Household Debt Highest In Nation’s History

Peter Schiff on OAN Real America with Dan Ball. Recorded 2/13/2024
#inflation #economy #debt
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[@tatianastarcic]

The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@CraigLloyd-fz6ns]

Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?

[@bernadofelix]

Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.

[@HectorWhitney]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@bernadofelix]

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.

[@jones9-]

Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.

[@nicolasbenson009]

I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.

[@ScottKindle-bk3hx]

it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.

[@Derawhitney]

well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.

[@PaulKatrina.]

Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.

[@SandraDave.]

this is all new to me, where do I find a fiduciary, can you recommend any?

[@PaulKatrina.]

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Margaret Johnson Arndt for the last five years or so, and her returns have been pretty much amazing.

[@HodgeChris]

I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.

[@Pamela.jess.245]

This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.

[@Pamela.jess.245]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@lawerencemiller9720]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[@alexyoung3126]

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@johnlennon232]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@jessicamoore3093]

That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?

[@johnlennon232]

Lisa Angelique Abel is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@jessicamoore3093]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@ryaj2356]

How the government calculates inflation should be illegal. Let’s ignore food, utilities, transportation and even housing prices and then say that’s inflation hahah.

[@DaviMKim]

CPLIE

[@johndewever1322]

The worse the news the higher the market goes - makes sense 😜

[@MrPathorock]

Nothing surprise. This is called debt economy, happened in Rome.

[@Ofelas1]

Government knows the currency will die and debt will not be repaid, so they spend and do not care

[@gregcapella5941]

WHEN THE SCHIFF HITS THE FAN,,,,PETER RULES !!!!

[@paulbunyan9436]

Peter, we have a machine that spits out green pieces of paper...Nothing to worry about...

[@dustinmiller2775]

That's cotton, actually. 🙃👎

[@mwase7782]

dude, money generated/printed without productivity is what increases inflation. The 2022 & 2023 inflation increase is literally caused by printing money in 2020 when people received checks without productivity creating value in the market.

[@baysiide538]

@@mwase7782obviously. it’s called sarcasm

[@NIPSZ]

The higher the debt, the higher the stock market must go

[@mattmatt6572]

Stock deffinately not kept up with bidenflation. I've only done ok on them because my employer matches my 401k

[@walden6272]

@@mattmatt6572 It's because you picked the wrong stocks. If you had pick AI related tech stocks, you would have triple your money now.

[@mattmatt6572]

​@@walden6272uh right cause people with 401k choose their own stocks lol

[@walden6272]

@@mattmatt6572 We were talking about the stock market, not your 401k.

[@Esperia-ef9xh]

IM BROKE 😢😢

[@SpiKSpaN-ei6zq]

Welcome to the club 🎉

[@franktuccillo6097]

Great guest have him on more often

[@johndewever1322]

Peter is a genius

[@mrjuvy49]

People are using CC debt to keep; "Up with the Jonses', they feel entitled to goods that they really cannot afford.

[@QuilishWammy]

@@johndewever1322 99% of his predictions for the past 15 years have been wrong 🤣🤣 He's not a genius.

[@jefferywilbert01]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[@valeriamason1]

I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.

[@jefferywilbert01]

That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

[@valeriamason1]

My advisor is Helena Crouse

[@valeriamason1]

She’s active on

[@valeriamason1]

TELE

[@mrmustangman]

Peter was right AGAIN.!!!!!!!!!! thanks for keeping it real even if it is real scary.....

[@QuilishWammy]

He is 'right' how ? He has been whining for years that a 'collapse' is coming. But, nothing has happened ;)

[@user-qd8yg1fp7i]

Debt is money. Slavery is freedom. 1984.

[@4evertrue830]

No, that can't be right. Is money not capitalism and is capitalism not freedom that western countries have been forcing on other countries for decades? You have to be wrong bruh. 😏🤭

[@tabasco-jf7eb]

Peter for CHIEF ECONOMIST 2024 🇺🇸

[@Inluvme]

The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of the bad governance. It's obvious we are headed for inflation,it is always the poor who take the hit.

[@LufkinAmaro]

I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Caroline. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.

[@Laughbaum]

I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do? Thank you

[@LufkinAmaro]

Thanks to Mrs Carolina Maria Bravo

[@LufkinAmaro]

She's a licensed broker here in the states.

[@Wei891]

Sounds familiar, I have heard her names on several occasions.. And both her success stories on wall street journey!

[@ytfeverguy8367]

The rich have all the assets (rising stocks), the working class (middle) has all the debt (high interest cc). The poor have tents and soup kitchens. All is fine.

[@webcomber]

Love Peter Schiff!! We have to remember the Peter was the FIRST to call out the Bitcoin scam will over 10 years ago! Peter was RIGHT AGAIN as we monitor the dead count bounce, and golds ascension to the stars.

[@bobleib737]

This guy has got to keep his mouth shut and let Shiff talk.

[@bcamk]

Yep, he is one of the reasons that I unsubscribed from Real News.

[@lockejr]

Whenever I hear people start talking about political parties I never take their views seriously.

[@jamesgray8712]

Always good to see you and Dan together. OAN clearly the most truthful and honest news source out there ..

[@rempseaheinamies9414]

Peter has always been right. It will be one very tragic day when everyone realizes that.

[@QuilishWammy]

Occam's razor suggests that he has always been wrong. He literally predicts a 'collapse' every year. There's nothing smart about that. Even a braindead simpleton can make such a prediction.

[@MarvishaN]

This is intentional; this is how they'll take over your assets. People should withdraw as much as they can from their 401(k), since the entire amount is at risk. I already have thousands of dollars disappearing from my 401k. My primary concern is where to invest and increase the $449k that I have left without taking any risks. I'm here for ideas🙏

[@tommyers0]

I may unable to offer personalized investment guidance for your 401k. However, I suggest consulting with a reliable advisor to ensure appropriate investment planning.

[@georgeh.5126]

Agreed, I’ve been investing in the stock market for 11 years now, last 5 years with the help of a financial planner apparently due to the covid-19 pandemic crash. Throughout these years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1m roi as of today.

[@georgeh.5126]

She's known as a 'HEATHER LEE LARIONI'. So easy and compassionate Lady. You should take a look at her work.

[@irishscott1]

I love how you have to brag about how much you have-so pathetic.

[@debbi945]

Read the free book The Great Taking by David Rogers Webb. You do not own any of your stocks and shares. If you have investments with debt attached you are in trouble. You already own nothing just as KS stated

[@SSNESS]

Peter Schiff is my biggest fan

[@randyosborne3971]

Congress is or sale. On the take. BOTH PARTIES.

[@jonathanlee5185]

👍Thanks, Peter. 👍

[@yolantasmith5630]

Everything is going great for whom Millionaire billionaires of Cours it is great for them but not for hard-working people

[@thenaturechannel_]

Elections in less than 10 months. Who is going to pay for the heavy inflation

[@eng3d]

we

[@monicamarkuson746]

You’re one smart guy. I enjoy listening to your KZbin videos.

[@alexandermiller6583]

I am so glad that is being broadcasted. People really need to hear this side of things so innocent people don’t get taken advantage of

[@danlee6997]

How many millions of dollars has been lost because of people listening to peters advice.

[@williamweaver8621]

ITS THE BORDER then the economy

[@chrislovell7448]

Yellen is a James Bond villain.

[@metalstamping]

1st class country, 1st class debt

[@TimezUp23]

It’s the border too

[@worldlife9834]

95 billion dollars to other countries meanwhile states need billions investment.

[@Doctor_klausmartens]

❤Peter but where did they get the ghetto Anchor guy?

[@shanebraund9987]

Blows my mind more and more people here in Australia are driving large people movers. All bought on debt?

[@frankannis890]

Thank you Peter Shiff for speaking the truth.

[@theinflationsituation8870]

Dan Ball, my man!

[@kwell2307]

When inflation first began, I got rid of my Amex card very quickly. Paid it, closed it. Have been living within my means. I dont do 401ks. I do my own investments. I dont have as much as Id like, but its enough to stay stable for now. Always paying ahead on mortgage too.

[@darryllandry9904]

Govt owes twice as much. I think we can outlast them.

[@digger105337]

Has anyone calculated the cost to the Government of all these people who don't have full-time work with health insurance? Part-time and low wage jobs rarely provide benefits, so Medicaid usually ends up covering them. No wonder why their asking for more money for Medicaid???

[@mattmatt6572]

Sucks living in the csa this country had fallen into to the community trap at least 80 years ago.

[@mattmatt6572]

​@@handlehandleton yeah and the Healthcare my job does supply you better hope you never need to use it. Only thing it is good for is if a guy gets big problems that cost 50 or 100k plus it might keep me from going bankrupt. The deductible is so hight it isn't good for stuff that I would normally go to a doctor for.

[@umbro12]

How much for politicians wages all the public servants, all military forces, and the rest of government freeloaders, cost America

[@mattmatt6572]

@@umbro12 at this point I think it safe to say their or more people taking dollar from the government then there are people who pay in. You are welcome freeloader. I need to work two jobs to pay for those who take their living from the gov!

[@umbro12]

@@mattmatt6572 join the army

[@off-roadingexplained8417]

I totally agree that rates are prices. They might as well be prices when it's all purchased with debt .

[@jiggyquinn5635]

What are the #'s of credit debt, offset by IRA, 401K, and pensions savings?

[@jeffdorris5321]

I been saying the same thing about the jobs report. Just more people having to work a second job to make ends meet.

[@AUstinnesc]

I am actively searching for ways to invest/diversify my $800k portfolio so it can dramatically increase in folds throughout this next bull run.

[@McElvinn]

Thats when you hire someone to manage your money. You need a financial-advis0r straight up! Even while $400k might seem like much, one bad decision might seriously deplete it.

[@sheltonPston]

While the overall stock market is predicted to be bullish, it remains uncertain which sectors will dominate. If you lack expert advice from a financial advisor, avoid re-balancing. Personally, I work with an advisor and my $1.2M portfolio saw a 30% annualized gain in 2023.

[@corrySledd]

how I can get in touch with this advisor as my porfolio isnt doing well?

[@sheltonPston]

NICOLE DESIREE SIMON is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@chrissmurrayy]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@CoolStuff..]

Cool

[@decabeatzHealthWellness]

We cant forget how 1.56 trillion in credit card debt Which has doubled in less than 10 years.

[@johnross5909]

$65.3 billion foreign aid? That's enough to give every American $32.5 million.

[@jcdaniel55]

Prices are up and profits are at all time highs! Hmm...

[@itsonelouder1]

Peter, talk about the half trillion (506 billion) increase in monetary base since February, of which 470 billion is attributable to the creation of bank reserves. This is QE by the back door. I would post a link to the article but youtube won't let me.

[@AdrianButler86]

Wow!! Show us please

[@walkerb1734]

People….QUIT SPENDING MONEY YOU DON’T HAVE!!!! Be responsible FFS

[@irishscott1]

Meanwhile, the stock market will continue to soar to Pluto.

[@venom_lowrider]

Peter has been constantly wrong about bitcoin. Yet the only reason anyone knows about him is because of his views on bitcoin. 😂 Between his insolvent bank and lackluster gold predictions (none of which have come true) I have no idea why anyone listens to him.

[@jimscherer8072]

You listened to him or did you forget already

[@user-rs1ui4sv2w]

What do you mean l got no money 🤔l still got checks 👍

[@AnthonyJones-gf6yv]

That network is unwatchable

[@umbro12]

$18 bks for a beer , pkt smokes $45, in Australia

[@AleksLazar]

Is it a measure of how much wages have stagnated and how much workers are getting underpaid vs inflation?

[@aelfredrex8354]

And the bankers are ecstatic. All that debt converts to assets on their books.

[@fayadkhairallah2760]

Cut by half? 😮

[@user-cg8yw1uc3v]

Peter Schiff is a Historical Monument

[@sreetips]

Thanks Peter.

[@williamholloway5789]

Don’t forget the obligation of 130 trillion the IOUs that’s owed for future social security Medicare Medicaid

[@mrmustangman]

some say that number is 200 trillion now..... [unfunded liabilities]

[@commissarcarr2463]

Soon Money Printer Go Burrrrrrrr! 😂😂😂

[@Plo890]

Debt is a price all will pay but the most miserable will be those who pretend to be in charge.

[@edwardnaclerio7690]

Peter if debt is crushing this country , when is the braking point ? Are people defaulting at a rate where the financial markets will crash and the lines at bankruptcy court will be around the block

[@edwardnaclerio7690]

breaking

[@povarful]

Recessions all over the place in the world, next depression!

[@Hdc2390]

Silent depression

[@jackjohnson9449]

Peter Schiff is a National Treasure, same as his father.

[@alc7084]

What happens if the United States stops printing money?

[@TXLionHeart]

The value of dollars would skyrocket, but they can't just stop because banks print money every time they make a loan.

[@stanleymedrano]

they can not. they would go into default. They print money to pay their own debt because the United States spends more money than it produces in a year. Today the United States is paying almost 1 trillion in debt interest alone

[@harrycallahan1699]

I'm on board with Schiff. I don't want any bitcoin so there is more for the people that do want it. Does anyone remember FTX blowing up? What about Mt. Gox? All forgotten!

[@Mat-hh6hj]

Australian households debt lol

[@beaubiden9293]

Let’s go Brandon!

[@eddiewaldron391]

But the thing is the FED and US gov needs to keep on finding reasons to increase their deficits to keep the Ponzi economy going, that's what COVID was really about anexcuse to increase debt at the massive rate to prop up world economy.

[@sadcubicle]

Without watching the video, saying highest in history and then using the nominal amount is useless. Inflation is a thing.

[@kb9gkc]

The National Debt will go up 3.5 Trillion over the next 12 months! Prepare yourselves and your family!

[@granth9542]

Had you done exactly the opposite of everything he’s said the last 15 years you wouldn’t need a job. You’d be very well off.

[@davefouquette4192]

He's stating facts about the economy, jobs numbers, inflation, etc. Not sure what you mean.

[@bmw803]

Obviously, but the trick is to get out on time and not stay at the poker table too long.

[@venom_lowrider]

Agreed. Feel bad for the clients who entrusted their money to him 😂

[@davefouquette4192]

@@venom_lowrider He predicted the 2008 sub prime melt down long before it happened. Those who listened didn’t end up losing everything. So there’s that.

[@venom_lowrider]

@davefouquette4192 he also predicted we would be at a 5k gold price years ago, so there is that 😂 Face it, he has a losing track record. An an insolvent Puerto Rican bank to boot 🤣 As for 2008, his ideological buddy Dr.Doom, aka Nouriel Roubini, also predicted a crash. Together, they have predicted like 12 bear markets in the last two decades 😂 A broken clock is right 2x a day. Eventually, markets go down, and guys like him come out to say, "I told you so," despite being wrong 9/10 times. You know what hasn't gone down? Bitcoin. Despite Oracle Pete over here saying it would have collapsed to zero by now. 😂

[@5002148]

Why worry,keep selling bonds the world needs it

[@johndewever1322]

Yellen is a Biden puppet - that’s a worry; Biden pulling Yellen’s strings - surprised he could even find the string

[@tabo01]

Been on the job 10 years, and doing a good job. Inflation down

[@clintonmatthews1507]

It’s because they gave people money they knew couldn’t pay it back it’s payback for the Great Depression

[@samtraygis1337]

I had a thought. This is a serious question. What would society look like if credit cards didn't exist? It would look like the Great depression right?

[@TheElevatedLife]

Bitty To Da Mewn!

[@xmen2130]

Peter is an intelligent person, it’s too bad these smart people will never run for office.

[@zoraster3749]

He ran for senate a number of years ago so I give him credit there.

[@QuilishWammy]

If he's so intelligent, why has his mutual funds been performing soo poorly ? ;)

[@jimpowers2047]

Scarecrow boy

[@anthonyalmeida8079]

they must of missed peter saying the same thing about trump 😂😂

[@user-gj8po5ck9g]

Stop the spending

[@sjent]

National debt...personal debt...it is all peanuts, as weirdly as it sounds. US government has about quadrillion(1000000000000000) in unfunded liabilities, according to some estiamtes. Aka services it is obligated to provide in the future. Like pension it already owes you when you retire.

[@user-gj8po5ck9g]

Consumers copying congress finance behavior

[@leinad5243]

😅😅😅😅 I'm full of schif.....eat schift...shifty shift

[@louisstringaro1055]

What is debt? A red number on a sheet of paper. Life goes on as usually. Life is now. After us the deluge.

[@animalblack8482]

Stellar.Peter thxu 👍. Keepin it real

[@sandeshb4744]

No money, totally broke and they want to support Ukraine war effort.

[@raymond_sycamore]

gold crash yet so I can buy?

[@KevinKilgorepage]

im waiting also

[@KevinKilgorepage]

problem is , when you look closely , the price falls and the premium rises and that is IF people will sell at al in a large move. i know i wouldnt

[@habyalexandru2265]

Get curency out of the banks Buy gold and silver

[@sensenisok]

This host is beneath your level of expertise. He acts like a newscaster from SNL. You can tell it's a fake over acted interview.

[@bhupinderkalra5188]

The economy is so far booming due to large scale borrowings and spending but one horrible day to come when everything to collapse

[@kendreamer6376]

The borrowers spent that money it ain't coming back so the creditors ain't getting anything. And whatever was bought with FED funny money just consider that property stolen and it ain't coming back. People need land housing food water and children to live in this world and the cost for all these things has priced most people out of the economy.

[@Freddiefingerz33]

God help us.

[@_clownworld]

Facts are what they say they are. Doesn’t matter. Peter has been saying this shit for years and nothing has happened.