the economy.. the only thing more split is politics
@HamishHodder2 ай бұрын
fugayzi, fugazi. It's a whazy. It's a woozie
@profitmix4412 ай бұрын
We have people on Tv selling us flowers. But once the TV shuts off is back to reality.
@CeeJay5912 ай бұрын
I’m sure there are many people who need to sell their houses now, due to change in circumstances, higher taxes or HOA fees, higher insurance rates, etc but can’t due to the much higher mortgage rate - but this situation can only last so long and in fact I have seen housing prices decreasing for less desirable properties. If we do see any sort of contraction in the job market more people will sell out of necessity which would drive the market even lower, as folks want to get as much money as possible before the bottom falls out. Also, the savings rate going down is not a bullish sign - it is a sign that many folks are struggling with inflation as their income is not keeping pace with rising prices. Inflation and higher rates take a long time to impact the economy but, when the full impact hits, expect a significant slowdown, which is exactly what is needed to tame inflation.
@TheSuavest2 ай бұрын
Cloud Computing is the real money making machine. Cloud Computing is the vehicle AI will be distributed on because obviously the hardware will likely never be compact enough to run that level of software and code.
@seanjournot71152 ай бұрын
machine learning requires massive resources to train but not nearly as much to run after training is complete. A large hardware upgrade isn't really required to run machine learning apps locally on desktops, laptops and phones. For instance; a HPC may be needed to train a model that adds bunny ears to live video of people but the trained model would be executable on a phone.
@michealpnoel2 ай бұрын
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki
@seandelaney17002 ай бұрын
I watched this interview and couldn't understand his take on CC delinquencies. Thanks for re-airing it with real data. Not sure whey he got not push back on this?
@jjrossphd2 ай бұрын
I don't think you can dismiss government debt . Jay Powell has said it is uncontroversial that the current debt spiral is "unsustainable." No one in the Fed has contradicted him. Eisman is not an economist. We may not know when the inflection point will appear, but ignorance is a poor excuse for inaction.
@sheryllynmc2 ай бұрын
Good warnings - it won't be like we expect it today!
@scottallen5862 ай бұрын
If youve seen the film Steve Eisman got lucky picking up a wrong number phone call meant for someone else...so he is hardly Michael Burry
@parkerbohnn2 ай бұрын
Anyone in U.S. stocks will lose everything unless they day trade. The buy and hold crowd will go bye-bye.
@Julio8362 ай бұрын
Once again thanks for your very informative update. Keep up the good work
@supercal3332 ай бұрын
So are credit card delinquencies up or down? Did you find if he was right about them being down?
@likes-yv3lj2 ай бұрын
Man this aged well considering apple jumped 15% the other day
@andrewhoover46412 ай бұрын
Main Street is hurting and no one wants to admit it!
@TheHumanSynthesizer692 ай бұрын
The bots is insane
@anonymoustoo49452 ай бұрын
beep boop beep… quite rational actually… we’ll be taking over soon… beep beep boop
@HamishHodder2 ай бұрын
I cant delete them fast enough 😢
@anonymoustoo49452 ай бұрын
@@HamishHodder dont hurt us … boop bop tiddly winks
@fwy44782 ай бұрын
The last bit of words of wisdom! Thanks for sharing mate
@watermenplumbingfiltration1442 ай бұрын
Streaming and Processing power are very different things.
@andysurfer3182 ай бұрын
Is he steve corral?
@naiveideen16382 ай бұрын
im either way on gov spending, but the "they have been saying that for 40 years" argument doesnt really convince me. climate change has been an issue for roughly the same time frame, there has not been a collapse from it yet, but we still know if we dont adress it we are screwed. right now goverments are like banks in 2007, too big to fail. which also means there cant be graceful failure, only devastation when it does fail.
@Tunnanios2 ай бұрын
Not sure if you follow these 2 but a segment on Jeffrey Gundlach and Stan Druckenmiller would be awesome. I'm liking bonds and I think a good video on bonds and yields would be timely considering the drop on the 10yr
@Bogusgal2 ай бұрын
If most people bought a house at a 3% mortgage and plan to hold it for 20 years or more, then how can they be "stuck" or "house poor"? Why would they even move if the mortgage fell down to 1%? They would just refinance at the lower rate and stay in the same house.
@johnmceiver37692 ай бұрын
It's "Vince" from SHAM-WOW !
@goobda_2 ай бұрын
Why have you ditched the Q&A section in your podcast?
@beachbum46912 ай бұрын
Hamish'., I subscribed a very long time ago (thankfully) ;)
@bhok5228-ff8bs2 ай бұрын
Great video
@amandagorter16842 ай бұрын
Awateness of the market data manipulation is also growing ... so lets see how far this control lasts
@yiptastic122 ай бұрын
It depends on the AI app... bulk of AI computation will have to be processed in cloud.
@scoopdecoop2 ай бұрын
I have really bad wifi and the ai chats work really well. Don't need an upgrade from my 8plus!
@almostfamous7912 ай бұрын
we will never pay off the debt we cant even pay the interest.
@DanielHernandez-sb1ix2 ай бұрын
All of your research is completely correct, but the market hasn't changed. I've seen so many of these videos and it hasn't helped at all because again!!! The market doesn't care.
@lexwielstra76052 ай бұрын
The deficit is not an issue is kind of a dumb comment when you know that they will either have to raise taxes or inflation. Both will show up on your business performances.
@TheCyberHawk12 ай бұрын
St. Louis is pronounced like "Saint Lewis". Great video tho.
@papapickett72672 ай бұрын
Like Eisman said, “Im not an economist” He doesnt think 34T in debt is a serious concern? Thats very foolish.
@adammarette24912 ай бұрын
Video games are already streamed from cloud it just sucks because of the latency issues
@nathanvanorman58872 ай бұрын
What middle consumer?
@philippeleban34872 ай бұрын
The bond market is being bought by the FED. Each time it approaches 5% it dips miraculously back down even though the economic news and information hasn’t changed. The dollar is about to be decoupled from its Saudi partner. Each set of data from the government is wonderful until it’s revised a month later. Everything is fine, nothing to worry about.
@levitheonlylevi20472 ай бұрын
When savings rate is down people are spending. When recession begins savings rates go up as fear enters the market. That's the math. Low savings rate and high credit card debt = consumer confidence.
@recaplrg35522 ай бұрын
one thing is for sure, you can't outprint the deficit. It won't work. It never worked.
@AccumulationNation12 ай бұрын
Eisman said banks/financials were "uninvestable" just a month or two before they all sky-rocketed.
@amandagorter16842 ай бұрын
The US keeps printing because they are the main reserve currency n have the control very much in their gands... but now the de dolarisation and BRICS currency and transacts in their own currency will take that control away very quickly... As said by Ham here,
@manvsmachine12 ай бұрын
You said his ai stock, but what was it!?
@josephseitzinger8992 ай бұрын
Wait til stable coin legislation comes in and they have to be backed by bonds. We’ll cancel the debt soon with blockchain.
@jestinedoor5152 ай бұрын
Amazing video. Very informative and inline with my thinking. It’s tru that right now the hype is AI chips and tbh I hold some positions in said chip companies but the real question is what comes after that. In today’s reality I would like AI apps in my phone that allow me to do everyday tasks with a tap of a button or better voice activated by telling them what I need done. I completely agree with Steve Iseman. His team have really put in the work and done the research.
@HouseofTheRisingFunk2 ай бұрын
The delinquency rate on commercial bank consumer loans is rising not falling. Eisman is out of touch with reality.
@God_power-w8u2 ай бұрын
Thanks, please make a video about memecoins I prefer Flokong that is strong
@Kevin457922 ай бұрын
If everything is good then why has the reverse repo dropped from 2 trillion to 371 billion 🤔
@bomaniigloo2 ай бұрын
>ignores 99% of net job growth since 2020 being only part time jobs >ignores decreasing employment in native born US workers since 2020. >ignores constant upward revision of unemployment rate for the last 18 months. Lol. Yeah. Super sharp analysis there Eisman.
@freetrailer4poor2 ай бұрын
They will never run locally
@only6382 ай бұрын
Coinbase listing Flokong Binance probably in line too
@rogerterry50132 ай бұрын
The fear of deficit was created by Thatcher and Reagan who viewed the national economy the same as that of a convenience store.
@PhilipMatthewsPAEACP2 ай бұрын
Everything is great keep borrowing, it will be spectacular when the rug get's pulled! LOL
@Magimotorsports2 ай бұрын
I wonder if that is going side track Sam from his position at $Oklo
@bella007adb2 ай бұрын
AI directly on a decentralised blockchain. ICP!
@acegolfman32032 ай бұрын
Ai videos require a lot of power and space in the cloud - waiting for sora to create videos on phone
@georgelien2 ай бұрын
He looks good !
@davidlehnhardt32452 ай бұрын
Ok video but you need better research. Latency is the issue. Stat is why games and Ai can’t be streamed.
@afaceforradiowithrichardma48312 ай бұрын
What is he talking about!! He wasn’t that smart. He got lucky if you remember. Michael Burry was the genius not this guy!!
@SoniKumari-vs4fg2 ай бұрын
I respect your work mate so you say Flokong good one to use?
@jasonk1252 ай бұрын
Government spending is some business' income. If the government stops spending we will go into an immediate recession.
@ahliong2 ай бұрын
Relentless printing of money. Enjoy.
@DeepuKumar-ob5be2 ай бұрын
Thank you for your research. I find your videos are well done. When Flokong hits it hits hard
@bjorntorlarsson2 ай бұрын
Late 1990s the future looked like there'd be mobile phones with great capabilities, search engines likewise, and internet shops. And so it turned out tobe! But investing in Nokia and Altavista and Netscape and the internet shops of the day, still didn't turn out to be a good idea. The wiser second wave of movers destroyed them all.
@corbz98682 ай бұрын
Icp is the best. All on chain
@manisharma991982 ай бұрын
Binance listing Flokong is set in stone. 🔥
@trofas99452 ай бұрын
Pronounced Saint Lewis,
@elliotrodgers67762 ай бұрын
You’re spot on about AI backend being held locally in the future. Great analogies with the movie formats.
@synewparadigm2 ай бұрын
À trillion dollars deficit every 100 days but "all is fine" ? 😂
@RicePotato202 ай бұрын
No worries about the deficit. I find that unbelievable. The US has already 34 trillion debt. Need to print more and more money because of the yearly deficit. And the US needs to pay a lot of extra interest because of this debt. This is on long term not sustainable. It can even cause hype inflation if the other countries in the world will not accept the USD as reserve currency anymore. That is already happening. The Brics nations are planning to stop using the USD for various things. The moment they start with that plan. USD will collaps. So if i were the US i would focus on the deficit and the total debt of 34 trillion.
@RicePotato202 ай бұрын
When i typed above i did not see the whole video yet. Well i guess i have the same opinion as some well known economics :P
@ArchangelMichaelable2 ай бұрын
Well maybe Eisman believes his own bull shit
@prebenpetersen59822 ай бұрын
So Eisman basically says that the deficit isnt going to be a problem because it never has been That is one fucking crazy conclusion. It is not a rationel argument. If he said, because the US will “print” then fine, but that has consequences. But saying “just because” is not valid for me.
@mktwatcher2 ай бұрын
Stevie's wrong about Apple. Apple is getting left behind. Think of the 80/20 Rule - More & More of the same Questions will have been answered providing faster response Local A.I. is going to continue to run on Thin Clients (Including Phones) with better software + Smarter Algos, faster Internet Speeds + Pico Compression
I think we can all agree this man would never give tips for free. Whatever the media say do the opposite
@RonakKhatak2 ай бұрын
I'm giving all stacks to Flokong. The returns work and will be better more and more
@erichammond24662 ай бұрын
What did they pay him to say the economy is ok?.
@michaelbetancourt17582 ай бұрын
probably economists who see record highs in the stock market and very low unemployment
@rickmorrow9932 ай бұрын
Steve married Marisa Tomei, right?
@hydranth2 ай бұрын
Steve Eisman. The guy who made money because of wrong number? 😁
@Pizza-gb1ch2 ай бұрын
Agreed. He even said "laptops." "Laptops"?! 💁 Laptops are a thing of the past.
@rickr86352 ай бұрын
AI is slowly going to be just like car EVs for exactly same reason infrastructure not capable to have the energy needed in process but they are silent about that... But itty bitty company found how to do it for lower watts like TV.... and not public yet but when they are going to be the one who patent the one every AI system needs...or hope The nuclear energy is the answer 😁
@tripac33922 ай бұрын
Great, ai will make people even lazyer.
@mktwatcher2 ай бұрын
I think Stevie is has been slipped some Special K
@JamesAnderson-ez2df2 ай бұрын
The Big Short investor is the Big BS investor.
@bagel0802 ай бұрын
Steve is now a lizard?
@ryen73352 ай бұрын
why do you care so much about another country's finances? you probably know more about your own country, you should cover that, and stop parroting mainstream news.
@thinkpod45432 ай бұрын
Lol
@Frank-sh4xw2 ай бұрын
I can't believe Steve doesn't think the economy is in trouble. He may have been turned to the dark side. Sad...
@michaelbetancourt17582 ай бұрын
lol, No, Steve is riding the stock market to new records highs
@808pera62 ай бұрын
The Republicans know how to earn money, and the Democrats know how to spend it. When Trump was in office, my exported products tripled, my gross revenue doubled, and my personal investment value almost doubled. Many of my colleagues had similar or better results. In the first year, the Democrats were in office, everything stopped, as many projects in America were shut down, and the Democrats started their overseas spending spree.
@k.h.69912 ай бұрын
Weird comment. We had the covid crisis when Trump was in power. That was the main difference for things like export.
@808pera62 ай бұрын
@@k.h.6991@k.h.6991 Yes, His last year in office, I was still doing well with my exports through most of 2020 when government spending increased. What nearly shut down the country was not Covid. It was government bad moves. Ask anyone in business at that time. (pipeline, Border wall, etc.)
@Nicholas-nh2zq2 ай бұрын
My buddy works for him at his hedge fund, that aren’t very profitable
@DrunkenXiGinPing2 ай бұрын
Credit card delinquency is starting to come down???? Is he living in a parallel universe ?????? Just another conman that got lucky!